Penserra Capital Management LLC Has $17.58 Million Holdings in KLA Corporation (NASDAQ:KLAC)

Penserra Capital Management LLC raised its holdings in KLA Corporation (NASDAQ:KLAC) by 37.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,859 shares of the semiconductor company’s stock after buying an additional 7,021 shares during the quarter. Penserra Capital Management LLC’s holdings in KLA were worth $17,577,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in KLAC. Norges Bank acquired a new position in KLA in the fourth quarter valued at approximately $1,175,756,000. GAMMA Investing LLC lifted its stake in KLA by 95,141.6% in the first quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company’s stock valued at $1,138,221,000 after buying an additional 1,672,589 shares during the period. Parnassus Investments LLC lifted its stake in KLA by 381.3% in the fourth quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company’s stock valued at $462,085,000 after buying an additional 580,967 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of KLA by 33.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,191,262 shares of the semiconductor company’s stock worth $750,638,000 after purchasing an additional 300,015 shares during the period. Finally, Capital Research Global Investors acquired a new position in shares of KLA during the fourth quarter worth approximately $187,212,000. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Trading Down 0.7%

NASDAQ KLAC opened at $914.70 on Friday. The firm has a market capitalization of $120.96 billion, a P/E ratio of 33.25, a PEG ratio of 1.72 and a beta of 1.42. The business has a fifty day simple moving average of $803.85 and a 200 day simple moving average of $733.70. KLA Corporation has a 12 month low of $551.33 and a 12 month high of $928.02. The company has a current ratio of 2.54, a quick ratio of 1.74 and a debt-to-equity ratio of 1.47.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.08 by $0.33. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.01 billion. KLA had a return on equity of 112.97% and a net margin of 31.99%. The business’s revenue for the quarter was up 35.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.26 EPS. On average, analysts predict that KLA Corporation will post 31.59 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Monday, May 19th. This is an increase from KLA’s previous quarterly dividend of $1.70. KLA’s dividend payout ratio is 27.63%.

KLA declared that its board has authorized a stock repurchase program on Wednesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

KLAC has been the topic of a number of research reports. Cowen reaffirmed a “hold” rating on shares of KLA in a research report on Thursday, May 1st. Oppenheimer upped their target price on KLA from $740.00 to $950.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of KLA in a research report on Tuesday, June 24th. JPMorgan Chase & Co. lowered their target price on KLA from $950.00 to $900.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $830.00 target price on shares of KLA in a research report on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, KLA presently has a consensus rating of “Moderate Buy” and an average price target of $818.06.

Insider Buying and Selling at KLA

In other news, CAO Virendra A. Kirloskar sold 39 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $891.50, for a total transaction of $34,768.50. Following the completion of the transaction, the chief accounting officer owned 2,616 shares in the company, valued at approximately $2,332,164. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the transaction, the chief financial officer owned 27,779 shares of the company’s stock, valued at $21,291,492.34. The trade was a 3.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,860 shares of company stock worth $8,196,798 in the last quarter. 0.12% of the stock is currently owned by company insiders.

KLA Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB and Component Inspection.