KLA Corporation $KLAC Stock Holdings Boosted by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lifted its holdings in shares of KLA Corporation (NASDAQ:KLAC) by 90.0% in the third quarter, Holdings Channel.com reports. The fund owned 7,600 shares of the semiconductor company’s stock after purchasing an additional 3,600 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in KLA were worth $1,481,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP raised its position in KLA by 928.9% in the second quarter. Wellington Management Group LLP now owns 14,821,622 shares of the semiconductor company’s stock worth $4,471,832,000 after purchasing an additional 13,381,153 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in KLA during the second quarter valued at approximately $2,522,430,000. National Pension Service boosted its holdings in KLA by 899.4% during the second quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company’s stock valued at $1,096,673,000 after purchasing an additional 3,271,158 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of KLA by 239.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,614,990 shares of the semiconductor company’s stock worth $1,094,530,000 after buying an additional 3,959,927 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in KLA by 5.3% in the 3rd quarter. Pictet Asset Management Holding SA now owns 5,113,870 shares of the semiconductor company’s stock valued at $997,000,000 after buying an additional 256,716 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at KLA

In other KLA news, EVP Brian Lorig sold 59,586 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $208.13, for a total value of $12,401,634.18. Following the transaction, the executive vice president owned 77,681 shares of the company’s stock, valued at approximately $16,167,746.53. The trade was a 43.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Wallace sold 72,019 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $171.88, for a total value of $12,378,625.72. Following the sale, the chief executive officer owned 706,925 shares in the company, valued at $121,506,269. The trade was a 9.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 79.39% of the company’s stock.

KLA Stock Performance

NASDAQ KLAC opened at $151.38 on Tuesday. KLA Corporation has a 1-year low of $107.20 and a 1-year high of $307.37. The company has a 50 day moving average of $174.35 and a 200-day moving average of $181.67. The company has a current ratio of 2.76, a quick ratio of 1.86 and a debt-to-equity ratio of 0.88. The firm has a market cap of $197.24 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 1.22 and a beta of 1.49.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, October 28th. The semiconductor company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.18 by $0.04. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.04 billion. KLA had a return on equity of 89.30% and a net margin of 36.25%. KLA’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the business earned $8.47 EPS. On average, equities analysts forecast that KLA Corporation will post 5.73 earnings per share for the current fiscal year.

KLA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be given a $0.23 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.92 annualized dividend and a yield of 0.6%. KLA’s payout ratio is presently 23.00%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Oppenheimer reiterated an “outperform” rating and issued a $260.00 price target (up from $200.00) on shares of KLA in a research report on Thursday, July 16th. BMO Capital Markets set a $133.00 price objective on KLA in a research note on Thursday, October 29th. Truist Financial set a $225.00 price objective on KLA in a report on Thursday, October 29th. Jefferies Financial Group restated a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of KLA in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus set a $230.00 target price on shares of KLA and gave the company a “buy” rating in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $220.35.

KLA Company Profile

KLA Corporation develops process-control and yield-management technologies used in the manufacture of semiconductors and other electronic products. Its systems help manufacturers detect defects, measure features and monitor production processes as they make increasingly complex devices.

The company’s products include inspection and metrology equipment, as well as software and related services. Its technologies support multiple stages of semiconductor production, from work on wafers and reticles to advanced packaging.