CenterBook Partners LP Acquires 63,058 Shares of KLA Corporation $KLAC

CenterBook Partners LP increased its holdings in KLA Corporation (NASDAQ:KLAC) by 1,205.2% during the third quarter, Holdings Channel reports. The firm owned 68,290 shares of the semiconductor company’s stock after acquiring an additional 63,058 shares during the quarter. CenterBook Partners LP’s holdings in KLA were worth $13,312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KLAC. Cornerstone Planning Group LLC boosted its position in shares of KLA by 36.4% during the first quarter. Cornerstone Planning Group LLC now owns 60 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 16 shares during the last quarter. Allied Private Wealth LLC bought a new stake in KLA in the 2nd quarter valued at $27,000. McIlrath & Eck LLC boosted its holdings in shares of KLA by 6.8% during the 1st quarter. McIlrath & Eck LLC now owns 94 shares of the semiconductor company’s stock valued at $139,000 after purchasing an additional 6 shares during the last quarter. Roble Belko & Company Inc boosted its holdings in shares of KLA by 2,275.0% during the 2nd quarter. Roble Belko & Company Inc now owns 95 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 91 shares during the last quarter. Finally, Atomic Invest LLC increased its stake in KLA by 781.8% in the 2nd quarter. Atomic Invest LLC now owns 97 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 86 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at KLA

In related news, EVP Brian Lorig sold 59,586 shares of the company’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 directly owned 77,681 shares of the company’s stock, valued at $16,167,746.53. This represents a 43.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Wallace sold 87,568 shares of KLA stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $198.95, for a total value of $17,421,653.60. Following the sale, the chief executive officer directly owned 778,944 shares of the company’s stock, valued at approximately $154,970,908.80. This represents a 10.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 219,173 shares of company stock worth $42,201,914. 79.39% of the stock is owned by insiders.

KLA Stock Up 6.7%

NASDAQ KLAC traded up $8.69 on Friday, hitting $138.49. The stock had a trading volume of 15,336,108 shares, compared to its average volume of 12,115,061. KLA Corporation has a 52-week low of $107.20 and a 52-week high of $307.37. The business’s fifty day moving average price is $174.83 and its 200 day moving average price is $181.68. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.76 and a quick ratio of 1.86. The stock has a market cap of $180.45 billion, a price-to-earnings ratio of 34.62, a price-to-earnings-growth ratio of 1.25 and a beta of 1.49.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, October 28th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.04. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.04 billion. KLA had a return on equity of 89.30% and a net margin of 36.25%. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the company posted $8.47 EPS. Equities research analysts anticipate that KLA Corporation will post 5.73 earnings per share for the current year.

KLA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.7%. KLA’s payout ratio is 23.00%.

Analyst Ratings Changes

Several research firms recently commented on KLAC. Wall Street Zen upgraded KLA from a “hold” rating to a “buy” rating in a research report on Saturday. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price objective (down from $270.00) on shares of KLA in a research report on Thursday, October 29th. Piper Sandler set a $425.00 target price on KLA in a research note on Thursday, October 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $195.00 price target (down from $220.00) on shares of KLA in a research note on Wednesday, July 29th. Finally, Argus reiterated a “buy” rating and issued a $225.00 price target on shares of KLA in a report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, KLA presently has a consensus rating of “Moderate Buy” and an average price target of $220.35.

KLA News Summary

Here are the key news stories impacting KLA this week:

• Positive Sentiment: KLA declared a quarterly cash dividend of $0.23 per share, payable December 1 to shareholders of record November 16. The dividend provides a modest return to shareholders. KLA Declares Regular Cash Dividend
• Positive Sentiment: A bullish analysis highlights KLA’s strong quarterly results, AI-related demand, expanding margins, and upbeat guidance, including projected year-over-year revenue growth of 43% and EPS growth above 60% in the next quarter. KLA: Unfairly Caught Up In The Tech Carnage
• Positive Sentiment: Exchange-traded funds bought $52.3 million of KLAC shares on November 3, indicating institutional fund demand. ETFs Bought $52.3 Million of KLAC
• Neutral Sentiment: A report on a $17 billion hedge fund returning cash after a poor month discusses ownership and positioning in AI-chip stocks, including KLA. It may contribute to volatility, but does not by itself establish a change in KLA’s business outlook. Hedge Fund Returns Cash After Worst Month Since 2020
• Negative Sentiment: Unusually high put-option buying suggests some investors are hedging against, or betting on, downside in KLAC, a potentially bearish near-term signal. KLA Stock Sees Unusually High Put Option Buying

About KLA

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.