KLA Corporation $KLAC Stock Acquired by Ethic Inc.

Ethic Inc. lifted its holdings in shares of KLA Corporation (NASDAQ:KLAC) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 183,389 shares of the semiconductor company’s stock after buying an additional 7,334 shares during the period. Ethic Inc.’s holdings in KLA were worth $35,748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Endowment Wealth Management Inc. purchased a new stake in shares of KLA during the third quarter worth approximately $343,000. StoneX Group Inc. grew its position in KLA by 49.0% in the 3rd quarter. StoneX Group Inc. now owns 12,560 shares of the semiconductor company’s stock valued at $2,414,000 after buying an additional 4,129 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its position in KLA by 90.0% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 7,600 shares of the semiconductor company’s stock valued at $1,481,000 after buying an additional 3,600 shares during the last quarter. Pictet Asset Management Holding SA grew its position 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 during the last quarter. Finally, Parallel Advisors LLC increased its stake in KLA by 1.3% in the 3rd quarter. Parallel Advisors LLC now owns 27,569 shares of the semiconductor company’s stock valued at $5,374,000 after buying an additional 344 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling at KLA

In related news, EVP Brian Lorig sold 59,586 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $208.13, for a total value of $12,401,634.18. Following the completion of the sale, the executive vice president owned 77,681 shares in the company, valued at $16,167,746.53. This trade represents a 43.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard P. Wallace sold 72,019 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $171.88, for a total transaction of $12,378,625.72. Following the completion of the sale, the chief executive officer owned 706,925 shares of the company’s stock, valued at $121,506,269. This trade represents a 9.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 219,173 shares of company stock worth $42,201,914 over the last 90 days. Insiders own 79.39% of the company’s stock.

KLA Stock Up 6.7%

KLA stock opened at $138.49 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.76 and a quick ratio of 1.86. KLA Corporation has a 1-year low of $107.20 and a 1-year high of $307.37. The company has a market cap of $180.45 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. The stock’s 50 day moving average price is $174.83 and its 200 day moving average price is $181.68.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.04. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business posted $8.47 earnings per share. On average, sell-side analysts predict that KLA Corporation will post 5.73 EPS for the current fiscal year.

KLA Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have issued reports on KLAC shares. Wall Street Zen upgraded shares of KLA from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research upgraded shares of KLA from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $195.00 target price (down from $220.00) on shares of KLA in a report on Wednesday, July 29th. Susquehanna dropped their price target on shares of KLA from $215.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, October 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $225.00 price target on shares of KLA in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, KLA has an average rating of “Moderate Buy” and a consensus price target of $220.35.

KLA News Roundup

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

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.