Maryland State Retirement & Pension System Purchases 81,168 Shares of KLA Corporation $KLAC

Maryland State Retirement & Pension System lifted its position in shares of KLA Corporation (NASDAQ:KLAC) by 115.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,664 shares of the semiconductor company’s stock after buying an additional 81,168 shares during the period. Maryland State Retirement & Pension System’s holdings in KLA were worth $29,564,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Allied Private Wealth LLC bought a new stake in KLA in the 2nd quarter worth approximately $27,000. Atomic Invest LLC grew its position in KLA by 781.8% during the second quarter. Atomic Invest LLC now owns 97 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. Roble Belko & Company Inc grew its position in KLA by 2,275.0% during the second quarter. Roble Belko & Company Inc now owns 95 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 91 shares during the last quarter. Carolina Wealth Advisors LLC grew its position in KLA by 900.0% during the second quarter. Carolina Wealth Advisors LLC now owns 100 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC raised its stake in shares of KLA by 900.0% during the second quarter. Cherry Tree Wealth Management LLC now owns 120 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 108 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Trading Up 5.2%

NASDAQ KLAC opened at $161.01 on Thursday. The firm has a market cap of $209.79 billion, a PE ratio of 40.25, a price-to-earnings-growth ratio of 1.25 and a beta of 1.49. KLA Corporation has a 1-year low of $107.20 and a 1-year high of $307.37. The stock has a 50-day moving average of $173.70 and a 200-day moving average of $181.74. The company has a current ratio of 2.76, a quick ratio of 1.86 and a debt-to-equity ratio of 0.88.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results 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. KLA had a return on equity of 89.30% and a net margin of 36.25%. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the company earned $8.47 EPS. KLA’s revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, sell-side analysts forecast that KLA Corporation will post 5.73 EPS for the current year.

KLA Announces Dividend

The business 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%.

Insiders Place Their Bets

In other news, CEO Richard Wallace sold 72,019 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was 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 approximately $121,506,269. This represents a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 79.39% of the company’s stock.

Analyst Upgrades and Downgrades

KLAC has been the subject of a number of recent research reports. Zacks Research upgraded shares of KLA from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $180.00 price objective (up from $170.00) on shares of KLA in a research note on Wednesday, July 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $220.00 target price on shares of KLA in a report on Thursday, October 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $210.00 target price (up from $200.00) on shares of KLA in a report on Wednesday, July 29th. Finally, Piper Sandler set a $425.00 target price on shares of KLA in a research report on Thursday, October 29th. One investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.