Short Interest in KLA Corporation (NASDAQ:KLAC) Decreases By 32.9%

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KLA Corporation (NASDAQ:KLAC) was the target of a significant decline in short interest in November. As of November 29th, there was short interest totalling 2,350,000 shares, a decline of 32.9% from the November 14th total of 3,500,000 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average trading volume of 1,458,700 shares, the days-to-cover ratio is presently 1.6 days.

In other KLA news, CFO Bren D. Higgins sold 6,751 shares of KLA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $158.01, for a total value of $1,066,725.51. Following the completion of the transaction, the chief financial officer now directly owns 1,692 shares of the company’s stock, valued at $267,352.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ahmad A. Khan sold 4,142 shares of KLA stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.13, for a total transaction of $729,530.46. The disclosure for this sale can be found here. Insiders sold 26,804 shares of company stock worth $4,592,025 over the last three months. Corporate insiders own 0.19% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners raised its holdings in KLA by 132.7% in the 3rd quarter. Boston Partners now owns 3,050,833 shares of the semiconductor company’s stock worth $486,716,000 after purchasing an additional 1,739,882 shares during the period. Victory Capital Management Inc. raised its stake in shares of KLA by 5,663.0% in the second quarter. Victory Capital Management Inc. now owns 1,326,920 shares of the semiconductor company’s stock worth $156,842,000 after buying an additional 1,303,895 shares during the period. Nuveen Asset Management LLC raised its stake in shares of KLA by 27,967.4% in the second quarter. Nuveen Asset Management LLC now owns 1,186,409 shares of the semiconductor company’s stock worth $140,234,000 after buying an additional 1,182,182 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of KLA by 35.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,377,593 shares of the semiconductor company’s stock valued at $281,031,000 after buying an additional 619,019 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of KLA by 4.0% during the 2nd quarter. BlackRock Inc. now owns 12,248,818 shares of the semiconductor company’s stock valued at $1,447,811,000 after buying an additional 470,708 shares in the last quarter. 88.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of KLAC traded up $4.75 during mid-day trading on Wednesday, hitting $167.12. 934,073 shares of the company traded hands, compared to its average volume of 1,541,161. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.60 and a current ratio of 2.24. The stock has a 50-day moving average price of $168.12 and a two-hundred day moving average price of $143.17. KLA has a 1 year low of $80.65 and a 1 year high of $179.95. The stock has a market cap of $25.88 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 1.39 and a beta of 1.68.

KLA (NASDAQ:KLAC) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $2.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.28. KLA had a net margin of 23.03% and a return on equity of 54.53%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the company posted $2.46 earnings per share. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. On average, analysts forecast that KLA will post 9.88 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from KLA’s previous quarterly dividend of $0.75. This represents a $3.40 dividend on an annualized basis and a yield of 2.03%. KLA’s payout ratio is currently 40.19%.

A number of equities research analysts have recently commented on KLAC shares. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research report on Wednesday, September 18th. Citigroup upped their price objective on KLA from $156.50 to $180.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Nomura started coverage on KLA in a research report on Wednesday, November 27th. They issued a “buy” rating and a $215.00 price objective on the stock. BidaskClub downgraded KLA from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 23rd. Finally, Wells Fargo & Co lifted their target price on KLA from $120.00 to $150.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $172.00.

KLA Company Profile

KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.

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