KLA Corporation $KLAC Shares Sold by Providence First Trust Co

Providence First Trust Co trimmed its position in KLA Corporation (NASDAQ:KLAC) by 46.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,519 shares of the semiconductor company’s stock after selling 4,816 shares during the quarter. Providence First Trust Co’s holdings in KLA were worth $1,076,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Allied Private Wealth LLC purchased a new position in shares of KLA during the second quarter valued at $27,000. Atomic Invest LLC raised its holdings in shares of KLA by 781.8% in 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 in the last quarter. Roble Belko & Company Inc raised its holdings in shares of KLA by 2,275.0% in 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 in the last quarter. Carolina Wealth Advisors LLC lifted its stake in KLA by 900.0% in the second quarter. Carolina Wealth Advisors LLC now owns 100 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 90 shares during the period. Finally, Cherry Tree Wealth Management LLC lifted its stake in KLA by 900.0% in 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 during the period. Institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling at KLA

In other KLA news, EVP Brian Lorig sold 59,586 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 77,681 shares in the company, valued at approximately $16,167,746.53. This trade represents a 43.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard P. Wallace sold 87,568 shares of the firm’s 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 completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 219,173 shares of company stock worth $42,201,914. 79.39% of the stock is owned by company insiders.

KLA Stock Up 6.7%

KLAC traded up $8.69 during trading 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. The stock has a 50 day simple moving average of $174.83 and a two-hundred day simple moving average of $181.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.86 and a current ratio of 2.76. KLA Corporation has a twelve month low of $107.20 and a twelve month high of $307.37. The company has a market capitalization of $180.45 billion, a PE ratio of 34.62, a PEG ratio of 1.25 and a beta of 1.49.

KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.04 billion. During the same period in the prior year, the firm posted $8.47 earnings per share. The business’s quarterly revenue was up 28.9% on a year-over-year basis. On average, research analysts predict that KLA Corporation will post 5.73 earnings per share for the current year.

KLA Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Sanford C. Bernstein reiterated an “outperform” rating and set a $225.00 target price on shares of KLA in a report on Wednesday, July 29th. UBS Group reissued a “neutral” rating and set a $180.00 target price (down from $190.00) on shares of KLA in a research report on Thursday, October 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 target price (down from $270.00) on shares of KLA in a research report on Thursday, October 29th. Piper Sandler set a $425.00 price target on KLA in a research report on Thursday, October 29th. Finally, Morgan Stanley restated an “overweight” rating and set a $220.00 price objective on shares of KLA in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, KLA has an average rating of “Moderate Buy” and a consensus target price of $220.35.

Key Stories Impacting KLA

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.