KLA Co. (NASDAQ:KLAC) CFO Bren D. Higgins Sells 5,330 Shares

KLA Co. (NASDAQ:KLACGet Rating) CFO Bren D. Higgins sold 5,330 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $383.11, for a total value of $2,041,976.30. Following the completion of the sale, the chief financial officer now directly owns 52,145 shares of the company’s stock, valued at approximately $19,977,270.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

KLA Stock Performance

NASDAQ:KLAC opened at $395.74 on Friday. The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.75 and a current ratio of 2.50. KLA Co. has a 52-week low of $282.83 and a 52-week high of $457.12. The firm has a market cap of $59.06 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.28 and a beta of 1.33. The business’s fifty day moving average is $340.45 and its 200 day moving average is $347.09.

KLA (NASDAQ:KLACGet Rating) last released its quarterly earnings data on Thursday, July 28th. The semiconductor company reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.46 by $0.35. KLA had a return on equity of 95.80% and a net margin of 36.06%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the company posted $4.43 EPS. The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. Research analysts predict that KLA Co. will post 24.83 EPS for the current year.

KLA declared that its board has approved a stock buyback program on Thursday, June 16th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 12.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.31%. This is a boost from KLA’s previous quarterly dividend of $1.05. KLA’s payout ratio is presently 19.18%.

Hedge Funds Weigh In On KLA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in KLA by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,554,919 shares of the semiconductor company’s stock worth $4,961,914,000 after buying an additional 44,929 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of KLA by 2.4% in the 1st quarter. BlackRock Inc. now owns 11,598,754 shares of the semiconductor company’s stock worth $4,245,843,000 after purchasing an additional 274,070 shares in the last quarter. Capital International Investors boosted its holdings in shares of KLA by 0.8% in the 4th quarter. Capital International Investors now owns 7,531,100 shares of the semiconductor company’s stock worth $3,238,787,000 after purchasing an additional 63,037 shares in the last quarter. State Street Corp boosted its holdings in shares of KLA by 1.8% in the 4th quarter. State Street Corp now owns 6,315,958 shares of the semiconductor company’s stock worth $2,716,557,000 after purchasing an additional 113,477 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of KLA by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,517,601 shares of the semiconductor company’s stock worth $1,079,897,000 after purchasing an additional 33,361 shares in the last quarter. 87.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KLAC has been the topic of several research analyst reports. Piper Sandler cut their price objective on KLA from $385.00 to $352.00 and set a “neutral” rating on the stock in a research report on Thursday, May 26th. Barclays cut their price objective on KLA from $365.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday, July 25th. Evercore ISI set a $425.00 price objective on KLA in a research report on Monday, June 20th. Morgan Stanley boosted their price objective on KLA from $373.00 to $377.00 and gave the stock an “equal weight” rating in a research report on Monday, July 25th. Finally, Bank of America cut their price objective on KLA from $430.00 to $410.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $425.16.

KLA Company Profile

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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.

Further Reading

Insider Buying and Selling by Quarter for KLA (NASDAQ:KLAC)

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