Petros Family Wealth LLC cut its stake in KLA Corporation (NASDAQ:KLAC – Free Report) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,812 shares of the semiconductor company’s stock after selling 95 shares during the quarter. KLA comprises about 1.4% of Petros Family Wealth LLC’s investment portfolio, making the stock its 19th biggest position. Petros Family Wealth LLC’s holdings in KLA were worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in the stock. Tortoise Investment Management LLC grew its stake in shares of KLA by 300.0% during the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 36 shares in the last quarter. TCTC Holdings LLC acquired a new stake in shares of KLA during the fourth quarter valued at about $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of KLA during the fourth quarter valued at about $32,000. Fairfield Financial Advisors LTD grew its stake in shares of KLA by 160.0% during the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 40 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of KLA by 527.3% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 58 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, CEO Richard P. Wallace sold 10,802 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the sale, the chief executive officer now owns 78,740 shares of the company’s stock, valued at $53,803,042. The trade was a 12.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bren D. Higgins sold 1,019 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the sale, the chief financial officer now directly owns 27,779 shares in the company, valued at approximately $21,291,492.34. The trade was a 3.54% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on KLA
KLA Stock Performance
Shares of KLAC stock opened at $856.28 on Tuesday. The business has a 50 day moving average of $759.15 and a two-hundred day moving average of $718.30. The company has a market cap of $113.23 billion, a P/E ratio of 31.13, a PEG ratio of 1.62 and a beta of 1.40. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47. KLA Corporation has a 52 week low of $551.33 and a 52 week high of $914.83.
KLA (NASDAQ:KLAC – Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, beating analysts’ consensus estimates of $8.08 by $0.33. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.01 billion. KLA had a return on equity of 112.97% and a net margin of 31.99%. The business’s revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.26 earnings per share. As a group, analysts anticipate that KLA Corporation will post 31.59 EPS for the current year.
KLA announced that its Board of Directors has approved a stock buyback program on Wednesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
KLA Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Monday, May 19th. This is a boost from KLA’s previous quarterly dividend of $1.70. KLA’s payout ratio is 27.63%.
About KLA
KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB and Component Inspection.
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