Mirae Asset Global Investments Co. Ltd. Acquires 3,846 Shares of KLA Corporation (NASDAQ:KLAC)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of KLA Corporation (NASDAQ:KLAC) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,990 shares of the semiconductor company’s stock after acquiring an additional 3,846 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.10% of KLA worth $93,624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Jaffetilchin Investment Partners LLC raised its holdings in KLA by 30.7% during the first quarter. Jaffetilchin Investment Partners LLC now owns 1,038 shares of the semiconductor company’s stock valued at $706,000 after acquiring an additional 244 shares during the period. Illinois Municipal Retirement Fund grew its position in shares of KLA by 3.0% during the first quarter. Illinois Municipal Retirement Fund now owns 24,066 shares of the semiconductor company’s stock valued at $16,360,000 after purchasing an additional 690 shares in the last quarter. Diversified Trust Co grew its position in shares of KLA by 239.7% during the first quarter. Diversified Trust Co now owns 13,378 shares of the semiconductor company’s stock valued at $9,094,000 after purchasing an additional 9,440 shares in the last quarter. PDS Planning Inc grew its position in shares of KLA by 10.0% during the first quarter. PDS Planning Inc now owns 647 shares of the semiconductor company’s stock valued at $440,000 after purchasing an additional 59 shares in the last quarter. Finally, Kraft Davis & Associates LLC purchased a new position in shares of KLA during the first quarter valued at about $228,000. 86.65% of the stock is owned by institutional investors.

KLA Stock Down 1.4%

Shares of NASDAQ KLAC opened at $889.87 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.54 and a quick ratio of 1.74. The company has a market cap of $117.68 billion, a P/E ratio of 32.35, a PEG ratio of 1.72 and a beta of 1.40. KLA Corporation has a 1 year low of $551.33 and a 1 year high of $914.83. The firm has a 50-day simple moving average of $778.92 and a two-hundred day simple moving average of $724.13.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.08 by $0.33. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.01 billion. KLA had a net margin of 31.99% and a return on equity of 112.97%. The firm’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter last year, the firm earned $5.26 earnings per share. Research analysts anticipate that KLA Corporation will post 31.59 earnings per share for the current year.

KLA announced that its board has authorized a stock buyback plan on Wednesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were paid a $1.90 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.60 annualized dividend and a yield of 0.85%. This is an increase from KLA’s previous quarterly dividend of $1.70. KLA’s dividend payout ratio (DPR) is presently 27.63%.

Insiders Place Their Bets

In other news, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total transaction of $781,022.74. Following the completion of the sale, the chief financial officer now owns 27,779 shares of the company’s stock, valued at approximately $21,291,492.34. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard P. Wallace sold 10,802 shares of KLA stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 directly owns 78,740 shares of the company’s stock, valued at $53,803,042. This represents a 12.06% decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TD Securities raised their price objective on KLA from $770.00 to $800.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Needham & Company LLC restated a “buy” rating and set a $830.00 price objective on shares of KLA in a research report on Thursday, May 1st. Citigroup cut their price objective on KLA from $910.00 to $800.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Cantor Fitzgerald restated an “overweight” rating on shares of KLA in a research report on Tuesday. Finally, TD Cowen raised their price objective on KLA from $770.00 to $800.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $815.39.

KLA Company Profile

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.