Mediolanum International Funds Ltd Has $36.21 Million Position in KLA Corporation (NASDAQ:KLAC)

Mediolanum International Funds Ltd lifted its position in KLA Corporation (NASDAQ:KLAC) by 11.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 53,758 shares of the semiconductor company’s stock after purchasing an additional 5,656 shares during the quarter. Mediolanum International Funds Ltd’s holdings in KLA were worth $36,211,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in shares of KLA in the first quarter valued at approximately $35,000. Olde Wealth Management LLC acquired a new stake in KLA during the 1st quarter valued at $36,000. Hazlett Burt & Watson Inc. acquired a new stake in KLA during the 1st quarter valued at $45,000. E Fund Management Hong Kong Co. Ltd. raised its position in KLA by 527.3% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 58 shares during the last quarter. Finally, HM Payson & Co. boosted its stake in KLA by 270.0% in the first quarter. HM Payson & Co. now owns 74 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Insider Activity at KLA

In related news, CFO Bren D. Higgins sold 1,019 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total transaction of $781,022.74. Following the sale, the chief financial officer owned 27,779 shares of the company’s stock, valued at approximately $21,291,492.34. This trade represents a 3.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Virendra A. Kirloskar sold 39 shares of KLA stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $891.50, for a total value of $34,768.50. Following the transaction, the chief accounting officer owned 2,616 shares in the company, valued at approximately $2,332,164. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,860 shares of company stock worth $8,196,798. 0.12% of the stock is currently owned by company insiders.

KLA Stock Down 0.2%

NASDAQ:KLAC opened at $902.09 on Friday. 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 12-month low of $551.33 and a 12-month high of $945.87. The stock’s fifty day simple moving average is $862.09 and its 200-day simple moving average is $761.33. The firm has a market capitalization of $119.29 billion, a P/E ratio of 32.79, a P/E/G ratio of 1.68 and a beta of 1.42.

KLA (NASDAQ:KLAC) last released its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share for the quarter, beating the consensus estimate of $8.08 by $0.33. KLA had a return on equity of 112.97% and a net margin of 31.99%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the firm posted $5.26 earnings per share. The company’s quarterly revenue was up 35.5% on a year-over-year basis. Equities research analysts expect that KLA Corporation will post 31.59 earnings per share for the current year.

KLA announced that its board has approved a share buyback program on Wednesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire 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 stock is undervalued.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were paid a dividend of $1.90 per share. This is a positive change from KLA’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.60 annualized dividend and a yield of 0.84%. KLA’s dividend payout ratio (DPR) is presently 27.63%.

Wall Street Analysts Forecast Growth

KLAC has been the topic of several research analyst reports. Wall Street Zen cut KLA from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. TD Cowen increased their price objective on shares of KLA from $770.00 to $800.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Cantor Fitzgerald restated an “overweight” rating on shares of KLA in a research report on Tuesday, June 24th. Stifel Nicolaus upped their target price on shares of KLA from $750.00 to $770.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $830.00 price target on shares of KLA in a research note on Thursday, May 1st. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $849.76.

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.