KLA Corporation $KLAC Stock Bought by Phoenix Financial Ltd.

Phoenix Financial Ltd. raised its position in shares of KLA Corporation (NASDAQ:KLAC) by 38.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,686 shares of the semiconductor company’s stock after purchasing an additional 7,904 shares during the quarter. Phoenix Financial Ltd.’s holdings in KLA were worth $5,595,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KLAC. Wellington Management Group LLP raised its stake in shares of KLA by 928.9% in the second quarter. Wellington Management Group LLP now owns 14,821,622 shares of the semiconductor company’s stock worth $4,471,832,000 after purchasing an additional 13,381,153 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in KLA in the second quarter valued at approximately $2,522,430,000. Assenagon Asset Management S.A. boosted its position in KLA by 239.3% in the third quarter. Assenagon Asset Management S.A. now owns 5,614,990 shares of the semiconductor company’s stock valued at $1,094,530,000 after buying an additional 3,959,927 shares during the last quarter. National Pension Service increased its holdings in KLA by 899.4% in the 2nd quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company’s stock worth $1,096,673,000 after buying an additional 3,271,158 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in KLA in the 3rd quarter worth approximately $377,898,000. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Stock Performance

NASDAQ:KLAC traded down $4.98 during trading hours on Friday, reaching $152.32. The company had a trading volume of 12,499,207 shares, compared to its average volume of 14,760,776. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.76 and a quick ratio of 1.86. KLA Corporation has a 1-year low of $107.20 and a 1-year high of $307.37. The business’s 50 day moving average price is $172.99 and its 200-day moving average price is $181.71. The firm has a market cap of $198.47 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 1.29 and a beta of 1.49.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, October 28th. The semiconductor company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.04. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.04 billion. KLA had a net margin of 36.25% and a return on equity of 89.30%. The business’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the company earned $8.47 EPS. Research analysts forecast that KLA Corporation will post 5.73 EPS for the current year.

KLA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, November 16th. KLA’s dividend payout ratio (DPR) is currently 23.00%.

Insider Buying and Selling

In related news, CEO Richard Wallace sold 72,014 shares of the firm’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $149.02, for a total transaction of $10,731,526.28. Following the sale, the chief executive officer owned 634,911 shares in the company, valued at approximately $94,614,437.22. This trade represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 79.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on KLAC shares. Argus reissued a “buy” rating and set a $225.00 price target on shares of KLA in a research report on Friday, October 30th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $180.00 price objective (up from $170.00) on shares of KLA in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised their target price on shares of KLA from $238.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Zacks Research upgraded shares of KLA from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $220.00 price target on shares of KLA in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.35.

KLA Profile

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.