KLA Corporation $KLAC Position Boosted by Harbor Island Capital LLC

Harbor Island Capital LLC grew its holdings in KLA Corporation (NASDAQ:KLAC) by 900.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,960 shares of the semiconductor company’s stock after purchasing an additional 122,364 shares during the period. KLA comprises 10.9% of Harbor Island Capital LLC’s portfolio, making the stock its 3rd largest holding. Harbor Island Capital LLC’s holdings in KLA were worth $41,020,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KLAC. Wellington Management Group LLP boosted its holdings in shares of KLA by 928.9% during 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 period. Bank of New York Mellon Corp purchased a new position in KLA during the second quarter valued at approximately $2,522,430,000. Railway Pension Investments Ltd increased its stake in KLA by 960.4% in the 2nd quarter. Railway Pension Investments Ltd now owns 926,652 shares of the semiconductor company’s stock valued at $279,580,000 after buying an additional 839,265 shares during the period. Handelsbanken Fonder AB increased its stake in KLA by 978.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 858,984 shares of the semiconductor company’s stock valued at $259,164,000 after buying an additional 779,317 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in KLA in the 2nd quarter worth approximately $163,950,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Price Performance

Shares of KLAC opened at $170.89 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.03 and a current ratio of 2.88. The firm has a market cap of $223.28 billion, a PE ratio of 46.60, a PEG ratio of 1.35 and a beta of 1.45. The firm’s 50 day moving average price is $209.84 and its 200 day moving average price is $188.27. KLA Corporation has a twelve month low of $83.22 and a twelve month high of $307.37.

KLA (NASDAQ:KLAC) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.00 by $0.05. KLA had a net margin of 35.57% and a return on equity of 87.66%. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. KLA has set its Q1 2027 guidance at 1.060-1.260 EPS. As a group, research analysts expect that KLA Corporation will post 5.42 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a $0.23 dividend. This is a boost from KLA’s previous quarterly dividend of $0.23. This represents a $0.92 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, August 17th. KLA’s dividend payout ratio is currently 25.07%.

Insider Transactions at KLA

In other KLA news, EVP Brian Lorig sold 59,586 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $208.13, for a total transaction of $12,401,634.18. Following the transaction, the executive vice president directly owned 77,681 shares in the company, valued at $16,167,746.53. This trade represents a 43.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bren D. Higgins sold 27,701 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $265.69, for a total value of $7,359,878.69. Following the completion of the sale, the chief financial officer directly owned 263,472 shares of the company’s stock, valued at $70,001,875.68. This represents a 9.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 258,533 shares of company stock valued at $55,977,470 in the last three months. 91.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on KLAC. Rothschild & Co Redburn lifted their target price on shares of KLA from $140.00 to $186.50 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. UBS Group dropped their price target on shares of KLA from $215.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $195.00 price objective (down from $220.00) on shares of KLA in a report on Wednesday, July 29th. Needham & Company LLC reissued a “buy” rating and set a $270.00 price objective on shares of KLA in a research report on Wednesday, July 29th. Finally, Oppenheimer restated an “outperform” rating and issued a $260.00 target price (up from $200.00) on shares of KLA in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, KLA has an average rating of “Moderate Buy” and a consensus price target of $222.22.

KLA Profile

KLA is a provider of process control and yield management solutions for the semiconductor and related microelectronics industries. The company designs and manufactures equipment, software and services used by chipmakers to analyze and control manufacturing processes, detect defects, measure critical dimensions and improve yield across wafer fabrication, photomask and packaging operations. KLA’s offerings are aimed at enabling production of advanced logic, memory, and specialty devices at progressively smaller technology nodes and more complex package structures.

Its product portfolio includes optical and e-beam inspection systems, metrology tools for critical dimension and film measurement, mask and reticle inspection platforms, as well as enterprise software and data analytics that aggregate process data and drive automated process control.