KLA Corporation (NASDAQ:KLAC) Shares Bought by Optimal Asset Management Inc.
Optimal Asset Management Inc. grew its stake in shares of KLA Corporation (NASDAQ:KLAC) by 100.6% during the first quarter, HoldingsChannel reports. The firm owned 12,668 shares of the semiconductor company’s stock after buying an additional 6,352 shares during the period. Optimal Asset Management Inc.’s holdings in KLA were worth $1,821,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. National Pension Service increased its holdings in KLA by 2.1% in the first quarter. National Pension Service now owns 260,253 shares of the semiconductor company’s stock valued at $37,409,000 after buying an additional 5,359 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in KLA by 418.0% in the first quarter. The Manufacturers Life Insurance Company now owns 804,489 shares of the semiconductor company’s stock valued at $115,638,000 after buying an additional 649,177 shares during the last quarter. FDx Advisors Inc. increased its holdings in KLA by 63.1% in the first quarter. FDx Advisors Inc. now owns 3,072 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 1,188 shares during the last quarter. Cim Investment Mangement Inc. increased its holdings in KLA by 3.4% in the first quarter. Cim Investment Mangement Inc. now owns 3,868 shares of the semiconductor company’s stock valued at $556,000 after buying an additional 127 shares during the last quarter. Finally, Phoenix Holdings Ltd. bought a new stake in KLA in the first quarter valued at about $909,000. Institutional investors own 89.18% of the company’s stock.
Several analysts recently weighed in on the company. Barclays assumed coverage on KLA in a report on Tuesday, May 26th. They issued an “equal weight” rating and a $170.00 price objective for the company. Zacks Investment Research raised KLA from a “sell” rating to a “hold” rating and set a $172.00 price objective for the company in a report on Thursday, May 7th. BNP Paribas assumed coverage on KLA in a report on Thursday, April 9th. They set an “outperform” rating and a $190.00 target price for the company. Wells Fargo & Co upped their target price on KLA from $140.00 to $160.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley upped their target price on KLA from $148.00 to $167.00 and gave the company an “equal weight” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $183.22.
KLA (NASDAQ:KLAC) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.19. KLA had a net margin of 18.26% and a return on equity of 57.76%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the business earned $1.80 EPS. The company’s revenue was up 29.8% on a year-over-year basis. On average, research analysts forecast that KLA Corporation will post 9.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Monday, May 18th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Friday, May 15th. KLA’s dividend payout ratio (DPR) is presently 40.19%.
In related news, insider Ahmad A. Khan sold 2,530 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $175.50, for a total value of $444,015.00. Following the completion of the sale, the insider now owns 823 shares in the company, valued at $144,436.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard P. Wallace sold 37,266 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $168.94, for a total transaction of $6,295,718.04. Following the completion of the sale, the chief executive officer now owns 106,739 shares of the company’s stock, valued at approximately $18,032,486.66. The disclosure for this sale can be found here. Insiders sold 44,796 shares of company stock valued at $7,498,933 over the last quarter. 0.19% of the stock is currently owned by corporate insiders.
KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the semiconductor fabrication process.
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