10,101 Shares of KLA Corporation $KLAC Acquired by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC purchased a new stake in KLA Corporation (NASDAQ:KLAC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,101 shares of the semiconductor company’s stock, valued at approximately $1,969,000. KLA accounts for 1.3% of StoneRidge PMG Advisors LLC’s holdings, making the stock its 14th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Formuepleje A S grew its stake in shares of KLA by 1,125.5% during the 2nd quarter. Formuepleje A S now owns 30,062 shares of the semiconductor company’s stock valued at $9,070,000 after buying an additional 27,609 shares during the period. TOWER TRUST & INVESTMENT Co increased its holdings in shares of KLA by 829.7% during the 2nd quarter. TOWER TRUST & INVESTMENT Co now owns 7,456 shares of the semiconductor company’s stock worth $2,249,000 after buying an additional 6,654 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of KLA by 7.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 275,745 shares of the semiconductor company’s stock worth $53,751,000 after buying an additional 19,700 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of KLA by 1,195.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 14,948 shares of the semiconductor company’s stock worth $4,510,000 after buying an additional 13,794 shares during the period. Finally, Colton Groome Financial Advisors LLC raised its position in shares of KLA by 40.1% in the 3rd quarter. Colton Groome Financial Advisors LLC now owns 28,728 shares of the semiconductor company’s stock worth $5,600,000 after buying an additional 8,225 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KLAC shares. Wells Fargo & Company reduced their target price on KLA from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. The Goldman Sachs Group restated a “neutral” rating and set a $230.00 price target on shares of KLA in a research note on Tuesday, July 28th. Zacks Research upgraded KLA from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Cantor Fitzgerald set a $240.00 price objective on KLA and gave the stock an “overweight” rating in a report on Thursday, October 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 price objective (down from $270.00) on shares of KLA in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $220.35.

KLA News Roundup

Here are the key news stories impacting KLA this week:

• Positive Sentiment: KLA declared a quarterly cash dividend of $0.23 per share, payable December 1 to shareholders of record November 16. The dividend provides a modest return to shareholders. KLA Declares Regular Cash Dividend
• Positive Sentiment: A bullish analysis highlights KLA’s strong quarterly results, AI-related demand, expanding margins, and upbeat guidance, including projected year-over-year revenue growth of 43% and EPS growth above 60% in the next quarter. KLA: Unfairly Caught Up In The Tech Carnage
• Positive Sentiment: Exchange-traded funds bought $52.3 million of KLAC shares on November 3, indicating institutional fund demand. ETFs Bought $52.3 Million of KLAC
• Neutral Sentiment: A report on a $17 billion hedge fund returning cash after a poor month discusses ownership and positioning in AI-chip stocks, including KLA. It may contribute to volatility, but does not by itself establish a change in KLA’s business outlook. Hedge Fund Returns Cash After Worst Month Since 2020
• Negative Sentiment: Unusually high put-option buying suggests some investors are hedging against, or betting on, downside in KLAC, a potentially bearish near-term signal. KLA Stock Sees Unusually High Put Option Buying

KLA Stock Performance

NASDAQ:KLAC opened at $138.49 on Monday. The business’s 50-day moving average is $174.83 and its two-hundred day moving average is $181.68. 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 12 month low of $107.20 and a 12 month high of $307.37. The firm has a market capitalization of $180.45 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 1.13 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. KLA had a return on equity of 89.30% and a net margin of 36.25%. The company had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the firm posted $8.47 earnings per share. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. Research analysts predict that KLA Corporation will post 5.73 earnings per share for the current fiscal year.

KLA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, November 16th. KLA’s dividend payout ratio (DPR) is presently 23.00%.

Insider Activity at KLA

In other KLA news, CEO Richard P. Wallace sold 87,568 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $198.95, for a total value of $17,421,653.60. Following the completion of the sale, the chief executive officer owned 778,944 shares of the company’s stock, valued at $154,970,908.80. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Lorig sold 59,586 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $208.13, for a total transaction of $12,401,634.18. Following the completion of the sale, the executive vice president directly owned 77,681 shares of the company’s stock, valued at $16,167,746.53. This trade represents a 43.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 219,173 shares of company stock worth $42,201,914 over the last three months. 79.39% of the stock is currently owned by corporate insiders.

KLA Company 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.