Balentine LLC Takes Position in KLA Corporation (NASDAQ:KLAC)

Balentine LLC bought a new stake in KLA Corporation (NASDAQ:KLAC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,104 shares of the semiconductor company’s stock, valued at approximately $176,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new position in KLA during the third quarter worth approximately $31,000. Hanson & Doremus Investment Management lifted its position in KLA by 119.7% during the third quarter. Hanson & Doremus Investment Management now owns 290 shares of the semiconductor company’s stock worth $46,000 after buying an additional 158 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in KLA during the second quarter worth approximately $47,000. Princeton Global Asset Management LLC purchased a new position in KLA during the second quarter worth approximately $48,000. Finally, TD Capital Management LLC purchased a new position in KLA during the second quarter worth approximately $52,000. Institutional investors and hedge funds own 87.00% of the company’s stock.

In related news, CEO Amichai Steimberg sold 4,500 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $177.86, for a total transaction of $800,370.00. Also, EVP Brian Lorig sold 1,505 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $151.58, for a total value of $228,127.90. The disclosure for this sale can be found here. Insiders have sold a total of 30,809 shares of company stock valued at $5,195,153 over the last three months. 0.19% of the stock is currently owned by insiders.

KLAC has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on KLA from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. BidaskClub downgraded KLA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 23rd. Credit Suisse Group lifted their target price on KLA from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Co lifted their target price on KLA from $120.00 to $150.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Finally, Nomura initiated coverage on KLA in a research report on Wednesday. They issued a “buy” rating and a $215.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $172.00.

Shares of NASDAQ KLAC opened at $165.65 on Thursday. KLA Corporation has a twelve month low of $80.65 and a twelve month high of $179.95. The company has a current ratio of 2.24, a quick ratio of 1.60 and a debt-to-equity ratio of 1.18. The stock has a fifty day simple moving average of $167.43 and a 200-day simple moving average of $139.44. The stock has a market capitalization of $25.01 billion, a PE ratio of 19.58, a PEG ratio of 1.36 and a beta of 1.72.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $2.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.28. KLA had a return on equity of 54.53% and a net margin of 23.03%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The company’s revenue was up 29.3% on a year-over-year basis. On average, equities analysts predict that KLA Corporation will post 9.88 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.05%. This is a boost from KLA’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, November 15th. KLA’s payout ratio is presently 40.19%.

About KLA

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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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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