Teachers Retirement System of The State of Kentucky Sells 4,850 Shares of KLA Corporation (NASDAQ:KLAC)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of KLA Corporation (NASDAQ:KLAC) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,422 shares of the semiconductor company’s stock after selling 4,850 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in KLA were worth $15,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of KLAC. Oppenheimer Asset Management Inc. boosted its position in shares of KLA by 77.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 25,372 shares of the semiconductor company’s stock valued at $3,647,000 after acquiring an additional 11,085 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in shares of KLA by 15.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,897 shares of the semiconductor company’s stock valued at $273,000 after acquiring an additional 249 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of KLA by 29.9% during the 1st quarter. Cetera Investment Advisers now owns 1,825 shares of the semiconductor company’s stock valued at $262,000 after acquiring an additional 420 shares during the last quarter. Swiss National Bank boosted its position in shares of KLA by 22.0% during the 1st quarter. Swiss National Bank now owns 612,406 shares of the semiconductor company’s stock valued at $88,027,000 after acquiring an additional 110,300 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of KLA by 0.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,147 shares of the semiconductor company’s stock valued at $2,178,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 89.38% of the company’s stock.

A number of analysts recently weighed in on KLAC shares. Wells Fargo & Company boosted their target price on KLA from $160.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Cowen boosted their target price on KLA from $200.00 to $205.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. Deutsche Bank boosted their target price on KLA from $180.00 to $195.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. ValuEngine upgraded KLA from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Morgan Stanley boosted their target price on KLA from $167.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $206.94.

In related news, CFO Bren D. Higgins sold 3,074 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $200.95, for a total value of $617,720.30. Following the sale, the chief financial officer now directly owns 2,749 shares of the company’s stock, valued at $552,411.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard P. Wallace sold 35,115 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $210.78, for a total value of $7,401,539.70. Following the completion of the sale, the chief executive officer now directly owns 96,853 shares in the company, valued at $20,414,675.34. The disclosure for this sale can be found here. Insiders have sold 58,130 shares of company stock worth $12,053,384 over the last three months. Insiders own 0.19% of the company’s stock.

Shares of KLAC traded up $0.05 during mid-day trading on Wednesday, hitting $180.81. 1,624,469 shares of the company’s stock traded hands, compared to its average volume of 1,499,735. The company has a quick ratio of 2.01, a current ratio of 2.78 and a debt-to-equity ratio of 1.29. KLA Corporation has a 1 year low of $110.19 and a 1 year high of $218.57. The firm has a market capitalization of $28.10 billion, a P/E ratio of 23.68, a PEG ratio of 2.00 and a beta of 1.29. The business’s 50-day moving average price is $199.94 and its 200-day moving average price is $176.78.

KLA (NASDAQ:KLAC) last posted its earnings results on Monday, August 3rd. The semiconductor company reported $2.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.35 by $0.38. KLA had a return on equity of 63.04% and a net margin of 20.96%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm earned $1.78 earnings per share. The business’s revenue was up 16.0% compared to the same quarter last year. Sell-side analysts anticipate that KLA Corporation will post 11.4 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a dividend of $0.90 per share. The ex-dividend date was Friday, August 14th. This is a boost from KLA’s previous quarterly dividend of $0.85. This represents a $3.60 annualized dividend and a dividend yield of 1.99%. KLA’s payout ratio is 34.78%.

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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