KLA Corporation $KLAC Stock Purchased by Cullinan Associates Inc.

Cullinan Associates Inc. lifted its holdings in KLA Corporation (NASDAQ:KLAC) by 7.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,055 shares of the semiconductor company’s stock after buying an additional 4,412 shares during the period. KLA makes up approximately 0.9% of Cullinan Associates Inc.’s portfolio, making the stock its 24th biggest holding. Cullinan Associates Inc.’s holdings in KLA were worth $12,486,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in 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 acquiring an additional 13,381,153 shares during the period. Bank of New York Mellon Corp purchased a new position in KLA in the second quarter worth $2,522,430,000. Assenagon Asset Management S.A. boosted its position in KLA by 239.3% in the third quarter. Assenagon Asset Management S.A. now owns 5,614,990 shares of the semiconductor company’s stock worth $1,094,530,000 after purchasing an additional 3,959,927 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in KLA by 5.3% in the 3rd quarter. Pictet Asset Management Holding SA now owns 5,113,870 shares of the semiconductor company’s stock valued at $997,000,000 after purchasing an additional 256,716 shares during the period. Finally, National Pension Service grew its stake in KLA by 899.4% in the 2nd quarter. National Pension Service now owns 3,634,859 shares of the semiconductor company’s stock valued at $1,096,673,000 after purchasing an additional 3,271,158 shares during the period. 86.65% of the stock is owned by institutional investors.

Trending Headlines about KLA

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 Price Performance

NASDAQ KLAC opened at $138.49 on Friday. The company has a quick ratio of 1.86, a current ratio of 2.76 and a debt-to-equity ratio of 0.88. The company has a market cap 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 Corporation has a 52 week low of $107.20 and a 52 week high of $307.37. The firm’s 50-day simple moving average is $174.83 and its two-hundred day simple moving average is $181.68.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 28th. The semiconductor company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.04. KLA had a net margin of 36.25% and a return on equity of 89.30%. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter last year, the company earned $8.47 earnings per share. The company’s 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 year.

KLA Dividend Announcement

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

Insider Transactions at KLA

In other KLA news, CEO Richard P. Wallace sold 72,019 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $171.88, for a total value of $12,378,625.72. Following the completion of the transaction, the chief executive officer owned 706,925 shares in the company, valued at $121,506,269. This trade represents a 9.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Lorig sold 59,586 shares of KLA stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $208.13, for a total value of $12,401,634.18. Following the transaction, the executive vice president directly owned 77,681 shares of the company’s stock, valued at $16,167,746.53. The trade was 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 in the last three months. 79.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KLAC. JPMorgan Chase & Co. raised their target price on KLA from $238.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Morgan Stanley reissued an “overweight” rating and issued a $220.00 price target on shares of KLA in a report on Thursday, October 29th. Cantor Fitzgerald set a $240.00 price target on shares of KLA and gave the stock an “overweight” rating in a report on Thursday, October 29th. Oppenheimer restated an “outperform” rating and set a $260.00 price target (up from $200.00) on shares of KLA in a research report on Thursday, July 16th. Finally, Susquehanna decreased their price objective on shares of KLA from $215.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $220.35.

About KLA

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.