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KLA Co. (NASDAQ:KLAC) was the recipient of a significant growth in short interest in the month of October. As of October 29th, there was short interest totalling 2,990,000 shares, a growth of 18.2% from the October 14th total of 2,530,000 shares. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately 2.0% of the shares of the company are short sold.
A number of research analysts recently issued reports on KLAC shares. UBS Group lifted their target price on KLA from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Thursday, October 28th. Zacks Investment Research upgraded KLA from a “hold” rating to a “buy” rating and set a $373.00 price target on the stock in a research note on Friday, October 29th. Deutsche Bank Aktiengesellschaft lifted their target price on KLA from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, October 28th. Wells Fargo & Company boosted their price target on KLA from $345.00 to $360.00 and gave the company an “equal weight” rating in a research report on Thursday, October 28th. Finally, Credit Suisse Group boosted their price target on KLA from $380.00 to $430.00 and gave the company an “outperform” rating in a research report on Thursday, October 28th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, KLA presently has an average rating of “Buy” and a consensus price target of $401.65.
In other news, EVP Mary Beth Wilkinson sold 3,505 shares of the firm’s stock in a transaction dated Wednesday, September 22nd. The shares were sold at an average price of $359.13, for a total value of $1,258,750.65. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Bren D. Higgins sold 6,617 shares of the firm’s stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $335.92, for a total transaction of $2,222,782.64. Following the completion of the transaction, the chief financial officer now directly owns 6,827 shares in the company, valued at $2,293,325.84. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC raised its holdings in shares of KLA by 137.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 13,948 shares of the semiconductor company’s stock worth $4,608,000 after purchasing an additional 8,074 shares during the period. Eaton Vance Management raised its holdings in KLA by 18.4% during the 1st quarter. Eaton Vance Management now owns 4,901 shares of the semiconductor company’s stock valued at $1,619,000 after acquiring an additional 763 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of KLA by 2.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 28,368 shares of the semiconductor company’s stock worth $9,373,000 after purchasing an additional 756 shares during the period. Paloma Partners Management Co increased its holdings in shares of KLA by 23.5% in the first quarter. Paloma Partners Management Co now owns 3,234 shares of the semiconductor company’s stock worth $1,069,000 after purchasing an additional 616 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in shares of KLA by 24.5% in the first quarter. Squarepoint Ops LLC now owns 13,269 shares of the semiconductor company’s stock worth $4,384,000 after purchasing an additional 2,611 shares during the period. Hedge funds and other institutional investors own 85.97% of the company’s stock.
KLAC opened at $422.38 on Monday. The business has a fifty day simple moving average of $363.98 and a 200 day simple moving average of $335.95. The company has a market capitalization of $64.04 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.23. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.44 and a quick ratio of 1.76. KLA has a 1 year low of $242.48 and a 1 year high of $426.84.
KLA (NASDAQ:KLAC) last issued its quarterly earnings results on Tuesday, October 26th. The semiconductor company reported $4.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.12. KLA had a net margin of 36.52% and a return on equity of 75.15%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the company earned $3.03 EPS. The company’s revenue for the quarter was up 35.4% on a year-over-year basis. Equities analysts anticipate that KLA will post 21.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Monday, November 15th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, November 12th. This represents a $4.20 annualized dividend and a yield of 0.99%. KLA’s payout ratio is currently 23.78%.
KLA announced that its Board of Directors has approved a stock repurchase program on Thursday, July 29th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
KLA Company Profile
KLA Corp. engages in the supply of process control and yield management solutions for the semiconductor and related nano-electronics industries. The company operates through the following segments; Semiconductor Process Control, Specialty Semiconductor Process, PCB, Display & Component Inspection and Other.
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