BI Asset Management Fondsmaeglerselskab A S Raises Stock Position in KLA Corporation $KLAC

BI Asset Management Fondsmaeglerselskab A S raised its holdings in KLA Corporation (NASDAQ:KLAC) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 101,382 shares of the semiconductor company’s stock after acquiring an additional 5,586 shares during the period. KLA accounts for 1.0% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 13th biggest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in KLA were worth $109,351,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Dorsey Wright & Associates purchased a new stake in KLA in the 2nd quarter worth approximately $292,000. BLI Banque de Luxembourg Investments increased its holdings in KLA by 631.6% in the second quarter. BLI Banque de Luxembourg Investments now owns 15,290 shares of the semiconductor company’s stock valued at $13,603,000 after buying an additional 13,200 shares in the last quarter. Cozad Asset Management Inc. acquired a new position in shares of KLA in the second quarter worth about $237,000. Waterloo Capital L.P. purchased a new stake in shares of KLA during the 2nd quarter worth about $337,000. Finally, Oak Associates Ltd. OH grew its position in shares of KLA by 1.7% during the 2nd quarter. Oak Associates Ltd. OH now owns 90,116 shares of the semiconductor company’s stock valued at $80,721,000 after acquiring an additional 1,504 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on KLA from $1,550.00 to $1,600.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of KLA from $1,070.00 to $1,485.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Citigroup lifted their target price on shares of KLA from $1,450.00 to $1,800.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Cantor Fitzgerald boosted their target price on shares of KLA from $1,750.00 to $1,850.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, Barclays raised their price target on shares of KLA from $1,595.00 to $1,700.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued 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 $1,582.89.

Insider Activity at KLA

In related news, CEO Richard P. Wallace sold 10,803 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $1,203.10, for a total value of $12,997,089.30. Following the completion of the transaction, the chief executive officer directly owned 81,211 shares in the company, valued at approximately $97,704,954.10. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Bren D. Higgins sold 2,254 shares of KLA stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $1,237.01, for a total value of $2,788,220.54. Following the completion of the sale, the chief financial officer owned 32,154 shares in the company, valued at $39,774,819.54. This represents a 6.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 91.48% of the company’s stock.

KLA Stock Down 3.6%

NASDAQ KLAC opened at $1,307.22 on Thursday. The business’s fifty day simple moving average is $1,338.33 and its 200-day simple moving average is $1,135.42. The company has a quick ratio of 2.00, a current ratio of 2.83 and a debt-to-equity ratio of 1.08. The firm has a market cap of $171.35 billion, a PE ratio of 38.03, a P/E/G ratio of 2.74 and a beta of 1.47. KLA Corporation has a 52 week low of $551.33 and a 52 week high of $1,693.35.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Thursday, January 29th. The semiconductor company reported $8.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.75 by $0.10. KLA had a net margin of 35.76% and a return on equity of 98.18%. The firm had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the firm posted $8.20 earnings per share. KLA’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts anticipate that KLA Corporation will post 31.59 earnings per share for the current year.

KLA Profile

KLA is a provider of process control and yield management solutions for the semiconductor and related microelectronics industries. The company designs and manufactures equipment, software and services used by chipmakers to analyze and control manufacturing processes, detect defects, measure critical dimensions and improve yield across wafer fabrication, photomask and packaging operations. KLA’s offerings are aimed at enabling production of advanced logic, memory, and specialty devices at progressively smaller technology nodes and more complex package structures.

Its product portfolio includes optical and e-beam inspection systems, metrology tools for critical dimension and film measurement, mask and reticle inspection platforms, as well as enterprise software and data analytics that aggregate process data and drive automated process control.