BNP Paribas Acquires Shares of 1704 KLA Co. (NASDAQ:KLAC) – Defense World
Posted by Defense World Staff on Jul 8th, 2024 
BNP Paribas acquired a new stake in shares of KLA Co. (NASDAQ:KLAC – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,704 shares of the semiconductor company’s stock, valued at approximately $1,190,000.
Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of KLA in the 4th quarter worth approximately $1,048,728,000. Dakota Wealth Management acquired a new position in KLA during the 1st quarter valued at approximately $627,399,000. Wellington Management Group LLP boosted its position in KLA by 12.2% during the 4th quarter. Wellington Management Group LLP now owns 3,546,308 shares of the semiconductor company’s stock valued at $2,061,469,000 after purchasing an additional 386,810 shares during the period. TD Asset Management Inc boosted its position in KLA by 43.4% during the 4th quarter. TD Asset Management Inc now owns 997,778 shares of the semiconductor company’s stock valued at $580,008,000 after purchasing an additional 301,848 shares during the period. Finally, AustralianSuper Pty Ltd boosted its position in KLA by 6,309.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 250,147 shares of the semiconductor company’s stock valued at $145,410,000 after purchasing an additional 246,244 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.
Shares of NASDAQ KLAC traded up $11.57 during mid-day trading on Monday, reaching $866.78. 99,216 shares of the company traded hands, compared to its average volume of 889,180. The company’s fifty day moving average is $777.54 and its two-hundred day moving average is $691.44. KLA Co. has a fifty-two week low of $440.15 and a fifty-two week high of $876.55. The stock has a market cap of $116.70 billion, a PE ratio of 44.80, a price-to-earnings-growth ratio of 3.38 and a beta of 1.27. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14.
KLA (NASDAQ:KLAC – Get Free Report) last announced its earnings results on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.32. KLA had a return on equity of 102.37% and a net margin of 27.19%. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company earned $5.49 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts expect that KLA Co. will post 23.3 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were paid a dividend of $1.45 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $5.80 annualized dividend and a yield of 0.67%. KLA’s payout ratio is 30.38%.
In other KLA news, CEO Richard P. Wallace sold 14,009 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total value of $10,039,269.67. Following the completion of the sale, the chief executive officer now owns 93,142 shares in the company, valued at approximately $66,748,351.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other KLA news, CEO Richard P. Wallace sold 14,009 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total value of $10,039,269.67. Following the completion of the sale, the chief executive officer now owns 93,142 shares in the company, valued at approximately $66,748,351.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $788.58, for a total value of $803,563.02. Following the completion of the sale, the chief financial officer now owns 31,356 shares of the company’s stock, valued at approximately $24,726,714.48. The disclosure for this sale can be found here. Insiders sold a total of 22,905 shares of company stock worth $16,831,966 in the last 90 days. 0.12% of the stock is owned by company insiders.
A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on KLA from $725.00 to $760.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Jefferies Financial Group assumed coverage on KLA in a research note on Monday, May 13th. They issued a “buy” rating and a $820.00 price objective on the stock. TD Cowen boosted their price objective on KLA from $650.00 to $700.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Cantor Fitzgerald lifted their target price on KLA from $625.00 to $800.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, StockNews.com cut KLA from a “buy” rating to a “hold” rating in a report on Monday, July 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $747.40.
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KLA Corporation designs, manufactures, and markets process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB, Display and Component Inspection.
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