KLA Corporation (NASDAQ:KLAC) Sees Significant Increase in Short Interest

KLA Corporation (NASDAQ:KLAC) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 3,260,000 shares, a growth of 16.4% from the December 15th total of 2,800,000 shares. Currently, 2.1% of the company’s stock are sold short. Based on an average trading volume of 1,270,000 shares, the days-to-cover ratio is presently 2.6 days.

KLAC stock traded up $2.09 during mid-day trading on Monday, reaching $175.10. 661,951 shares of the stock traded hands, compared to its average volume of 949,006. The company has a quick ratio of 1.60, a current ratio of 2.24 and a debt-to-equity ratio of 1.18. KLA has a 52 week low of $89.93 and a 52 week high of $182.70. The business has a 50-day moving average of $171.69 and a two-hundred day moving average of $154.36. The firm has a market capitalization of $27.50 billion, a PE ratio of 20.70, a P/E/G ratio of 1.48 and a beta of 1.68.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $2.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.28. KLA had a net margin of 23.03% and a return on equity of 54.53%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company earned $2.46 earnings per share. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. On average, equities research analysts anticipate that KLA will post 9.88 EPS for the current fiscal year.

Several research firms have commented on KLAC. UBS Group downgraded shares of KLA from a “buy” rating to a “sell” rating and lowered their target price for the stock from $192.00 to $140.00 in a research report on Wednesday, November 27th. Zacks Investment Research raised shares of KLA from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Tuesday, October 29th. ValuEngine downgraded shares of KLA from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub downgraded shares of KLA from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of KLA from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. KLA presently has a consensus rating of “Hold” and an average target price of $172.00.

In other KLA news, CEO Amichai Steimberg sold 4,500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $177.86, for a total transaction of $800,370.00. Also, EVP Teri A. Little sold 2,925 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.13, for a total transaction of $515,180.25. The disclosure for this sale can be found here. Insiders sold 20,053 shares of company stock worth $3,525,299 over the last ninety days. 0.19% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Independence Bank of Kentucky bought a new stake in KLA during the third quarter valued at about $31,000. Hanson & Doremus Investment Management boosted its holdings in KLA by 119.7% during the third quarter. Hanson & Doremus Investment Management now owns 290 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 158 shares during the period. CWM LLC boosted its holdings in KLA by 30.8% during the third quarter. CWM LLC now owns 327 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 77 shares during the period. Princeton Global Asset Management LLC bought a new stake in KLA during the second quarter valued at about $48,000. Finally, Reilly Financial Advisors LLC bought a new stake in KLA during the third quarter valued at about $80,000. Institutional investors own 88.07% of the company’s stock.

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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