Pinnacle Associates 13F: Cuts KLA (KLAC) Stake by $2.3M

Pinnacle Associates cut its holdings in KLA Corporation KLAC by 10.6% during the quarter, according to a Form 13F filing with the Securities and Exchange Commission on October 20, 2026. The firm sold 11,698 shares, leaving it with 98,381 shares valued at approximately $19.2 million.

KLAC KLA Corporation

$163.43 ▲ +28.71% year to date

1M 3M YTD

Daily close · Oct 21, 2026

What Changed in Pinnacle Associates's KLA Corporation Position

Pinnacle Associates reduced its footprint in the semiconductor equipment maker, dropping from 110,790 shares down to 98,381 shares. The decrease represents a 10.6% reduction in its position size for the chip tool provider.

Other Institutional Activity in KLA Corporation

Other large institutional investors made notable adjustments to their KLA Corporation holdings around the same time. Assenagon Asset Management S.A. grew its holdings by 3,959,927 shares, ending with 5,614,990 shares worth about $1.09 billion. Sumitomo Mitsui DS Asset Management Company added 19,700 shares to finish with 275,745 shares valued at roughly $53.8 million. On the other side, PensionDanmark Pensionsforsikringsaktieselskab trimmed its stake by 17,522 shares, holding 268,942 shares worth about $52.4 million. Meanwhile, Summit Financial Strategies completely exited its position by selling all 932 of its shares, and Ninety One SA (Pty) sold out its entire holding of 3,160 shares.

KLA Corporation Stock Down 7.3%

Shares of KLA Corporation recently traded around $161.74 as of October 22, 2026, remaining near the closing price of $161.74 recorded on the October 20 filing date. The stock trades well below its 52-week high of $307.37 and sits under both its 50-day moving average of $185.65 and its 200-day moving average of $181.41.

Recent Earnings

KLA Corporation posted trailing twelve-month revenue of $13.58 billion and earnings of $3.66 per share. The business operates with a net profit margin of 35.6% and a return on equity of 87.5%. The next quarterly update is scheduled for October 28, 2026.

Dividend

The company pays an annual dividend rate of $0.92 per share, giving it a dividend yield of 0.57% alongside a payout ratio of 21.9%.

Insider Buying and Selling at KLA Corporation

Company insiders completed several transactions ahead of the filing. Officer Ahmad A. Khan sold 33,180 shares on August 11, 2026, at an average price of $198.95 for a total value of about $6.6 million. Chief Financial Officer Bren D. Higgins sold 31,500 shares on August 12, 2026, at $209.87 per share, totaling roughly $6.61 million. Officer Brian W. Lorig sold 59,586 shares on August 13, 2026, at an average price of $208.13 for a total value of $12.4 million. Chief Executive Officer Richard P. Wallace later sold 72,019 shares on September 15, 2026, at $171.88 per share, netting about $12.38 million.

Analysts Set New Price Targets

Wall street research firms updated their outlooks on KLA Corporation over recent months. Stifel maintained a buy rating on July 29, 2026, while lowering its target from $270.00 to $250.00. RBC Capital kept a sector perform rating on the same day and raised its target from $170.00 to $180.00. Susquehanna maintained a neutral rating on July 29, reducing its price target from $275.00 to $215.00. UBS maintained a neutral rating on September 1, 2026, adjusting its target from $215.00 down to $200.00. Morgan Stanley maintained an overweight rating on October 6, 2026, lowering its target from $253.00 to $227.00. Across the broader analyst community, the stock carries a consensus buy recommendation and an average price target of $232.38.

About KLA Corporation

Headquartered in Milpitas, California, KLA Corporation provides process control and yield management solutions for semiconductor manufacturers. The company builds specialized inspection systems used worldwide to test wafers, reticles, and integrated circuits during chip production, making its equipment vital for high-volume semiconductor fabrication.

Bottom Line

Institutional investors continue to recalibrate their exposure to KLA Corporation amid shifting semiconductor market dynamics. Observers will look closely at the upcoming earnings report on October 28, 2026, for fresh details on demand across the company's process control segments.