BNY Mellon Buys $2.52 Billion KLA Stake Following Strong Revenue Growth

Bank of New York Mellon Corp acquired 8,360,447 shares of KLA Corporation during the second quarter.

The investment is valued at approximately $2.52 billion.

This purchase gives the bank a 0.64% ownership stake in the semiconductor equipment manufacturer.

Twenty-nine analysts maintain a consensus Moderate Buy rating on KLAC shares.

The average 12-month price target for the stock is $223.70.

KLA Corporation reported quarterly revenue of $3.66 billion.

This figure represents a 15.2% year-over-year increase and exceeded consensus estimates.