Davidson Capital Management Inc. Has $3.21 Million Holdings in KLA Corporation (NASDAQ:KLAC)

Davidson Capital Management Inc. decreased its position in KLA Corporation (NASDAQ:KLAC - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,727 shares of the semiconductor company's stock after selling 291 shares during the quarter. KLA comprises approximately 0.9% of Davidson Capital Management Inc.'s holdings, making the stock its 18th largest position. Davidson Capital Management Inc.'s holdings in KLA were worth $3,214,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tortoise Investment Management LLC lifted its holdings in shares of KLA by 300.0% in the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company's stock valued at $30,000 after buying an additional 36 shares during the period. TCTC Holdings LLC acquired a new stake in shares of KLA during the fourth quarter worth $31,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of KLA during the fourth quarter worth $32,000. Fairfield Financial Advisors LTD raised its position in shares of KLA by 160.0% during the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 40 shares during the period. Finally, Hurley Capital LLC acquired a new stake in shares of KLA during the fourth quarter worth $51,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Insider Transactions at KLA

In related news, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total transaction of $781,022.74. Following the completion of the sale, the chief financial officer now owns 27,779 shares in the company, valued at $21,291,492.34. This represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total value of $7,381,006.60. Following the sale, the chief executive officer now owns 78,740 shares of the company's stock, valued at approximately $53,803,042. The trade was a 12.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,829 shares of company stock worth $13,240,166. 0.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Oppenheimer boosted their target price on KLA from $740.00 to $950.00 and gave the stock an "outperform" rating in a research report on Tuesday. Jefferies Financial Group reaffirmed a "hold" rating and set a $725.00 target price (down from $875.00) on shares of KLA in a research report on Friday, March 28th. Wall Street Zen lowered KLA from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Deutsche Bank Aktiengesellschaft lowered KLA from a "buy" rating to a "hold" rating and set a $790.00 target price on the stock. in a research report on Tuesday, May 20th. Finally, TD Cowen upped their price target on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $807.06.

KLA Stock Down 2.4%

KLAC stock traded down $21.16 during mid-day trading on Friday, hitting $850.00. The stock had a trading volume of 2,347,795 shares, compared to its average volume of 1,127,278. The company has a current ratio of 2.54, a quick ratio of 1.74 and a debt-to-equity ratio of 1.47. KLA Corporation has a 1-year low of $551.33 and a 1-year high of $914.83. The company has a fifty day moving average of $751.83 and a 200 day moving average of $714.72. The stock has a market capitalization of $112.40 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 1.66 and a beta of 1.40.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.08 by $0.33. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.01 billion. KLA had a return on equity of 112.97% and a net margin of 31.99%. The firm's revenue was up 35.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.26 EPS. On average, equities analysts expect that KLA Corporation will post 31.59 EPS for the current fiscal year.

KLA announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Monday, May 19th. This is an increase from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is 27.63%.

KLA Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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 and Component Inspection.