Cutter & CO Brokerage Inc. Has $430,000 Stock Holdings in KLA Corporation (NASDAQ:KLAC)

Cutter & CO Brokerage Inc. lifted its position in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 78.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 631 shares of the semiconductor company's stock after purchasing an additional 278 shares during the period. Cutter & CO Brokerage Inc.'s holdings in KLA were worth $430,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in shares of KLA during the fourth quarter valued at about $31,000. Alpine Bank Wealth Management purchased a new position in KLA in the first quarter valued at about $35,000. Olde Wealth Management LLC acquired a new stake in KLA during the 1st quarter valued at approximately $36,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in KLA by 527.3% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 58 shares during the last quarter. Finally, HM Payson & Co. increased its holdings in KLA by 270.0% during the 1st quarter. HM Payson & Co. now owns 74 shares of the semiconductor company's stock worth $50,000 after purchasing an additional 54 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Stock Performance

KLA stock traded up $14.18 during mid-day trading on Tuesday, hitting $936.02. 180,179 shares of the company's stock traded hands, compared to its average volume of 1,132,315. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47. KLA Corporation has a one year low of $551.33 and a one year high of $942.50. The firm has a 50 day moving average price of $831.41 and a 200 day moving average price of $746.07. The company has a market cap of $123.78 billion, a PE ratio of 34.05, a price-to-earnings-growth ratio of 1.72 and a beta of 1.42.

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

KLA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were given a dividend of $1.90 per share. The ex-dividend date was Monday, May 19th. This is a boost from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a dividend yield of 0.81%. KLA's dividend payout ratio (DPR) is 27.63%.

KLA announced that its Board of Directors has authorized a share buyback program on Wednesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

KLAC has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of KLA in a research report on Tuesday, June 24th. Citigroup reissued a "buy" rating and set a $1,035.00 price objective (up from $835.00) on shares of KLA in a report on Monday, July 7th. Cowen restated a "hold" rating on shares of KLA in a research note on Thursday, May 1st. Morgan Stanley lifted their price target on KLA from $868.00 to $916.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Jefferies Financial Group restated a "hold" rating and set a $725.00 price objective (down previously from $875.00) on shares of KLA in a research note on Friday, March 28th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $840.33.

Insider Transactions at KLA

In related news, CAO Virendra A. Kirloskar sold 39 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $891.50, for a total transaction of $34,768.50. Following the completion of the transaction, the chief accounting officer owned 2,616 shares of the company's stock, valued at $2,332,164. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Bren D. Higgins sold 1,019 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were 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 directly owned 27,779 shares of the company's stock, valued at $21,291,492.34. The trade was a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,860 shares of company stock valued at $8,196,798. Corporate insiders own 0.12% of the company's stock.

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.