Kraft Davis & Associates LLC Invests $228,000 in KLA Corporation (NASDAQ:KLAC)

Kraft Davis & Associates LLC acquired a new stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 361 shares of the semiconductor company's stock, valued at approximately $228,000.

Several other institutional investors have also added to or reduced their stakes in KLAC. Keyvantage Wealth LLC bought a new stake in shares of KLA during the fourth quarter valued at about $214,000. NBC Securities Inc. bought a new stake in shares of KLA during the first quarter valued at about $55,000. Wealth Enhancement Advisory Services LLC increased its position in shares of KLA by 4.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,221 shares of the semiconductor company's stock worth $15,787,000 after purchasing an additional 1,090 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of KLA by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 72,211 shares of the semiconductor company's stock worth $45,502,000 after purchasing an additional 659 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of KLA in the fourth quarter worth approximately $32,178,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Trading Down 1.4%

Shares of NASDAQ:KLAC traded down $13.07 during trading on Friday, reaching $889.87. 1,175,356 shares of the company traded hands, compared to its average volume of 1,128,467. The firm has a market capitalization of $117.68 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 1.72 and a beta of 1.40. KLA Corporation has a 52-week low of $551.33 and a 52-week high of $914.83. The company has a current ratio of 2.54, a quick ratio of 1.74 and a debt-to-equity ratio of 1.47. The business's fifty day moving average is $773.81 and its 200-day moving average is $722.42.

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

KLA Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Monday, May 19th. This is a positive change from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is 27.63%.

KLA declared that its board has initiated a share repurchase program on Wednesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Jefferies Financial Group restated a "hold" rating and issued a $725.00 price objective (down from $875.00) on shares of KLA in a research report on Friday, March 28th. Barclays decreased their price objective on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC restated a "buy" rating and issued a $830.00 price objective on shares of KLA in a research report on Thursday, May 1st. Finally, UBS Group upped their price objective on shares of KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $815.39.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 1,019 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the completion of the sale, the chief financial officer now owns 27,779 shares of the company's stock, valued at $21,291,492.34. This trade represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the sale, the chief executive officer now directly owns 78,740 shares of the company's stock, valued at $53,803,042. The trade was a 12.06% decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

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.