MorganRosel Wealth Management LLC Trims Stock Holdings in KLA Corporation (NASDAQ:KLAC)

MorganRosel Wealth Management LLC trimmed its position in KLA Corporation (NASDAQ:KLAC - Free Report) by 35.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 858 shares of the semiconductor company's stock after selling 475 shares during the quarter. MorganRosel Wealth Management LLC's holdings in KLA were worth $583,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Tortoise Investment Management LLC raised its holdings in shares of KLA by 300.0% during the 4th 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 bought a new stake in shares of KLA in the 4th quarter worth $31,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of KLA in the 4th quarter worth $32,000. Alpine Bank Wealth Management purchased a new position in shares of KLA in the first quarter worth approximately $35,000. Finally, Fairfield Financial Advisors LTD raised its position in KLA by 160.0% during the fourth quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company's stock valued at $41,000 after buying an additional 40 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on KLAC shares. Barclays reduced their target price on shares of KLA from $760.00 to $590.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Citigroup reduced their price objective on KLA from $910.00 to $800.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. UBS Group increased their target price on KLA from $690.00 to $740.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Needham & Company LLC reissued a "buy" rating and set a $830.00 target price on shares of KLA in a research note on Thursday, May 1st. Finally, TD Cowen lifted their target price on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $818.06.

KLA Trading Up 2.4%

KLA stock traded up $21.16 during trading hours on Wednesday, hitting $920.01. The stock had a trading volume of 502,409 shares, compared to its average volume of 1,128,236. The company has a quick ratio of 1.74, a current ratio of 2.54 and a debt-to-equity ratio of 1.47. The stock has a market cap of $121.66 billion, a price-to-earnings ratio of 33.43, a P/E/G ratio of 1.70 and a beta of 1.42. KLA Corporation has a one year low of $551.33 and a one year high of $921.66. The business's 50 day simple moving average is $789.66 and its 200-day simple moving average is $728.08.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, beating the consensus estimate of $8.08 by $0.33. The firm 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 company's quarterly revenue was up 35.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.26 earnings per share. On average, equities analysts predict that KLA Corporation will post 31.59 EPS for the current fiscal 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. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Monday, May 19th. This is a boost from KLA's previous quarterly dividend of $1.70. KLA's dividend payout ratio is currently 27.63%.

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

Insiders Place Their Bets

In other news, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the transaction, the chief executive officer directly owned 78,740 shares in the company, valued at approximately $53,803,042. This represents a 12.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total value of $781,022.74. Following the sale, the chief financial officer owned 27,779 shares of the company's stock, valued at $21,291,492.34. This represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company's stock.

About KLA

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.