Security National Bank Raises Holdings in KLA Corporation (NASDAQ:KLAC)

Security National Bank grew its holdings in KLA Corporation (NASDAQ:KLAC - Free Report) by 18.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,442 shares of the semiconductor company's stock after buying an additional 831 shares during the quarter. Security National Bank's holdings in KLA were worth $3,699,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Alpine Bank Wealth Management purchased a new stake in shares of KLA in the first quarter valued at approximately $35,000. HBK Sorce Advisory LLC increased its position in shares of KLA by 23.9% during the first quarter. HBK Sorce Advisory LLC now owns 1,085 shares of the semiconductor company's stock worth $737,000 after purchasing an additional 209 shares in the last quarter. Pinnacle Bancorp Inc. increased its position in shares of KLA by 21.0% during the first quarter. Pinnacle Bancorp Inc. now owns 121 shares of the semiconductor company's stock worth $82,000 after purchasing an additional 21 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of KLA by 545.9% during the first quarter. Golden State Wealth Management LLC now owns 239 shares of the semiconductor company's stock worth $162,000 after purchasing an additional 202 shares in the last quarter. Finally, Golden State Equity Partners purchased a new stake in shares of KLA during the first quarter worth approximately $201,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

KLA Trading Down 1.4%

Shares of KLA stock traded down $13.07 during trading hours on Friday, hitting $889.87. The company's stock had a trading volume of 1,175,356 shares, compared to its average volume of 1,128,467. KLA Corporation has a twelve month low of $551.33 and a twelve month high of $914.83. The firm has a fifty day moving average of $773.81 and a 200-day moving average of $722.42. The stock has a market cap 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. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.74 and a current ratio of 2.54.

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

KLA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were paid a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date 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 announced that its board has initiated a stock buyback plan on Wednesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KLAC shares. TD Securities boosted their price target on KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. UBS Group boosted their price target on KLA from $690.00 to $740.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft cut KLA from a "buy" rating to a "hold" rating and set a $790.00 price target for the company. in a research report on Tuesday, May 20th. Cowen reiterated a "hold" rating on shares of KLA in a research report on Thursday, May 1st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $830.00 price target on shares of KLA in a research report on Thursday, May 1st. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $815.39.

Insider Activity

In related news, CFO Bren D. Higgins sold 1,019 shares of the business'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 sale, the chief financial officer now owns 27,779 shares in the company, valued at approximately $21,291,492.34. The trade was a 3.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard P. Wallace sold 10,802 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer now owns 78,740 shares in the company, valued at $53,803,042. This represents a 12.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company's stock.

KLA Company 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.