Texas Capital Bank Wealth Management Services Inc Sells 1,421 Shares of KLA Corporation $KLAC

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Texas Capital Bank Wealth Management Services Inc cut its stake in KLA Corporation (NASDAQ:KLAC - Free Report) by 10.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,650 shares of the semiconductor company's stock after selling 1,421 shares during the quarter. Texas Capital Bank Wealth Management Services Inc's holdings in KLA were worth $7,920,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. raised its position in shares of KLA by 22.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 23,894 shares of the semiconductor company's stock valued at $16,243,000 after purchasing an additional 4,453 shares during the period. Cornerstone Select Advisors LLC raised its position in shares of KLA by 10.5% in the first quarter. Cornerstone Select Advisors LLC now owns 2,250 shares of the semiconductor company's stock valued at $1,530,000 after purchasing an additional 213 shares during the period. Aptus Capital Advisors LLC raised its position in shares of KLA by 106.5% in the first quarter. Aptus Capital Advisors LLC now owns 1,790 shares of the semiconductor company's stock valued at $1,217,000 after purchasing an additional 923 shares during the period. Brooklyn Investment Group raised its position in shares of KLA by 107.0% in the first quarter. Brooklyn Investment Group now owns 1,012 shares of the semiconductor company's stock valued at $687,000 after purchasing an additional 523 shares during the period. Finally, Valley Brook Capital Group Inc. raised its position in shares of KLA by 3.0% in the first quarter. Valley Brook Capital Group Inc. now owns 1,033 shares of the semiconductor company's stock valued at $702,000 after purchasing an additional 30 shares during the period. 86.65% of the stock is owned by institutional investors.

Insider Activity at KLA

In other news, EVP Brian Lorig sold 8,049 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $913.68, for a total value of $7,354,210.32. Following the sale, the executive vice president directly owned 11,479 shares in the company, valued at approximately $10,488,132.72. This trade represents a 41.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Virendra A. Kirloskar sold 39 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $891.50, for a total transaction of $34,768.50. Following the completion of the sale, the chief accounting officer owned 2,616 shares in the company, valued at approximately $2,332,164. The trade was a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,908 shares of company stock valued at $18,038,659. 0.12% of the stock is currently owned by company insiders.

KLA Trading Up 1.0%

Shares of KLA stock opened at $883.39 on Tuesday. The company has a market capitalization of $116.57 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 2.98 and a beta of 1.44. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 1.25. KLA Corporation has a 12-month low of $551.33 and a 12-month high of $959.26. The firm's 50-day moving average price is $903.60 and its two-hundred day moving average price is $782.31.

KLA (NASDAQ:KLAC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $9.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.53 by $0.85. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. KLA had a net margin of 33.41% and a return on equity of 112.41%. The business's revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the prior year, the company posted $6.60 earnings per share. On average, analysts forecast that KLA Corporation will post 31.59 earnings per share for the current fiscal year.

KLA announced that its board has authorized a share repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Monday, August 18th will be paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, August 18th. KLA's dividend payout ratio (DPR) is presently 25.01%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of KLA in a research report on Tuesday, June 24th. Wall Street Zen lowered shares of KLA from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $830.00 price target on shares of KLA in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft lowered shares of KLA from a "buy" rating to a "hold" rating and set a $790.00 price target on the stock. in a research report on Tuesday, May 20th. Finally, TD Cowen raised their price target on shares of KLA from $800.00 to $900.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $890.59.

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.

Want to see what other hedge funds are holding KLAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KLA Corporation (NASDAQ:KLAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.