Davidson Capital Management Inc. Sells 357 Shares of KLA Co. (NASDAQ:KLAC)

Davidson Capital Management Inc. trimmed its holdings in shares of KLA Co. (NASDAQ:KLAC) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,974 shares of the semiconductor company’s stock after selling 357 shares during the quarter. KLA accounts for approximately 1.0% of Davidson Capital Management Inc.’s investment portfolio, making the stock its 19th largest holding. Davidson Capital Management Inc.’s holdings in KLA were worth $3,277,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KLAC. 9258 Wealth Management LLC purchased a new position in shares of KLA in the 4th quarter valued at $210,000. D.A. Davidson & CO. grew its stake in KLA by 4.3% in the fourth quarter. D.A. Davidson & CO. now owns 4,041 shares of the semiconductor company’s stock valued at $2,349,000 after purchasing an additional 168 shares during the last quarter. Corient Private Wealth LLC raised its holdings in KLA by 9.1% in the fourth quarter. Corient Private Wealth LLC now owns 40,048 shares of the semiconductor company’s stock worth $23,279,000 after purchasing an additional 3,347 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of KLA during the fourth quarter valued at about $562,000. Finally, CreativeOne Wealth LLC bought a new stake in shares of KLA in the 4th quarter valued at about $667,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on KLAC shares. Barclays boosted their price objective on shares of KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Susquehanna decreased their price objective on KLA from $730.00 to $680.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Cantor Fitzgerald reissued a “neutral” rating and issued a $950.00 price objective on shares of KLA in a research report on Thursday, July 25th. Argus upped their target price on KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company raised their price target on KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $812.80.

KLA Trading Up 5.7 %

NASDAQ KLAC opened at $772.43 on Friday. KLA Co. has a 1 year low of $440.15 and a 1 year high of $896.32. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. The company has a market capitalization of $104.00 billion, a PE ratio of 40.46, a P/E/G ratio of 1.49 and a beta of 1.28. The company has a fifty day moving average of $774.96 and a 200 day moving average of $754.38.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.15 by $0.45. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.52 billion. KLA had a return on equity of 103.50% and a net margin of 28.15%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.40 EPS. Research analysts forecast that KLA Co. will post 29.09 earnings per share for the current year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $1.45 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.80 annualized dividend and a yield of 0.75%. KLA’s dividend payout ratio is presently 30.38%.

Insider Transactions at KLA

In related news, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the transaction, the executive vice president now directly owns 14,211 shares in the company, valued at approximately $11,644,493.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other KLA news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total value of $12,293,259.37. Following the sale, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at $74,257,998.29. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brian Lorig sold 44 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total value of $36,053.60. Following the completion of the sale, the executive vice president now owns 14,211 shares of the company’s stock, valued at $11,644,493.40. The disclosure for this sale can be found here. Insiders have sold 20,917 shares of company stock valued at $14,568,247 in the last 90 days. 0.12% of the stock is currently owned by company insiders.

About KLA

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.