KLA Corporation $KLAC Shares Sold by Texas Capital Bancshares Inc TX

by · The Markets Daily

Texas Capital Bancshares Inc TX lessened its holdings in shares of KLA Corporation (NASDAQ:KLAC – Free Report) by 1.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,502 shares of the semiconductor company’s stock after selling 15 shares during the quarter. KLA accounts for about 0.4% of Texas Capital Bancshares Inc TX’s investment portfolio, making the stock its 27th largest holding. Texas Capital Bancshares Inc TX’s holdings in KLA were worth $1,021,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in KLA by 0.6% in the first quarter. Vanguard Group Inc. now owns 13,564,622 shares of the semiconductor company’s stock valued at $9,221,230,000 after acquiring an additional 80,154 shares in the last quarter. Goldman Sachs Group Inc. grew its position in KLA by 27.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,852,814 shares of the semiconductor company’s stock valued at $1,259,543,000 after acquiring an additional 404,634 shares in the last quarter. Northern Trust Corp grew its position in KLA by 13.8% in the fourth quarter. Northern Trust Corp now owns 1,685,200 shares of the semiconductor company’s stock valued at $1,061,878,000 after acquiring an additional 204,330 shares in the last quarter. GAMMA Investing LLC grew its position in KLA by 95,141.6% in the first quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company’s stock valued at $1,138,221,000 after acquiring an additional 1,672,589 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in KLA by 9.0% in the first quarter. Pictet Asset Management Holding SA now owns 1,586,781 shares of the semiconductor company’s stock valued at $1,078,526,000 after acquiring an additional 131,620 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

KLA Stock Performance

Shares of KLAC opened at $883.39 on Tuesday. The business’s fifty day moving average price is $903.60 and its 200 day moving average price is $782.31. KLA Corporation has a 12-month low of $551.33 and a 12-month high of $959.26. The stock has a market capitalization of $116.57 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 2.98 and a beta of 1.44. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.62 and a quick ratio of 1.83.

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 the consensus estimate of $8.53 by $0.85. KLA had a return on equity of 112.41% and a net margin of 33.41%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the business posted $6.60 earnings per share. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. Equities research analysts forecast that KLA Corporation will post 31.59 EPS for the current year.

KLA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be paid a dividend of $1.90 per share. The ex-dividend date is Monday, August 18th. This represents a $7.60 annualized dividend and a yield of 0.9%. KLA’s dividend payout ratio (DPR) is 25.01%.

KLA announced that its board has initiated 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 typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KLAC. UBS Group increased their price objective on shares of KLA from $775.00 to $960.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft cut KLA from a “buy” rating to a “hold” rating and set a $790.00 price target on the stock. in a research note on Tuesday, May 20th. TD Securities boosted their price target on KLA from $770.00 to $800.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on KLA from $900.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Raymond James Financial reiterated an “outperform” rating and set a $950.00 target price (up from $850.00) on shares of KLA in a research note on Friday, August 1st. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $890.59.

Check Out Our Latest Analysis on KLA

Insider Transactions at KLA

In other KLA news, CAO Virendra A. Kirloskar sold 39 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $891.50, for a total value of $34,768.50. Following the sale, the chief accounting officer directly owned 2,616 shares in the company, valued at approximately $2,332,164. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Bren D. Higgins sold 1,019 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were 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 owned 27,779 shares in the company, valued at $21,291,492.34. The trade was a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,908 shares of company stock valued at $18,038,659. Company insiders own 0.12% of the company’s stock.

KLA Profile

(Free Report)

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.

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