Moody National Bank Trust Division Makes New Investment in KLA Co. (NASDAQ:KLAC)

Moody National Bank Trust Division bought a new position in shares of KLA Co. (NASDAQ:KLACGet Rating) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,601 shares of the semiconductor company’s stock, valued at approximately $511,000.

Several other institutional investors have also recently made changes to their positions in the stock. Mutual Advisors LLC lifted its position in shares of KLA by 1.3% during the fourth quarter. Mutual Advisors LLC now owns 2,085 shares of the semiconductor company’s stock worth $897,000 after acquiring an additional 27 shares in the last quarter. Prestige Wealth Management Group LLC increased its holdings in shares of KLA by 21.8% in the fourth quarter. Prestige Wealth Management Group LLC now owns 162 shares of the semiconductor company’s stock worth $70,000 after purchasing an additional 29 shares during the period. Balasa Dinverno & Foltz LLC increased its holdings in shares of KLA by 3.9% in the first quarter. Balasa Dinverno & Foltz LLC now owns 835 shares of the semiconductor company’s stock worth $306,000 after purchasing an additional 31 shares during the period. Ritholtz Wealth Management increased its holdings in shares of KLA by 3.0% in the first quarter. Ritholtz Wealth Management now owns 1,137 shares of the semiconductor company’s stock worth $416,000 after purchasing an additional 33 shares during the period. Finally, Trust Asset Management LLC increased its holdings in shares of KLA by 2.3% in the first quarter. Trust Asset Management LLC now owns 1,538 shares of the semiconductor company’s stock worth $563,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In other KLA news, EVP Oreste Donzella sold 96 shares of the firm’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $320.00, for a total value of $30,720.00. Following the completion of the sale, the executive vice president now directly owns 35,442 shares in the company, valued at $11,341,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other KLA news, insider Ahmad A. Khan sold 7,736 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $360.26, for a total transaction of $2,786,971.36. Following the completion of the transaction, the insider now owns 77,927 shares of the company’s stock, valued at $28,073,981.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Oreste Donzella sold 96 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $320.00, for a total transaction of $30,720.00. Following the transaction, the executive vice president now directly owns 35,442 shares of the company’s stock, valued at approximately $11,341,440. The disclosure for this sale can be found here. Insiders sold 14,761 shares of company stock worth $5,468,670 over the last three months. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Evercore ISI set a $425.00 price target on shares of KLA in a report on Monday, June 20th. Wells Fargo & Company decreased their price target on shares of KLA from $400.00 to $375.00 and set an “overweight” rating on the stock in a report on Friday, July 15th. KeyCorp increased their target price on KLA from $375.00 to $410.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Piper Sandler reduced their target price on KLA from $385.00 to $352.00 and set a “neutral” rating on the stock in a research note on Thursday, May 26th. Finally, StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $424.16.

KLA Stock Performance

KLA stock opened at $335.53 on Monday. The company has a current ratio of 2.50, a quick ratio of 1.75 and a debt-to-equity ratio of 4.76. The firm has a 50-day moving average of $356.75 and a 200-day moving average of $343.98. The firm has a market cap of $47.58 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.09 and a beta of 1.35. KLA Co. has a 1-year low of $282.83 and a 1-year high of $457.12.

KLA (NASDAQ:KLACGet Rating) last posted its earnings results on Thursday, July 28th. The semiconductor company reported $5.81 earnings per share for the quarter, topping analysts’ consensus estimates of $5.46 by $0.35. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.42 billion. KLA had a net margin of 36.06% and a return on equity of 95.80%. KLA’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.43 earnings per share. Sell-side analysts expect that KLA Co. will post 24.65 EPS for the current year.

KLA declared that its Board of Directors has authorized a share buyback plan on Thursday, June 16th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 12.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

KLA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a $1.30 dividend. The ex-dividend date was Friday, August 12th. This is a positive change from KLA’s previous quarterly dividend of $1.05. This represents a $5.20 annualized dividend and a yield of 1.55%. KLA’s dividend payout ratio (DPR) is 23.74%.

KLA Profile

(Get Rating)

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 four segments: Semiconductor Process Control; Specialty Semiconductor Process; PCB, Display and Component Inspection; and Other.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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