Texas Capital Bank Wealth Management Services Inc Reduces Holdings in KLA Co. (NASDAQ:KLAC)

Texas Capital Bank Wealth Management Services Inc lessened its stake in KLA Co. (NASDAQ:KLAC) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,071 shares of the semiconductor company’s stock after selling 600 shares during the period. KLA accounts for approximately 0.8% of Texas Capital Bank Wealth Management Services Inc’s portfolio, making the stock its 29th largest position. Texas Capital Bank Wealth Management Services Inc’s holdings in KLA were worth $8,236,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zacks Investment Management acquired a new stake in shares of KLA during the third quarter worth about $554,000. Y Intercept Hong Kong Ltd acquired a new stake in KLA during the 3rd quarter worth approximately $942,000. Continuum Advisory LLC grew its stake in shares of KLA by 13.1% in the 3rd quarter. Continuum Advisory LLC now owns 526 shares of the semiconductor company’s stock valued at $407,000 after purchasing an additional 61 shares during the last quarter. M&T Bank Corp increased its holdings in shares of KLA by 0.5% in the third quarter. M&T Bank Corp now owns 17,724 shares of the semiconductor company’s stock valued at $13,726,000 after purchasing an additional 83 shares during the period. Finally, Coldstream Capital Management Inc. raised its stake in shares of KLA by 10.7% during the third quarter. Coldstream Capital Management Inc. now owns 2,722 shares of the semiconductor company’s stock worth $2,081,000 after purchasing an additional 263 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Bren D. Higgins sold 7,008 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the sale, the chief financial officer now owns 28,798 shares in the company, valued at $20,867,606.76. This trade represents a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of KLA from $800.00 to $825.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Needham & Company LLC raised their price objective on shares of KLA from $800.00 to $830.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Morgan Stanley raised KLA from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $748.00 to $870.00 in a research note on Monday, March 31st. Wells Fargo & Company lifted their price target on KLA from $795.00 to $870.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $725.00 price objective (down previously from $875.00) on shares of KLA in a research report on Friday, March 28th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, KLA presently has an average rating of “Moderate Buy” and an average price target of $832.17.

KLA Price Performance

NASDAQ:KLAC traded down $32.76 during trading hours on Thursday, reaching $670.55. 443,744 shares of the company traded hands, compared to its average volume of 1,040,698. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.36 and a quick ratio of 1.63. The firm’s 50-day moving average is $708.82 and its 200-day moving average is $696.23. The stock has a market cap of $89.11 billion, a P/E ratio of 28.20, a P/E/G ratio of 1.57 and a beta of 1.37. KLA Co. has a 1-year low of $551.33 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping analysts’ consensus estimates of $7.73 by $0.47. KLA had a return on equity of 108.60% and a net margin of 29.58%. Equities research analysts expect that KLA Co. will post 31.59 earnings per share for the current fiscal year.

KLA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, February 24th. KLA’s payout ratio is 28.60%.

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.