Navis Wealth Advisors LLC Has $3.14 Million Holdings in KLA Corporation (NASDAQ:KLAC)

Navis Wealth Advisors LLC grew its position in shares of KLA Corporation (NASDAQ:KLAC) by 0.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,615 shares of the semiconductor company’s stock after acquiring an additional 38 shares during the period. KLA accounts for approximately 3.1% of Navis Wealth Advisors LLC’s holdings, making the stock its 7th largest holding. Navis Wealth Advisors LLC’s holdings in KLA were worth $3,137,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KLAC. Tortoise Investment Management LLC lifted its stake in KLA by 300.0% in the fourth quarter. Tortoise Investment Management LLC now owns 48 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 36 shares during the last quarter. TCTC Holdings LLC bought a new position in shares of KLA during the fourth quarter valued at about $31,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of KLA in the fourth quarter worth about $32,000. Fairfield Financial Advisors LTD lifted its stake in shares of KLA by 160.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 65 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 40 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of KLA by 527.3% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 69 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 58 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on KLAC shares. TD Securities raised their price target on KLA from $770.00 to $800.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. Barclays dropped their price objective on KLA from $760.00 to $590.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus lifted their target price on shares of KLA from $750.00 to $770.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. UBS Group increased their price target on shares of KLA from $690.00 to $740.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Finally, Morgan Stanley cut their price target on shares of KLA from $870.00 to $868.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Ten investment analysts have rated the stock with a hold rating and ten have issued 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 $807.06.

Insiders Place Their Bets

In related news, CEO Richard P. Wallace sold 10,802 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the transaction, the chief executive officer now owns 78,740 shares of the company’s stock, valued at approximately $53,803,042. This represents a 12.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the sale, the chief financial officer now owns 27,779 shares of the company’s stock, valued at $21,291,492.34. This represents a 3.54% decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

KLA Stock Performance

KLA stock opened at $856.28 on Tuesday. KLA Corporation has a fifty-two week low of $551.33 and a fifty-two week high of $914.83. The stock’s 50 day simple moving average is $759.15 and its two-hundred day simple moving average is $718.30. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.74 and a current ratio of 2.54. The stock has a market cap of $113.23 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.62 and a beta of 1.40.

KLA (NASDAQ:KLAC) last announced its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 EPS for the quarter, beating analysts’ consensus estimates of $8.08 by $0.33. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.01 billion. KLA had a net margin of 31.99% and a return on equity of 112.97%. The company’s quarterly revenue was up 35.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.26 EPS. As a group, analysts expect that KLA Corporation will post 31.59 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, May 19th. This is an increase from KLA’s previous quarterly dividend of $1.70. KLA’s dividend payout ratio (DPR) is presently 27.63%.

KLA declared that its Board of Directors has authorized a share buyback program on Wednesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.