Atlantic Union Bankshares Corp Sells 655 Shares of KLA Co. (NASDAQ:KLAC)

Atlantic Union Bankshares Corp cut its position in KLA Co. (NASDAQ:KLAC) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,751 shares of the semiconductor company’s stock after selling 655 shares during the period. KLA accounts for about 1.0% of Atlantic Union Bankshares Corp’s investment portfolio, making the stock its 21st biggest position. Atlantic Union Bankshares Corp’s holdings in KLA were worth $16,844,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC increased its holdings in KLA by 32,828.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,419,000 shares of the semiconductor company’s stock valued at $2,647,708,000 after purchasing an additional 3,408,617 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of KLA by 76,452.4% in the third quarter. International Assets Investment Management LLC now owns 302,382 shares of the semiconductor company’s stock valued at $234,168,000 after buying an additional 301,987 shares during the last quarter. Van ECK Associates Corp grew its holdings in KLA by 25.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock worth $1,083,684,000 after acquiring an additional 286,015 shares during the last quarter. Assenagon Asset Management S.A. increased its position in KLA by 6,188.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 239,404 shares of the semiconductor company’s stock valued at $185,397,000 after acquiring an additional 235,597 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of KLA by 2,205.8% in the second quarter. 1832 Asset Management L.P. now owns 201,592 shares of the semiconductor company’s stock worth $166,215,000 after acquiring an additional 192,849 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Cantor Fitzgerald restated a “neutral” rating and set a $925.00 target price on shares of KLA in a research report on Tuesday, October 8th. Citigroup cut their price objective on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. TD Cowen lowered their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Finally, Wells Fargo & Company cut their target price on KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $815.55.

KLA Trading Up 0.1 %

KLA stock opened at $632.14 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. The firm has a 50-day moving average of $701.57 and a 200-day moving average of $758.08. The company has a market cap of $84.56 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.33 and a beta of 1.29. KLA Co. has a one year low of $527.11 and a one year high of $896.32.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the company earned $5.74 earnings per share. The business’s revenue was up 18.5% compared to the same quarter last year. On average, equities analysts expect that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be given a dividend of $1.70 per share. This is a positive change from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, November 18th. KLA’s dividend payout ratio is 31.05%.

About KLA

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.