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

Atlantic Union Bankshares Corp cut its holdings in shares of KLA Co. (NASDAQ:KLAC) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,751 shares of the semiconductor company’s stock after selling 655 shares during the quarter. KLA comprises 1.0% of Atlantic Union Bankshares Corp’s portfolio, making the stock its 21st biggest holding. Atlantic Union Bankshares Corp’s holdings in KLA were worth $16,844,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Swedbank AB lifted its holdings in shares of KLA by 0.4% during the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock worth $426,660,000 after buying an additional 2,019 shares in the last quarter. Community Financial Services Group LLC increased its holdings in shares of KLA by 538.5% during the third quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock worth $5,765,000 after purchasing an additional 6,279 shares during the period. Eastern Bank raised its position in shares of KLA by 655.8% in the third quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock valued at $21,194,000 after buying an additional 23,747 shares in the last quarter. ING Groep NV grew its position in KLA by 52.4% during the third quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock worth $61,769,000 after buying an additional 27,436 shares in the last quarter. Finally, Generate Investment Management Ltd increased its stake in KLA by 39.0% during the 3rd quarter. Generate Investment Management Ltd now owns 5,882 shares of the semiconductor company’s stock worth $4,555,000 after acquiring an additional 1,651 shares during the period. Institutional investors own 86.65% of the company’s stock.

KLA Trading Up 0.1 %

NASDAQ:KLAC opened at $632.14 on Friday. KLA Co. has a 52 week low of $527.11 and a 52 week high of $896.32. The firm’s fifty day moving average is $701.57 and its 200-day moving average is $758.08. The firm has a market cap of $84.56 billion, a P/E ratio of 28.86, a P/E/G ratio of 1.33 and a beta of 1.29. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13.

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

KLA Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on KLAC shares. UBS Group reduced their target price on KLA from $900.00 to $765.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Susquehanna dropped their target price on shares of KLA from $680.00 to $675.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Wells Fargo & Company dropped their price objective on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, TD Cowen lowered their target price on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $815.55.

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.