Cadence Bank Sells 159 Shares of KLA Co. (NASDAQ:KLAC)

Cadence Bank lessened its holdings in KLA Co. (NASDAQ:KLAC) by 14.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 957 shares of the semiconductor company’s stock after selling 159 shares during the quarter. Cadence Bank’s holdings in KLA were worth $741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Swedbank AB boosted its stake in KLA by 0.4% in the third quarter. Swedbank AB now owns 550,949 shares of the semiconductor company’s stock valued at $426,660,000 after buying an additional 2,019 shares in the last quarter. Community Financial Services Group LLC lifted its holdings in shares of KLA by 538.5% in the third quarter. Community Financial Services Group LLC now owns 7,445 shares of the semiconductor company’s stock worth $5,765,000 after acquiring an additional 6,279 shares during the last quarter. Eastern Bank boosted its stake in shares of KLA by 655.8% in the 3rd quarter. Eastern Bank now owns 27,368 shares of the semiconductor company’s stock valued at $21,194,000 after purchasing an additional 23,747 shares in the last quarter. ING Groep NV grew its holdings in shares of KLA by 52.4% during the 3rd quarter. ING Groep NV now owns 79,763 shares of the semiconductor company’s stock valued at $61,769,000 after purchasing an additional 27,436 shares during the last quarter. Finally, Generate Investment Management Ltd increased its position 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 purchasing an additional 1,651 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

KLA Stock Up 0.1 %

Shares of NASDAQ KLAC opened at $632.14 on Thursday. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The firm has a market cap of $84.56 billion, a PE ratio of 28.86, a P/E/G ratio of 1.36 and a beta of 1.29. The company’s fifty day simple moving average is $704.38 and its 200 day simple moving average is $758.96. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the firm earned $5.74 EPS. The business’s revenue was up 18.5% on a year-over-year basis. As a group, sell-side analysts forecast that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a research report on Wednesday. Susquehanna cut their price objective on KLA from $680.00 to $675.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Wells Fargo & Company lowered their target price on KLA from $950.00 to $870.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, KLA currently has a consensus rating of “Moderate Buy” and an average price target of $815.55.

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.