Cadence Bank Has $741,000 Holdings in KLA Co. (NASDAQ:KLAC)

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

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

KLA Stock Up 0.1 %

Shares of NASDAQ:KLAC opened at $632.14 on Thursday. The firm has a fifty day moving average price of $704.38 and a two-hundred day moving average price of $758.96. The company has a market cap of $84.56 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.36 and a beta of 1.29. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48. 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 data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the company earned $5.74 earnings per share. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. Analysts anticipate that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Monday, November 18th will be paid a $1.70 dividend. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Monday, November 18th. KLA’s dividend payout ratio (DPR) is currently 31.05%.

Wall Street Analyst Weigh In

KLAC has been the subject of a number of research analyst reports. TD Cowen decreased their price target on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their target price on KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Barclays cut their price target on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.