KLA Co. (NASDAQ:KLAC) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lessened its holdings in KLA Co. (NASDAQ:KLAC) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,406 shares of the semiconductor company’s stock after selling 1,216 shares during the quarter. KLA comprises approximately 1.2% of Atlantic Union Bankshares Corp’s investment portfolio, making the stock its 19th largest holding. Atlantic Union Bankshares Corp’s holdings in KLA were worth $18,474,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Personalized Indexing Management LLC boosted its stake in shares of KLA by 13.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 9,480 shares of the semiconductor company’s stock worth $5,511,000 after buying an additional 1,096 shares during the last quarter. Intact Investment Management Inc. increased its holdings in shares of KLA by 7.4% during the 4th quarter. Intact Investment Management Inc. now owns 1,450 shares of the semiconductor company’s stock valued at $843,000 after purchasing an additional 100 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of KLA during the 4th quarter valued at approximately $4,559,000. Meritage Portfolio Management lifted its stake in shares of KLA by 6.8% in the 4th quarter. Meritage Portfolio Management now owns 26,626 shares of the semiconductor company’s stock valued at $15,478,000 after purchasing an additional 1,692 shares during the period. Finally, Principal Securities Inc. purchased a new stake in KLA during the fourth quarter worth $811,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Barclays raised their price objective on KLA from $765.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Citigroup reduced their target price on KLA from $990.00 to $960.00 and set a “buy” rating for the company in a research note on Monday, August 5th. The Goldman Sachs Group lifted their price target on shares of KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Evercore ISI upped their price objective on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $805.29.

KLA Trading Up 2.4 %

NASDAQ:KLAC traded up $19.32 during trading hours on Friday, hitting $817.84. The company had a trading volume of 685,795 shares, compared to its average volume of 929,858. KLA Co. has a 1 year low of $440.15 and a 1 year high of $896.32. The company has a market cap of $110.11 billion, a P/E ratio of 42.84, a P/E/G ratio of 1.50 and a beta of 1.27. The company has a 50-day moving average of $806.90 and a 200 day moving average of $741.06. The company has a current ratio of 2.15, a quick ratio of 1.50 and a debt-to-equity ratio of 1.75.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.15 by $0.45. KLA had a net margin of 28.15% and a return on equity of 103.50%. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the firm posted $5.40 earnings per share. KLA’s quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that KLA Co. will post 29.09 earnings per share for the current year.

KLA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Thursday, August 15th. KLA’s dividend payout ratio is presently 30.38%.

Insider Buying and Selling

In other KLA news, CAO Virendra A. Kirloskar sold 825 shares of KLA stock in a transaction on Monday, August 5th. The stock was sold at an average price of $649.84, for a total value of $536,118.00. Following the sale, the chief accounting officer now owns 4,231 shares in the company, valued at $2,749,473.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other KLA news, CEO Richard P. Wallace sold 17,437 shares of KLA stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares in the company, valued at $74,257,998.29. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Virendra A. Kirloskar sold 825 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $649.84, for a total transaction of $536,118.00. Following the completion of the transaction, the chief accounting officer now owns 4,231 shares in the company, valued at $2,749,473.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,917 shares of company stock worth $14,568,247. Company insiders own 0.12% of the company’s stock.

KLA Profile

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.