KLA Co. (NASDAQ:KLAC) Shares Purchased by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc grew its stake in shares of KLA Co. (NASDAQ:KLAC) by 0.9% in the third quarter, HoldingsChannel reports. The fund owned 13,671 shares of the semiconductor company’s stock after buying an additional 127 shares during the quarter. KLA makes up about 1.0% of Texas Capital Bank Wealth Management Services Inc’s portfolio, making the stock its 19th largest position. Texas Capital Bank Wealth Management Services Inc’s holdings in KLA were worth $10,587,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Mizuho Securities USA LLC boosted its position 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 worth $2,647,708,000 after buying an additional 3,408,617 shares during the period. International Assets Investment Management LLC lifted its position in shares of KLA by 76,452.4% during the third 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 boosted its stake in shares of KLA by 25.7% in the third quarter. Van ECK Associates Corp now owns 1,399,367 shares of the semiconductor company’s stock valued at $1,083,684,000 after purchasing an additional 286,015 shares during the period. Assenagon Asset Management S.A. grew its holdings in 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 valued at $185,397,000 after purchasing an additional 235,597 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in KLA by 2,205.8% during 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 period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. UBS Group lowered their target price on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Morgan Stanley cut their price target on shares of KLA from $746.00 to $703.00 and set an “equal weight” rating on the stock in a report on Thursday. Citigroup cut their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Needham & Company LLC reissued a “hold” rating on shares of KLA in a report on Thursday, October 31st. Finally, 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. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $815.80.

KLA Trading Down 3.5 %

Shares of KLAC opened at $642.61 on Friday. The business’s 50-day moving average price is $689.99 and its 200 day moving average price is $755.21. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $85.96 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.40 and a beta of 1.27. KLA Co. has a 1-year low of $527.44 and a 1-year high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.74 earnings per share. 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 was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were given a $1.70 dividend. 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 1.06%. The ex-dividend date was Monday, November 18th. KLA’s dividend payout ratio is presently 31.05%.

KLA 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.