Trustmark National Bank Trust Department Sells 38 Shares of KLA Co. (NASDAQ:KLAC)

Trustmark National Bank Trust Department trimmed its holdings in shares of KLA Co. (NASDAQ:KLAC) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 585 shares of the semiconductor company’s stock after selling 38 shares during the quarter. Trustmark National Bank Trust Department’s holdings in KLA were worth $453,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KLAC. Family Firm Inc. bought a new stake in KLA during the second quarter valued at approximately $30,000. Capital Performance Advisors LLP bought a new position in shares of KLA in the third quarter worth approximately $38,000. 1620 Investment Advisors Inc. bought a new position in shares of KLA in the second quarter worth approximately $44,000. LRI Investments LLC bought a new position in shares of KLA in the first quarter worth approximately $45,000. Finally, Olistico Wealth LLC bought a new position in shares of KLA in the second quarter worth approximately $53,000. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on KLAC shares. UBS Group dropped their price target on shares of KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Evercore ISI upped their target price 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. Needham & Company LLC restated a “hold” rating on shares of KLA in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of KLA from $800.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Argus upped their target price on shares of KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $802.90.

KLA Price Performance

KLA stock opened at $631.22 on Friday. The business has a 50 day simple moving average of $712.59 and a 200-day simple moving average of $760.85. The stock has a market capitalization of $84.43 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 1.30 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 12 month low of $527.11 and a 12 month high of $896.32.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, beating analysts’ consensus estimates of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business had revenue of $2.84 billion for 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 business’s revenue for the quarter was up 18.5% compared to the same quarter last year. Equities analysts predict that KLA Co. will post 30.91 earnings per share for the current 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 issued a dividend of $1.70 per share. This is an increase from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, November 18th. KLA’s dividend payout ratio (DPR) 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.