Zurcher Kantonalbank Zurich Cantonalbank Purchases 49 Shares of KLA Co. (NASDAQ:KLAC)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in KLA Co. (NASDAQ:KLAC) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,784 shares of the semiconductor company’s stock after purchasing an additional 49 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in KLA were worth $23,839,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Family Firm Inc. bought a new stake in KLA in the 2nd quarter valued at $30,000. Capital Performance Advisors LLP bought a new stake in shares of KLA in the third quarter valued at about $38,000. 1620 Investment Advisors Inc. bought a new stake in shares of KLA in the second quarter valued at about $44,000. LRI Investments LLC bought a new position in KLA during the first quarter valued at about $45,000. Finally, Olistico Wealth LLC bought a new position in KLA during the second quarter valued at about $53,000. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. TD Cowen decreased their price objective on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. StockNews.com cut KLA from a “buy” rating to a “hold” rating in a research report on Wednesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $925.00 price target on shares of KLA in a report on Tuesday, October 8th. Citigroup reduced their price objective on shares of KLA from $960.00 to $900.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and upped their target price for the company from $750.00 to $850.00 in a research note 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $815.55.

KLA Stock Performance

Shares of NASDAQ:KLAC opened at $647.03 on Friday. The business has a fifty day moving average of $699.34 and a 200-day moving average of $757.61. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 2.13. KLA Co. has a twelve month low of $527.11 and a twelve month high of $896.32. The firm has a market cap of $86.55 billion, a PE ratio of 29.54, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29.

KLA (NASDAQ:KLAC) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.03 by $0.30. KLA had a net margin of 28.92% and a return on equity of 105.16%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the company posted $5.74 EPS. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, equities research analysts predict that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders 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 yield of 1.05%. KLA’s dividend payout ratio is currently 31.05%.

KLA Company 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.