Zurcher Kantonalbank Zurich Cantonalbank Has $25.34 Million Stake in KLA Co. (NASDAQ:KLAC)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in KLA Co. (NASDAQ:KLAC - Free Report) by 47.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,735 shares of the semiconductor company's stock after selling 27,810 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in KLA were worth $25,341,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Ameritas Advisory Services LLC lifted its holdings in shares of KLA by 1.2% in the second quarter. Ameritas Advisory Services LLC now owns 1,280 shares of the semiconductor company's stock valued at $1,055,000 after purchasing an additional 15 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of KLA by 141.6% in the second quarter. Arkadios Wealth Advisors now owns 969 shares of the semiconductor company's stock valued at $799,000 after purchasing an additional 568 shares in the last quarter. Burney Co. lifted its holdings in shares of KLA by 109.0% in the second quarter. Burney Co. now owns 8,707 shares of the semiconductor company's stock valued at $7,179,000 after purchasing an additional 4,540 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of KLA by 0.8% in the second quarter. Whittier Trust Co. now owns 1,921 shares of the semiconductor company's stock valued at $1,584,000 after purchasing an additional 16 shares in the last quarter. Finally, Nixon Peabody Trust Co. bought a new stake in shares of KLA in the second quarter valued at about $557,000. 86.65% of the stock is currently owned by institutional investors.

KLA Price Performance

NASDAQ:KLAC traded down $8.52 during trading hours on Thursday, reaching $795.75. 806,167 shares of the company were exchanged, compared to its average volume of 925,074. The business has a 50 day moving average of $803.04 and a 200 day moving average of $746.15. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50. KLA Co. has a 1-year low of $440.15 and a 1-year high of $896.32. The company has a market capitalization of $107.14 billion, a P/E ratio of 41.68, a P/E/G ratio of 1.50 and a beta of 1.27.

KLA (NASDAQ:KLAC - Get Free Report) last released its earnings results on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, topping the consensus estimate of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The firm had revenue of $2.57 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the prior year, the company earned $5.40 earnings per share. The company's quarterly revenue was up 9.1% on a year-over-year basis. Research analysts forecast that KLA Co. will post 29.09 EPS for the current year.

KLA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Thursday, August 15th. KLA's payout ratio is 30.38%.

Insider Activity

In related news, EVP Brian Lorig sold 44 shares of the firm's stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the transaction, the executive vice president now directly owns 14,211 shares of the company's stock, valued at approximately $11,644,493.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Richard P. Wallace sold 17,437 shares of the firm's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the transaction, the chief executive officer now directly owns 105,329 shares of the company's stock, valued at approximately $74,257,998.29. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brian Lorig sold 44 shares of the firm's stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $819.40, for a total value of $36,053.60. Following the transaction, the executive vice president now directly owns 14,211 shares of the company's stock, valued at $11,644,493.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,917 shares of company stock worth $14,568,247. Insiders own 0.12% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KLAC. Jefferies Financial Group began coverage on KLA in a report on Monday, May 13th. They set a "buy" rating and a $820.00 target price on the stock. Evercore ISI upped their target price on KLA from $800.00 to $900.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Susquehanna dropped their target price on KLA from $730.00 to $680.00 and set a "neutral" rating on the stock in a report on Thursday, July 25th. Cantor Fitzgerald reiterated a "neutral" rating and set a $950.00 target price on shares of KLA in a report on Thursday, July 25th. Finally, Stifel Nicolaus upped their target price on KLA from $760.00 to $875.00 and gave the stock a "buy" rating in a report on Tuesday, July 16th. Nine 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 an average rating of "Moderate Buy" and a consensus target price of $805.29.

KLA Company 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.

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