Huntington National Bank Sells 392 Shares of KLA Co. (NASDAQ:KLAC)

Huntington National Bank lessened its stake in shares of KLA Co. (NASDAQ:KLAC) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,466 shares of the semiconductor company’s stock after selling 392 shares during the period. Huntington National Bank’s holdings in KLA were worth $15,075,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KLAC. Capital Market Strategies LLC increased its position in shares of KLA by 1.6% during the 2nd quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 13 shares during the last quarter. CVA Family Office LLC grew its stake in shares of KLA by 3.7% in the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 13 shares in the last quarter. HBW Advisory Services LLC increased its holdings in KLA by 2.6% during the second quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock worth $452,000 after buying an additional 14 shares during the last quarter. TIAA Trust National Association increased its holdings in KLA by 0.4% during the second quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock worth $2,679,000 after buying an additional 14 shares during the last quarter. Finally, AA Financial Advisors LLC raised its position in KLA by 2.7% during the second quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $467,000 after acquiring an additional 15 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Stock Performance

KLAC opened at $645.00 on Friday. 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 52-week low of $527.11 and a 52-week high of $896.32. The firm has a market cap of $86.28 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The business’s fifty day moving average is $724.45 and its 200-day moving average is $764.10.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the prior year, the company posted $5.74 earnings per share. Sell-side analysts expect that KLA Co. will post 30.91 EPS for the current fiscal year.

KLA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.70 per share. The ex-dividend date is Monday, November 18th. This is a boost from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a yield of 1.05%. KLA’s dividend payout ratio is presently 26.48%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Argus boosted their price objective on shares of KLA from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC reissued a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $750.00 to $850.00 in a research note on Thursday, October 31st. Evercore ISI lifted their target price on KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Citigroup decreased their target price on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a report on Monday, September 16th. 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $802.90.

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.