Huntington National Bank Boosts Stock Position in KLA Co. (NASDAQ:KLAC)

Huntington National Bank boosted its stake in shares of KLA Co. (NASDAQ:KLAC) by 0.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,599 shares of the semiconductor company’s stock after purchasing an additional 133 shares during the period. Huntington National Bank’s holdings in KLA were worth $12,350,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of KLA in the 4th quarter worth about $1,175,756,000. Parnassus Investments LLC grew its position in KLA by 381.3% during the 4th quarter. Parnassus Investments LLC now owns 733,328 shares of the semiconductor company’s stock valued at $462,085,000 after purchasing an additional 580,967 shares during the last quarter. Proficio Capital Partners LLC increased its stake in KLA by 114,444.5% during the 4th quarter. Proficio Capital Partners LLC now owns 342,488 shares of the semiconductor company’s stock valued at $215,809,000 after purchasing an additional 342,189 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in KLA by 25.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,455,161 shares of the semiconductor company’s stock worth $916,926,000 after buying an additional 292,907 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of KLA by 10,766.7% in the third quarter. Two Sigma Advisers LP now owns 228,200 shares of the semiconductor company’s stock worth $176,720,000 after buying an additional 226,100 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling at KLA

In related news, CFO Bren D. Higgins sold 7,008 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $724.62, for a total transaction of $5,078,136.96. Following the completion of the sale, the chief financial officer now owns 28,798 shares in the company, valued at approximately $20,867,606.76. This trade represents a 19.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.12% of the company’s stock.

KLA Stock Up 0.5 %

NASDAQ KLAC opened at $686.19 on Thursday. KLA Co. has a 52 week low of $609.40 and a 52 week high of $896.32. The company has a quick ratio of 1.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $91.19 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.57 and a beta of 1.30. The stock’s 50-day moving average price is $722.87 and its 200-day moving average price is $701.74.

KLA (NASDAQ:KLAC) last released its earnings results on Thursday, January 30th. The semiconductor company reported $8.20 EPS for the quarter, topping analysts’ consensus estimates of $7.73 by $0.47. KLA had a net margin of 29.58% and a return on equity of 108.60%. On average, equities research analysts predict that KLA Co. will post 31.59 earnings per share for the current year.

KLA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $6.80 dividend on an annualized basis and a yield of 0.99%. KLA’s payout ratio is presently 28.60%.

Analyst Ratings Changes

KLAC has been the subject of several analyst reports. Susquehanna raised their price target on shares of KLA from $620.00 to $655.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Cantor Fitzgerald lifted their target price on KLA from $800.00 to $875.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Stifel Nicolaus upped their price target on KLA from $800.00 to $825.00 and gave the company a “buy” rating in a report on Friday, January 31st. Wells Fargo & Company lifted their price objective on KLA from $795.00 to $870.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, UBS Group raised their price target on shares of KLA from $665.00 to $780.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, KLA presently has an average rating of “Moderate Buy” and a consensus price target of $832.17.

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.