Zions Bancorporation N.A. Sells 159 Shares of KLA Co. (NASDAQ:KLAC)

Zions Bancorporation N.A. trimmed its position in shares of KLA Co. (NASDAQ:KLAC) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,118 shares of the semiconductor company’s stock after selling 159 shares during the period. Zions Bancorporation N.A.’s holdings in KLA were worth $866,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Market Strategies LLC boosted its position in 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 buying an additional 13 shares during the period. CVA Family Office LLC increased its stake in shares of KLA by 3.7% during the 3rd quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock worth $283,000 after purchasing an additional 13 shares during the last quarter. HBW Advisory Services LLC lifted its stake in shares of KLA by 2.6% during the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after buying an additional 14 shares in the last quarter. TIAA Trust National Association grew its position 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 in the last quarter. Finally, AA Financial Advisors LLC raised its holdings in shares of KLA by 2.7% during the 2nd quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock valued at $467,000 after buying an additional 15 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on KLAC shares. Wells Fargo & Company cut their target price on shares of KLA from $950.00 to $870.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Argus boosted their price objective on shares of KLA from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Evercore ISI boosted their price target on KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $750.00 to $850.00 in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $802.90.

KLA Stock Performance

Shares of NASDAQ: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 one year low of $527.11 and a one year high of $896.32. The business’s 50-day simple moving average is $724.45 and its 200 day simple moving average is $764.10. The company has a market cap of $86.28 billion, a P/E ratio of 29.45, a PEG ratio of 1.36 and a beta of 1.29.

KLA (NASDAQ:KLAC) last issued its earnings results 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 analysts’ expectations of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. KLA’s revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the company posted $5.74 earnings per share. On average, sell-side analysts forecast that KLA Co. will post 30.91 earnings per share for the current fiscal year.

KLA Increases Dividend

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

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.