Campbell Newman Asset Management Inc. Sells 4,129 Shares of KLA Co. (NASDAQ:KLAC)

Campbell Newman Asset Management Inc. reduced its holdings in KLA Co. (NASDAQ:KLAC) by 6.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 64,129 shares of the semiconductor company’s stock after selling 4,129 shares during the quarter. KLA makes up 3.3% of Campbell Newman Asset Management Inc.’s portfolio, making the stock its 7th biggest position. Campbell Newman Asset Management Inc.’s holdings in KLA were worth $40,409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Legacy Investment Solutions LLC bought a new position in shares of KLA during the third quarter worth about $29,000. Groupama Asset Managment boosted its stake in KLA by 82.3% during the 3rd quarter. Groupama Asset Managment now owns 4,515 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 2,038 shares during the period. Capital Performance Advisors LLP bought a new position in KLA in the 3rd quarter worth about $38,000. FSA Wealth Management LLC acquired a new stake in shares of KLA in the third quarter valued at approximately $53,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of KLA during the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

KLAC has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on KLA from $800.00 to $795.00 and set an “overweight” rating on the stock in a research report on Monday. TD Cowen lowered their price target on KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. The Goldman Sachs Group reduced their price objective on shares of KLA from $850.00 to $759.00 and set a “buy” rating for the company in a report on Friday, January 10th. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and raised their target price for the company from $750.00 to $850.00 in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $925.00 price target on shares of KLA in a research note on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, KLA presently has an average rating of “Moderate Buy” and an average price target of $809.10.

KLA Price Performance

Shares of NASDAQ:KLAC opened at $721.04 on Wednesday. The company has a market cap of $96.45 billion, a P/E ratio of 32.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.27. KLA Co. has a 12-month low of $552.85 and a 12-month high of $896.32. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The company’s fifty day moving average is $651.44 and its two-hundred day moving average is $726.56.

KLA (NASDAQ:KLAC) last posted its quarterly 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. KLA had a net margin of 28.92% and a return on equity of 105.16%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the firm earned $5.74 earnings per share. The firm’s revenue was up 18.5% compared to the same quarter last year. Equities analysts expect that KLA Co. will post 30.61 earnings per share for the current fiscal year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were issued a dividend of $1.70 per share. This is a boost from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Monday, November 18th. KLA’s payout ratio is currently 31.05%.

About KLA

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.