Campbell Newman Asset Management Inc. Has $40.41 Million Holdings in KLA Co. (NASDAQ:KLAC)

Campbell Newman Asset Management Inc. lessened its holdings in KLA Co. (NASDAQ:KLAC) by 6.0% in the 4th quarter, Holdings Channel reports. The firm owned 64,129 shares of the semiconductor company’s stock after selling 4,129 shares during the quarter. KLA accounts for 3.3% of Campbell Newman Asset Management Inc.’s portfolio, making the stock its 7th biggest holding. Campbell Newman Asset Management Inc.’s holdings in KLA were worth $40,409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in KLAC. Federated Hermes Inc. boosted its position in shares of KLA by 7.0% in the second quarter. Federated Hermes Inc. now owns 7,455 shares of the semiconductor company’s stock valued at $6,147,000 after acquiring an additional 488 shares during the period. Mesirow Financial Investment Management Inc. bought a new stake in KLA in the 2nd quarter valued at $794,000. Citizens Financial Group Inc. RI grew its position in KLA by 58.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 566 shares of the semiconductor company’s stock worth $467,000 after purchasing an additional 209 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of KLA by 422.5% during the 2nd quarter. Edgestream Partners L.P. now owns 8,313 shares of the semiconductor company’s stock worth $6,854,000 after purchasing an additional 6,722 shares during the period. Finally, Tower Wealth Partners Inc. acquired a new stake in KLA during the second quarter worth about $240,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on KLAC. Morgan Stanley cut their price target on KLA from $746.00 to $703.00 and set an “equal weight” rating for the company in a report on Thursday, December 5th. Barclays lowered their price target on shares of KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Finally, The Goldman Sachs Group decreased their price objective on KLA from $850.00 to $759.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $809.10.

KLA Stock Up 2.8 %

Shares of NASDAQ:KLAC opened at $721.04 on Wednesday. The company has a 50 day moving average of $651.44 and a 200-day moving average of $726.56. The stock has a market cap of $96.45 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 1.39 and a beta of 1.27. KLA Co. has a one year low of $552.85 and a one year high of $896.32. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48.

KLA (NASDAQ:KLAC) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the business posted $5.74 EPS. The firm’s revenue was up 18.5% compared to the same quarter last year. On average, sell-side analysts forecast that KLA Co. will post 30.61 earnings per share for the current year.

KLA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th were given 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 was Monday, November 18th. KLA’s dividend payout ratio is currently 31.05%.

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.