Burney Co. Decreases Holdings in KLA Co. (NASDAQ:KLAC)

Burney Co. lowered its stake in shares of KLA Co. (NASDAQ:KLAC) by 51.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,237 shares of the semiconductor company’s stock after selling 10,685 shares during the quarter. Burney Co.’s holdings in KLA were worth $6,451,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC raised 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 acquiring an additional 13 shares during the period. Marcum Wealth LLC raised its position in KLA by 4.1% in the 3rd quarter. Marcum Wealth LLC now owns 384 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 15 shares during the period. Harbor Capital Advisors Inc. lifted its stake in KLA by 1.1% in the third quarter. Harbor Capital Advisors Inc. now owns 1,433 shares of the semiconductor company’s stock worth $1,110,000 after purchasing an additional 16 shares during the last quarter. Ascent Wealth Partners LLC boosted its position in shares of KLA by 0.4% during the third quarter. Ascent Wealth Partners LLC now owns 4,466 shares of the semiconductor company’s stock valued at $3,459,000 after buying an additional 16 shares during the period. Finally, Citizens Financial Group Inc. RI grew its stake in shares of KLA by 2.8% during the third quarter. Citizens Financial Group Inc. RI now owns 582 shares of the semiconductor company’s stock valued at $451,000 after buying an additional 16 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

KLA Price Performance

Shares of NASDAQ KLAC opened at $721.04 on Wednesday. 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 fifty-two week low of $552.85 and a fifty-two week high of $896.32. The company has a market cap of $96.45 billion, a PE ratio of 32.92, a P/E/G ratio of 1.39 and a beta of 1.27. The business has a 50-day simple moving average of $651.44 and a two-hundred day simple moving average of $726.56.

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 company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the business posted $5.74 EPS. As a group, equities analysts expect that KLA Co. will post 30.61 EPS for the current fiscal year.

KLA Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KLAC. Deutsche Bank Aktiengesellschaft reduced their target price on KLA from $890.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. TD Cowen decreased their price target on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Oppenheimer raised KLA from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $750.00 to $850.00 in a research note on Thursday, October 31st. Morgan Stanley decreased their target price on KLA from $746.00 to $703.00 and set an “equal weight” rating for the company in a research report on Thursday, December 5th. Finally, Barclays dropped their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $809.10.

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.