KLA Co. (NASDAQ:KLAC) Position Trimmed by Campbell Newman Asset Management Inc.

Campbell Newman Asset Management Inc. reduced its stake in shares of KLA Co. (NASDAQ:KLAC - Free Report) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,101 shares of the semiconductor company's stock after selling 1,028 shares during the quarter. KLA comprises about 3.6% of Campbell Newman Asset Management Inc.'s investment portfolio, making the stock its 8th biggest position. Campbell Newman Asset Management Inc.'s holdings in KLA were worth $42,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in KLAC. Catalyst Financial Partners LLC grew its stake in shares of KLA by 2.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 755 shares of the semiconductor company's stock valued at $476,000 after buying an additional 15 shares during the last quarter. Anchor Investment Management LLC grew its stake in shares of KLA by 12.0% during the fourth quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company's stock valued at $88,000 after buying an additional 15 shares during the last quarter. Leavell Investment Management Inc. grew its stake in shares of KLA by 3.1% during the fourth quarter. Leavell Investment Management Inc. now owns 537 shares of the semiconductor company's stock valued at $338,000 after buying an additional 16 shares during the last quarter. Avantax Planning Partners Inc. grew its stake in shares of KLA by 2.9% during the fourth quarter. Avantax Planning Partners Inc. now owns 570 shares of the semiconductor company's stock valued at $359,000 after buying an additional 16 shares during the last quarter. Finally, Sunflower Bank N.A. grew its stake in shares of KLA by 4.7% during the first quarter. Sunflower Bank N.A. now owns 381 shares of the semiconductor company's stock valued at $259,000 after buying an additional 17 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

KLA Stock Performance

Shares of NASDAQ KLAC traded down $7.33 during mid-day trading on Friday, hitting $867.67. The stock had a trading volume of 1,832,159 shares, compared to its average volume of 1,116,404. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 2.36. The company has a 50 day moving average of $734.54 and a two-hundred day moving average of $708.69. KLA Co. has a twelve month low of $551.33 and a twelve month high of $896.32. The firm has a market cap of $114.74 billion, a PE ratio of 36.49, a PEG ratio of 1.57 and a beta of 1.40.

KLA (NASDAQ:KLAC - Get Free Report) last released its earnings results on Wednesday, April 30th. The semiconductor company reported $8.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.08 by $0.33. KLA had a return on equity of 108.60% and a net margin of 29.58%. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the firm earned $5.26 EPS. The firm's revenue was up 35.5% on a year-over-year basis. Research analysts predict that KLA Co. will post 31.59 EPS for the current fiscal year.

KLA announced that its board has initiated a stock repurchase program on Wednesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given a dividend of $1.90 per share. This is an increase from KLA's previous quarterly dividend of $1.70. This represents a $7.60 annualized dividend and a yield of 0.88%. The ex-dividend date was Monday, May 19th. KLA's dividend payout ratio (DPR) is currently 27.63%.

Insiders Place Their Bets

In other news, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $683.30, for a total transaction of $7,381,006.60. Following the sale, the chief executive officer now directly owns 78,740 shares of the company's stock, valued at $53,803,042. This represents a 12.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the chief financial officer now directly owns 28,798 shares in the company, valued at approximately $20,867,606.76. The trade was a 19.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,829 shares of company stock valued at $13,240,166. Company insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KLAC. Deutsche Bank Aktiengesellschaft lowered KLA from a "buy" rating to a "hold" rating and set a $790.00 price target for the company. in a report on Tuesday, May 20th. TD Securities boosted their price target on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Cowen reiterated a "hold" rating on shares of KLA in a report on Thursday, May 1st. JPMorgan Chase & Co. lowered their target price on KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Stifel Nicolaus upped their target price on KLA from $750.00 to $770.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $795.39.

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.