Burney Co. Trims Stock Position in KLA Co. (NASDAQ:KLAC)

Burney Co. decreased its position in KLA Co. (NASDAQ:KLAC - Free Report) by 51.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. boosted its position in KLA by 7.0% during the 2nd quarter. Federated Hermes Inc. now owns 7,455 shares of the semiconductor company's stock valued at $6,147,000 after buying an additional 488 shares during the period. Mesirow Financial Investment Management Inc. bought a new stake in shares of KLA in the second quarter worth about $794,000. Citizens Financial Group Inc. RI lifted its holdings 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 buying an additional 209 shares during the period. Edgestream Partners L.P. grew its position in shares of KLA by 422.5% in the 2nd quarter. Edgestream Partners L.P. now owns 8,313 shares of the semiconductor company's stock worth $6,854,000 after buying an additional 6,722 shares during the last quarter. Finally, Tower Wealth Partners Inc. purchased a new position in shares of KLA during the second quarter valued at approximately $240,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on KLAC. 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. Oppenheimer raised shares of KLA from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. Morgan Stanley cut their target price on shares of KLA from $746.00 to $703.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 5th. 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. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on KLA from $890.00 to $750.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $809.10.

KLA Trading Up 2.1 %

KLA stock traded up $14.99 during midday trading on Wednesday, hitting $716.25. 1,361,324 shares of the stock were exchanged, compared to its average volume of 1,195,648. The stock has a market capitalization of $95.81 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 1.39 and a beta of 1.27. The company has a current ratio of 2.13, a quick ratio of 1.48 and a debt-to-equity ratio of 1.65. The stock's 50-day simple moving average is $651.44 and its 200 day simple moving average is $726.56. KLA Co. has a fifty-two week low of $552.85 and a fifty-two week high of $896.32.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the business posted $5.74 earnings per share. The company's quarterly revenue was up 18.5% on a year-over-year basis. On average, equities analysts anticipate that KLA Co. will post 30.61 EPS 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 issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from KLA's previous quarterly dividend of $1.45. The ex-dividend date of this dividend was Monday, November 18th. KLA's dividend payout ratio (DPR) is presently 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.