Carmel Capital Management L.L.C. Has $8.20 Million Holdings in KLA Co. (NASDAQ:KLAC)

Carmel Capital Management L.L.C. trimmed its holdings in KLA Co. (NASDAQ:KLAC) by 23.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,005 shares of the semiconductor company’s stock after selling 4,010 shares during the period. KLA accounts for 3.1% of Carmel Capital Management L.L.C.’s holdings, making the stock its 15th largest position. Carmel Capital Management L.L.C.’s holdings in KLA were worth $8,195,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of KLA in the 3rd quarter valued at $29,000. Capital Performance Advisors LLP acquired a new position in shares of KLA during the 3rd quarter worth $38,000. FSA Wealth Management LLC acquired a new stake in KLA in the third quarter valued at about $53,000. Peterson Financial Group Inc. bought a new position in shares of KLA in the third quarter worth about $56,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of KLA during the 3rd quarter valued at approximately $58,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

KLAC has been the subject of several analyst reports. TD Cowen lowered their target price on KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $750.00 to $850.00 in a research note on Thursday, October 31st. StockNews.com lowered shares of KLA from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Finally, Needham & Company LLC raised KLA from a “hold” rating to a “buy” rating and set a $750.00 price objective for the company in a research report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $806.35.

KLA Price Performance

KLAC opened at $760.95 on Friday. The firm’s fifty day moving average price is $661.42 and its two-hundred day moving average price is $723.50. The company has a market capitalization of $101.78 billion, a price-to-earnings ratio of 34.75, a P/E/G ratio of 1.66 and a beta of 1.27. 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 Co. has a 1 year low of $581.70 and a 1 year high of $896.32.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the company earned $5.74 earnings per share. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, analysts anticipate that KLA Co. will post 30.34 earnings per share for the current fiscal year.

KLA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th were given a $1.70 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.80 annualized dividend and a yield of 0.89%. This is a boost from KLA’s previous quarterly dividend of $1.45. KLA’s payout ratio is currently 31.05%.

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.