Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Stock Holdings in KLA Corporation (NASDAQ:KLAC)

Key Points

• The Fourth Swedish National Pension Fund increased its stake in KLA Corporation by 9.9%, owning 30,102 shares valued at $20,463,000 as of its latest SEC filing.
• KLA Corporation reported a $9.38 earnings per share for the quarter, beating analyst estimates, and reported revenue growth of 23.6% year-over-year.
• The company announced a quarterly dividend of $1.90, reflecting an annual yield of 0.8%, with a dividend payout ratio of 25.01%.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 9.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,102 shares of the semiconductor company's stock after purchasing an additional 2,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in KLA were worth $20,463,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Neuberger Berman Group LLC raised its holdings in shares of KLA by 18.9% during the first quarter. Neuberger Berman Group LLC now owns 58,713 shares of the semiconductor company's stock valued at $39,937,000 after purchasing an additional 9,332 shares during the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of KLA by 4.7% during the first quarter. E Fund Management Co. Ltd. now owns 41,184 shares of the semiconductor company's stock valued at $27,997,000 after purchasing an additional 1,839 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of KLA by 1.6% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,043 shares of the semiconductor company's stock valued at $8,867,000 after purchasing an additional 204 shares during the last quarter. S Bank Fund Management Ltd purchased a new stake in KLA during the first quarter valued at approximately $980,000. Finally, National Pension Service increased its holdings in KLA by 4.8% during the first quarter. National Pension Service now owns 308,826 shares of the semiconductor company's stock valued at $209,940,000 after buying an additional 14,250 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

KLA Trading Up 1.5%

NASDAQ KLAC opened at $949.48 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.83 and a current ratio of 2.62. The company has a market capitalization of $125.29 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 3.19 and a beta of 1.44. The company's 50-day simple moving average is $897.91 and its two-hundred day simple moving average is $777.63. KLA Corporation has a one year low of $551.33 and a one year high of $952.35.

KLA (NASDAQ:KLAC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $9.38 earnings per share for the quarter, beating analysts' consensus estimates of $8.53 by $0.85. KLA had a net margin of 33.41% and a return on equity of 112.41%. The business had revenue of $3.17 billion for the quarter, compared to analysts' expectations of $3.08 billion. During the same period last year, the business earned $6.60 EPS. The company's revenue was up 23.6% compared to the same quarter last year. Equities analysts forecast that KLA Corporation will post 31.59 EPS for the current fiscal year.

KLA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be paid a $1.90 dividend. The ex-dividend date is Monday, August 18th. This represents a $7.60 dividend on an annualized basis and a yield of 0.8%. KLA's dividend payout ratio (DPR) is 25.01%.

KLA declared that its board has authorized a stock repurchase plan on Wednesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

KLAC has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of KLA from $900.00 to $1,070.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company reiterated an "equal weight" rating and issued a $920.00 price target (up from $870.00) on shares of KLA in a research report on Tuesday, July 8th. Oppenheimer upped their price target on shares of KLA from $740.00 to $950.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 17th. TD Securities upped their price target on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Finally, Cowen reiterated a "hold" rating on shares of KLA in a research report on Thursday, May 1st. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $890.59.

Insider Buying and Selling

In other KLA news, CFO Bren D. Higgins sold 1,019 shares of KLA stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total transaction of $781,022.74. Following the completion of the sale, the chief financial officer directly owned 27,779 shares in the company, valued at approximately $21,291,492.34. The trade was a 3.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Virendra A. Kirloskar sold 39 shares of KLA stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $891.50, for a total transaction of $34,768.50. Following the sale, the chief accounting officer owned 2,616 shares of the company's stock, valued at approximately $2,332,164. The trade was a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.