KLA Co. (NASDAQ:KLAC) Stock Position Reduced by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its holdings in KLA Co. (NASDAQ:KLAC - Free Report) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,767 shares of the semiconductor company's stock after selling 2,236 shares during the period. Handelsbanken Fonder AB's holdings in KLA were worth $42,669,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Catalyst Financial Partners LLC grew its position in shares of KLA by 2.0% in the fourth quarter. Catalyst Financial Partners LLC now owns 755 shares of the semiconductor company's stock valued at $476,000 after purchasing an additional 15 shares during the period. Anchor Investment Management LLC grew its position in shares of KLA by 12.0% in the fourth quarter. Anchor Investment Management LLC now owns 140 shares of the semiconductor company's stock valued at $88,000 after purchasing an additional 15 shares during the period. TFB Advisors LLC grew its position in shares of KLA by 3.4% in the fourth quarter. TFB Advisors LLC now owns 489 shares of the semiconductor company's stock valued at $308,000 after purchasing an additional 16 shares during the period. Leavell Investment Management Inc. grew its position in shares of KLA by 3.1% in the fourth quarter. Leavell Investment Management Inc. now owns 537 shares of the semiconductor company's stock valued at $338,000 after purchasing an additional 16 shares during the period. Finally, Avantax Planning Partners Inc. grew its position in shares of KLA by 2.9% in the fourth quarter. Avantax Planning Partners Inc. now owns 570 shares of the semiconductor company's stock valued at $359,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.

KLA Stock Up 0.3%

Shares of KLAC traded up $3.00 during midday trading on Thursday, reaching $875.00. 1,090,567 shares of the company were exchanged, compared to its average volume of 1,108,694. The stock has a 50-day moving average price of $729.17 and a 200-day moving average price of $706.53. The company has a market cap of $115.71 billion, a price-to-earnings ratio of 36.80, a P/E/G ratio of 1.57 and a beta of 1.40. KLA Co. has a 1-year low of $551.33 and a 1-year high of $896.32. The company has a current ratio of 2.36, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64.

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

KLA declared that its board has approved a share 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 buy 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were paid a $1.90 dividend. This is a boost from KLA's previous quarterly dividend of $1.70. The ex-dividend date was Monday, May 19th. This represents a $7.60 annualized dividend and a dividend yield of 0.87%. KLA's payout ratio is 27.63%.

Insider Buying and Selling

In related news, CFO Bren D. Higgins sold 1,019 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $766.46, for a total value of $781,022.74. Following the transaction, the chief financial officer now owns 27,779 shares in the company, valued at approximately $21,291,492.34. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard P. Wallace sold 10,802 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $683.30, for a total value of $7,381,006.60. Following the completion of the transaction, the chief executive officer now owns 78,740 shares in the company, valued at approximately $53,803,042. This trade represents a 12.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,829 shares of company stock worth $13,240,166. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $830.00 price objective on shares of KLA in a research report on Thursday, May 1st. TD Securities boosted their price target on KLA from $770.00 to $800.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. lowered their price target on KLA from $950.00 to $900.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and set a $800.00 price target on shares of KLA in a research report on Thursday, May 1st. Finally, Jefferies Financial Group reissued a "hold" rating and set a $725.00 price target (down previously from $875.00) on shares of KLA in a research report on Friday, March 28th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, KLA currently has an average rating of "Moderate Buy" and a consensus price target 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.