Alecta Tjanstepension Omsesidigt lifted its holdings in shares of KLA Corporation (NASDAQ:KLAC - Free Report) by 9.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 465,300 shares of the semiconductor company's stock after purchasing an additional 42,000 shares during the quarter. KLA comprises about 1.8% of Alecta Tjanstepension Omsesidigt's investment portfolio, making the stock its 16th biggest position. Alecta Tjanstepension Omsesidigt owned about 0.35% of KLA worth $316,078,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of KLA in the fourth quarter valued at $1,175,756,000. GAMMA Investing LLC grew its position in KLA by 95,141.6% in the first quarter. GAMMA Investing LLC now owns 1,674,347 shares of the semiconductor company's stock valued at $1,138,221,000 after purchasing an additional 1,672,589 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in KLA by 33.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,191,262 shares of the semiconductor company's stock valued at $750,638,000 after purchasing an additional 300,015 shares during the period. Capital Research Global Investors acquired a new position in KLA during the 4th quarter worth approximately $187,212,000. Finally, Pictet Asset Management Holding SA increased its position in KLA by 25.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,455,161 shares of the semiconductor company's stock valued at $916,926,000 after acquiring an additional 292,907 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.
KLA Trading Down 2.1%
KLAC stock traded down $19.70 during mid-day trading on Tuesday, reaching $918.07. The company had a trading volume of 283,492 shares, compared to its average volume of 1,131,184. KLA Corporation has a 12 month low of $551.33 and a 12 month high of $945.87. The firm has a 50 day moving average of $850.60 and a 200 day moving average of $754.52. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.54 and a quick ratio of 1.74. The company has a market capitalization of $121.40 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42.
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, beating analysts' consensus estimates of $8.08 by $0.33. The firm had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.01 billion. KLA had a net margin of 31.99% and a return on equity of 112.97%. The firm's revenue was up 35.5% on a year-over-year basis. During the same period in the prior year, the company earned $5.26 EPS. On average, equities analysts predict that KLA Corporation will post 31.59 earnings per share for the current fiscal year.
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 a positive change 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 0.83%. KLA's payout ratio is 27.63%.
KLA declared that its Board of Directors has authorized a stock repurchase program on Wednesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.
Analyst Ratings Changes
A number of research firms have commented on KLAC. Jefferies Financial Group reissued a "hold" rating and issued a $725.00 price target (down previously from $875.00) on shares of KLA in a research note on Friday, March 28th. Oppenheimer increased their price target on shares of KLA from $740.00 to $950.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 17th. The Goldman Sachs Group started coverage on shares of KLA in a report on Thursday, July 10th. They set a "neutral" rating and a $980.00 price target on the stock. Morgan Stanley raised their target price on shares of KLA from $868.00 to $916.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, TD Securities lifted their price objective on shares of KLA from $770.00 to $800.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $852.56.
Check Out Our Latest Stock Analysis on KLA
Insider Activity
In other KLA news, CEO Richard P. Wallace sold 10,802 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 78,740 shares in the company, valued at approximately $53,803,042. This represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bren D. Higgins sold 1,019 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $766.46, for a total value of $781,022.74. Following the transaction, the chief financial officer owned 27,779 shares in the company, valued at $21,291,492.34. This trade represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,860 shares of company stock worth $8,196,798. 0.12% of the stock is currently owned by company insiders.
About KLA
(
Free Report)
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.
Further Reading
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