Swedbank AB Boosts Stock Position in KLA Co. (NASDAQ:KLAC)

Swedbank AB grew its holdings in shares of KLA Co. (NASDAQ:KLAC) by 1.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 548,930 shares of the semiconductor company’s stock after buying an additional 5,423 shares during the period. Swedbank AB’s holdings in KLA were worth $452,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Frazier Financial Advisors LLC purchased a new stake in KLA during the fourth quarter worth approximately $26,000. Cedar Wealth Management LLC lifted its position in shares of KLA by 77.3% during the 1st quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after buying an additional 17 shares during the last quarter. DSM Capital Partners LLC acquired a new position in shares of KLA in the 4th quarter valued at $28,000. Addison Advisors LLC purchased a new position in shares of KLA in the 4th quarter valued at $29,000. Finally, Jones Financial Companies Lllp raised its stake in KLA by 2,033.3% during the 4th quarter. Jones Financial Companies Lllp now owns 64 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 61 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

KLA Stock Performance

NASDAQ KLAC traded down $16.62 on Friday, hitting $819.57. 673,395 shares of the company’s stock were exchanged, compared to its average volume of 934,722. The firm has a market cap of $110.35 billion, a price-to-earnings ratio of 43.80, a P/E/G ratio of 1.50 and a beta of 1.27. The firm’s 50-day moving average price is $805.89 and its two-hundred day moving average price is $732.12. KLA Co. has a fifty-two week low of $440.15 and a fifty-two week high of $896.32. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.50.

KLA (NASDAQ:KLAC) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $6.60 earnings per share for the quarter, topping analysts’ consensus estimates of $6.15 by $0.45. KLA had a return on equity of 103.50% and a net margin of 28.15%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the company posted $5.40 earnings per share. KLA’s quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts expect that KLA Co. will post 29.09 EPS for the current year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be paid a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, August 15th. KLA’s dividend payout ratio (DPR) is 30.38%.

Insider Buying and Selling

In related news, CEO Richard P. Wallace sold 17,437 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $705.01, for a total value of $12,293,259.37. Following the completion of the transaction, the chief executive officer now directly owns 105,329 shares of the company’s stock, valued at approximately $74,257,998.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other KLA news, EVP Brian Lorig sold 44 shares of KLA stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $819.40, for a total transaction of $36,053.60. Following the completion of the transaction, the executive vice president now owns 14,211 shares in the company, valued at $11,644,493.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard P. Wallace sold 17,437 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $705.01, for a total transaction of $12,293,259.37. Following the completion of the sale, the chief executive officer now directly owns 105,329 shares in the company, valued at approximately $74,257,998.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,769 shares of company stock valued at $21,324,890. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

KLAC has been the subject of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of KLA in a research note on Friday, April 26th. Barclays raised their price target on KLA from $765.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Jefferies Financial Group assumed coverage on KLA in a report on Monday, May 13th. They issued a “buy” rating and a $820.00 price objective for the company. Argus lifted their target price on shares of KLA from $800.00 to $875.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus upped their price target on shares of KLA from $760.00 to $875.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $805.29.

KLA Profile

KLA Corporation designs, manufactures, and markets 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, Display and Component Inspection.