Vltava Fund, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. In its Q1 2022 investor letter, Vltava Fund talked about the impact of the Russian and Ukrainian economy’s collapse on the global economy and mentioned some changes in its portfolio. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Vltava Fund mentioned KLA Corporation (NASDAQ:KLAC) and explained its insights for the company. Founded in 1997, KLA Corporation (NASDAQ:KLAC) is a Milpitas, California-based semiconductor manufacturing company with a $49.7 billion market capitalization. KLA Corporation (NASDAQ:KLAC) delivered a -23.22% return since the beginning of the year, while its 12-month returns are down by -4.03%. The stock closed at $330.25 per share on April 12, 2022.
Here is what Vltava Fund has to say about KLA Corporation (NASDAQ:KLAC) in its Q1 2022 investor letter:
“We then used the money freed up to, among other things, open three new positions. The stock price declines during the Russian invasion brought a lot of good prices to the market. Out of all the possibilities we considered, we picked the stock of KLA Corporation (KLAC).
KLA Corporation develops leading-edge equipment and services that enable innovation throughout the electronics industry. It specialises in process management and control in semiconductor manufacturing and the related nanoelectronics industries. During manufacturing processes, products must be inspected for defects and correct critical dimensions in order to identify and eliminate possible sources of problems. As customers continue to enforce Moore’s Law, smaller chips must meet more precise specifications, which in turn increases the need for advanced inspection and diagnostic tools. This is a key step within the entire manufacturing process and one in which the company has built a very strong, and in places dominant, global position. We have been watching and waiting for an opportunity to acquire this stock for some time already, and this year’s drop in its price finally prompted us to buy.”
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Our calculations show that KLA Corporation (NASDAQ:KLAC) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. KLA Corporation (NASDAQ:KLAC) was in 49 hedge fund portfolios at the end of the first quarter of 2022, compared to 44 funds in the previous quarter. KLA Corporation (NASDAQ:KLAC) delivered a -22.41% return in the past 3 months. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
