Montecito Bank & Trust Acquires 561 Shares of KLA Co. (NASDAQ:KLAC)

Montecito Bank & Trust raised its stake in shares of KLA Co. (NASDAQ:KLAC) by 45.5% in the 3rd quarter, Holdings Channel reports. The firm owned 1,793 shares of the semiconductor company’s stock after purchasing an additional 561 shares during the quarter. Montecito Bank & Trust’s holdings in KLA were worth $1,389,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cedar Wealth Management LLC raised its position in shares of KLA by 77.3% during the first quarter. Cedar Wealth Management LLC now owns 39 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 17 shares during the last quarter. Family Firm Inc. acquired a new stake in KLA during the 2nd quarter valued at approximately $30,000. 1620 Investment Advisors Inc. bought a new position in KLA during the 2nd quarter worth approximately $44,000. LRI Investments LLC bought a new position in KLA during the 1st quarter worth approximately $45,000. Finally, Olistico Wealth LLC acquired a new position in shares of KLA in the 2nd quarter worth approximately $53,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KLAC shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of KLA from $890.00 to $750.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. StockNews.com raised KLA from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. UBS Group decreased their target price on KLA from $900.00 to $765.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Oppenheimer upgraded KLA from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $750.00 to $850.00 in a report on Thursday, October 31st. Finally, Evercore ISI raised their price objective on shares of KLA from $800.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Stock Performance

Shares of KLAC stock opened at $669.66 on Thursday. KLA Co. has a one year low of $498.57 and a one year high of $896.32. The company has a market cap of $89.57 billion, a P/E ratio of 30.58, a P/E/G ratio of 1.40 and a beta of 1.29. The firm has a 50-day moving average of $735.90 and a 200-day moving average of $763.89. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.13 and a quick ratio of 1.48.

KLA (NASDAQ:KLAC) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 EPS for the quarter, topping the consensus estimate of $7.03 by $0.30. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm earned $5.74 EPS. Equities research analysts forecast that KLA Co. will post 30.91 EPS for the current fiscal year.

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.