Montecito Bank & Trust Has $1.39 Million Stock Holdings in KLA Co. (NASDAQ:KLAC)

Montecito Bank & Trust grew its stake in shares of KLA Co. (NASDAQ:KLAC) by 45.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 institutional investors and hedge funds also recently made changes to their positions in the company. Cedar Wealth Management LLC boosted its stake 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 acquiring an additional 17 shares during the period. Family Firm Inc. bought a new position in shares of KLA in the second quarter valued at about $30,000. 1620 Investment Advisors Inc. acquired a new stake in shares of KLA during the 2nd quarter worth about $44,000. LRI Investments LLC bought a new position in KLA in the 1st quarter valued at about $45,000. Finally, Olistico Wealth LLC acquired a new stake in KLA during the second quarter worth approximately $53,000. Institutional investors own 86.65% of the company’s stock.

KLA Stock Performance

Shares of KLA stock opened at $669.66 on Thursday. The company’s 50 day moving average price is $735.90 and its two-hundred day moving average price is $763.89. The firm has a market capitalization 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. KLA Co. has a fifty-two week low of $498.57 and a fifty-two week high of $896.32. 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 released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, beating the consensus estimate of $7.03 by $0.30. KLA had a return on equity of 105.16% and a net margin of 28.92%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the business posted $5.74 EPS. KLA’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, equities analysts forecast that KLA Co. will post 30.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on KLAC. The Goldman Sachs Group upped their target price on KLA from $735.00 to $838.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com upgraded KLA from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. TD Cowen reduced their target price on shares of KLA from $760.00 to $725.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of KLA from $800.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $802.90.

KLA Company Profile

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.