BNC Wealth Management LLC Grows Stock Position in KLA Co. (NASDAQ:KLAC)

BNC Wealth Management LLC boosted its position in KLA Co. (NASDAQ:KLAC) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,461 shares of the semiconductor company’s stock after buying an additional 290 shares during the period. KLA makes up about 2.1% of BNC Wealth Management LLC’s holdings, making the stock its 13th biggest position. BNC Wealth Management LLC’s holdings in KLA were worth $5,778,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

KLAC has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 price target on shares of KLA in a report on Tuesday, October 8th. Citigroup decreased their target price on KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Barclays dropped their price target on KLA from $800.00 to $750.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Finally, TD Cowen lowered their price objective on shares of KLA from $760.00 to $725.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Eight equities 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, KLA presently has a consensus rating of “Moderate Buy” and a consensus target price of $802.90.

KLA Price Performance

KLA stock opened at $669.66 on Thursday. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $89.57 billion, a P/E ratio of 30.58, a PEG ratio of 1.40 and a beta of 1.29. The firm has a fifty day moving average of $735.90 and a 200-day moving average of $763.89. KLA Co. has a 52-week low of $498.57 and a 52-week high of $896.32.

KLA (NASDAQ:KLAC) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.03 by $0.30. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. KLA had a return on equity of 105.16% and a net margin of 28.92%. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.74 EPS. As a group, analysts predict that KLA Co. will post 30.91 EPS for the current year.

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.