Miracle Mile Advisors LLC Takes $238,000 Position in KLA Co. (NASDAQ:KLAC)

Miracle Mile Advisors LLC acquired a new position in KLA Co. (NASDAQ:KLAC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 341 shares of the semiconductor company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Diversified Trust Co raised its stake in shares of KLA by 4.7% in the 1st quarter. Diversified Trust Co now owns 3,996 shares of the semiconductor company’s stock worth $2,791,000 after buying an additional 179 shares in the last quarter. Aviance Capital Partners LLC bought a new stake in KLA in the first quarter worth about $2,480,000. LVW Advisors LLC bought a new position in shares of KLA during the 1st quarter valued at about $360,000. Koss Olinger Consulting LLC acquired a new position in shares of KLA in the 1st quarter worth approximately $4,788,000. Finally, Trilogy Capital Inc. bought a new stake in shares of KLA in the 1st quarter worth approximately $569,000. Institutional investors own 86.65% of the company’s stock.

Insider Activity at KLA

In other KLA news, CEO Richard P. Wallace sold 14,009 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the sale, the chief executive officer now owns 93,142 shares of the company’s stock, valued at $66,748,351.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other KLA news, CEO Richard P. Wallace sold 14,009 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $716.63, for a total transaction of $10,039,269.67. Following the completion of the transaction, the chief executive officer now owns 93,142 shares of the company’s stock, valued at approximately $66,748,351.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ahmad A. Khan sold 7,833 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $760.00, for a total value of $5,953,080.00. Following the completion of the sale, the insider now directly owns 32,105 shares in the company, valued at $24,399,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,861 shares of company stock valued at $16,795,913. Corporate insiders own 0.12% of the company’s stock.

KLA Price Performance

Shares of KLAC opened at $839.11 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.46 and a current ratio of 2.14. The firm has a market cap of $112.98 billion, a PE ratio of 43.96, a PEG ratio of 3.94 and a beta of 1.27. KLA Co. has a twelve month low of $440.15 and a twelve month high of $876.55. The firm’s 50 day moving average price is $767.02 and its 200 day moving average price is $685.50.

KLA (NASDAQ:KLAC) last released its quarterly earnings data on Thursday, April 25th. The semiconductor company reported $5.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.32. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. KLA’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.49 EPS. As a group, research analysts expect that KLA Co. will post 23.3 EPS for the current fiscal year.

KLA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Tuesday, May 14th. KLA’s dividend payout ratio is 30.38%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KLAC. Wells Fargo & Company raised their target price on shares of KLA from $860.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Jefferies Financial Group started coverage on KLA in a research report on Monday, May 13th. They set a “buy” rating and a $820.00 target price on the stock. Evercore ISI began coverage on KLA in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $800.00 price target for the company. Raymond James boosted their price objective on KLA from $750.00 to $875.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Finally, UBS Group raised their target price on shares of KLA from $605.00 to $760.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $747.40.

KLA Company 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.