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KLA (KLAC) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest market close, KLA (KLAC - Free Report) reached $665.72, with a -0.05% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.05% for the day. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq added 0.4%.
The the stock of maker of equipment for manufacturing semiconductors has risen by 0.4% in the past month, lagging the Computer and Technology sector's gain of 4.59% and the S&P 500's gain of 5.75%.
The upcoming earnings release of KLA will be of great interest to investors. The company is forecasted to report an EPS of $7.83, showcasing a 27.11% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.96 billion, indicating a 18.85% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $30.91 per share and a revenue of $11.73 billion, signifying shifts of +30.2% and +19.55%, respectively, from the last year.
Any recent changes to analyst estimates for KLA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, KLA is carrying a Zacks Rank of #3 (Hold).
Investors should also note KLA's current valuation metrics, including its Forward P/E ratio of 21.55. For comparison, its industry has an average Forward P/E of 20.58, which means KLA is trading at a premium to the group.
One should further note that KLAC currently holds a PEG ratio of 1.4. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Electronics - Miscellaneous Products industry stood at 2.14 at the close of the market yesterday.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 126, putting it in the top 50% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KLAC in the coming trading sessions, be sure to utilize Zacks.com.
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KLA (KLAC) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest market close, KLA (KLAC - Free Report) reached $665.72, with a -0.05% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.05% for the day. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq added 0.4%.
The the stock of maker of equipment for manufacturing semiconductors has risen by 0.4% in the past month, lagging the Computer and Technology sector's gain of 4.59% and the S&P 500's gain of 5.75%.
The upcoming earnings release of KLA will be of great interest to investors. The company is forecasted to report an EPS of $7.83, showcasing a 27.11% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.96 billion, indicating a 18.85% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $30.91 per share and a revenue of $11.73 billion, signifying shifts of +30.2% and +19.55%, respectively, from the last year.
Any recent changes to analyst estimates for KLA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, KLA is carrying a Zacks Rank of #3 (Hold).
Investors should also note KLA's current valuation metrics, including its Forward P/E ratio of 21.55. For comparison, its industry has an average Forward P/E of 20.58, which means KLA is trading at a premium to the group.
One should further note that KLAC currently holds a PEG ratio of 1.4. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Electronics - Miscellaneous Products industry stood at 2.14 at the close of the market yesterday.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 126, putting it in the top 50% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KLAC in the coming trading sessions, be sure to utilize Zacks.com.