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KLA (KLAC) Gains But Lags Market: What You Should Know
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In the latest trading session, KLA (KLAC - Free Report) closed at $420.04, marking a +0.23% move from the previous day. The stock lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 1.1%.
Prior to today's trading, shares of the maker of equipment for manufacturing semiconductors had gained 8.92% over the past month. This has outpaced the Computer and Technology sector's loss of 0.9% and the S&P 500's loss of 0.01% in that time.
Wall Street will be looking for positivity from KLA as it approaches its next earnings report date. This is expected to be January 26, 2023. In that report, analysts expect KLA to post earnings of $7 per share. This would mark year-over-year growth of 25.22%. Our most recent consensus estimate is calling for quarterly revenue of $2.8 billion, up 18.98% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.54 per share and revenue of $10.21 billion, which would represent changes of +16.03% and +10.81%, respectively, from the prior year.
Any recent changes to analyst estimates for KLA should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.45% higher. KLA is currently a Zacks Rank #3 (Hold).
Digging into valuation, KLA currently has a Forward P/E ratio of 17.08. This represents a no noticeable deviation compared to its industry's average Forward P/E of 17.08.
We can also see that KLAC currently has a PEG ratio of 3.23. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Electronics - Miscellaneous Products stocks are, on average, holding a PEG ratio of 2.16 based on yesterday's closing prices.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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) Gains But Lags Market: What You Should Know
In the latest trading session, KLA (KLAC - Free Report) closed at $420.04, marking a +0.23% move from the previous day. The stock lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 1.1%.
Prior to today's trading, shares of the maker of equipment for manufacturing semiconductors had gained 8.92% over the past month. This has outpaced the Computer and Technology sector's loss of 0.9% and the S&P 500's loss of 0.01% in that time.
Wall Street will be looking for positivity from KLA as it approaches its next earnings report date. This is expected to be January 26, 2023. In that report, analysts expect KLA to post earnings of $7 per share. This would mark year-over-year growth of 25.22%. Our most recent consensus estimate is calling for quarterly revenue of $2.8 billion, up 18.98% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.54 per share and revenue of $10.21 billion, which would represent changes of +16.03% and +10.81%, respectively, from the prior year.
Any recent changes to analyst estimates for KLA should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.45% higher. KLA is currently a Zacks Rank #3 (Hold).
Digging into valuation, KLA currently has a Forward P/E ratio of 17.08. This represents a no noticeable deviation compared to its industry's average Forward P/E of 17.08.
We can also see that KLAC currently has a PEG ratio of 3.23. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Electronics - Miscellaneous Products stocks are, on average, holding a PEG ratio of 2.16 based on yesterday's closing prices.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.