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KLA (KLAC) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, KLA (KLAC - Free Report) closed at $484.06, marking a -1.29% move from the previous day. This move lagged the S&P 500's daily gain of 0.71%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq gained 4.62%.
Heading into today, shares of the maker of equipment for manufacturing semiconductors had gained 5.48% over the past month, outpacing the Computer and Technology sector's gain of 2.78% and the S&P 500's gain of 2.65% in that time.
KLA will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. On that day, KLA is projected to report earnings of $4.82 per share, which would represent a year-over-year decline of 17.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.25 billion, down 9.63% from the year-ago period.
Investors should also note any recent changes to analyst estimates for KLA. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection remained stagnant. KLA is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, KLA currently has a Forward P/E ratio of 24.61. Its industry sports an average Forward P/E of 20.86, so we one might conclude that KLA is trading at a premium comparatively.
It is also worth noting that KLAC currently has a PEG ratio of 3.71. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. KLAC's industry had an average PEG ratio of 2.08 as of yesterday's close.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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KLA (KLAC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, KLA (KLAC - Free Report) closed at $484.06, marking a -1.29% move from the previous day. This move lagged the S&P 500's daily gain of 0.71%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq gained 4.62%.
Heading into today, shares of the maker of equipment for manufacturing semiconductors had gained 5.48% over the past month, outpacing the Computer and Technology sector's gain of 2.78% and the S&P 500's gain of 2.65% in that time.
KLA will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. On that day, KLA is projected to report earnings of $4.82 per share, which would represent a year-over-year decline of 17.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.25 billion, down 9.63% from the year-ago period.
Investors should also note any recent changes to analyst estimates for KLA. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection remained stagnant. KLA is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, KLA currently has a Forward P/E ratio of 24.61. Its industry sports an average Forward P/E of 20.86, so we one might conclude that KLA is trading at a premium comparatively.
It is also worth noting that KLAC currently has a PEG ratio of 3.71. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. KLAC's industry had an average PEG ratio of 2.08 as of yesterday's close.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.