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KLA (KLAC) Surges 4.9%: Is This an Indication of Further Gains?
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KLA (KLAC - Free Report) shares ended the last trading session 4.9% higher at $604.62. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 19% loss over the past four weeks.
KLAC is benefiting from strong demand in leading-edge logic, high-bandwidth memory (HBM), and advanced packaging, which are driving growth in the semiconductor industry.
This maker of equipment for manufacturing semiconductors is expected to post quarterly earnings of $8.06 per share in its upcoming report, which represents a year-over-year change of +53.2%. Revenues are expected to be $3 billion, up 27.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For KLA, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on KLAC going forward to see if this recent jump can turn into more strength down the road.
KLA is a member of the Zacks Electronics - Miscellaneous Products industry. One other stock in the same industry, Kimball Electronics (KE - Free Report) , finished the last trading session 0.2% higher at $13.30. KE has returned -19.9% over the past month.
Kimball Electronics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.26. Compared to the company's year-ago EPS, this represents a change of -23.5%. Kimball Electronics currently boasts a Zacks Rank of #4 (Sell).
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KLA (KLAC) Surges 4.9%: Is This an Indication of Further Gains?
KLA (KLAC - Free Report) shares ended the last trading session 4.9% higher at $604.62. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 19% loss over the past four weeks.
KLAC is benefiting from strong demand in leading-edge logic, high-bandwidth memory (HBM), and advanced packaging, which are driving growth in the semiconductor industry.
This maker of equipment for manufacturing semiconductors is expected to post quarterly earnings of $8.06 per share in its upcoming report, which represents a year-over-year change of +53.2%. Revenues are expected to be $3 billion, up 27.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For KLA, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on KLAC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
KLA is a member of the Zacks Electronics - Miscellaneous Products industry. One other stock in the same industry, Kimball Electronics (KE - Free Report) , finished the last trading session 0.2% higher at $13.30. KE has returned -19.9% over the past month.
Kimball Electronics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.26. Compared to the company's year-ago EPS, this represents a change of -23.5%. Kimball Electronics currently boasts a Zacks Rank of #4 (Sell).