KeyBanc maintained its KLA [KLAC] rating to the equivalent of Overweight but changed the price target to $293 from $266, in a research note dated 2021-01-06. That figure represents around a 10.24% premium from where the company’s shares closed on Tuesday. Other analysts also revised their coverage, with Cowen’s analysts reiterating the shares to “a Market perform” rating in a research note to investors issued in early August. Meanwhile, Cowen had lowered its rating on KLAC to “Market perform” from the earlier “an Outperform”, in a research note produced for clients July 09, 2020. In addition, there was a downgrade from Stifel on June 22, 2020. The rater changed KLAC from “a Buy” to “a Hold”.
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Is KLA Corporation [NASDAQ:KLAC] a Good Buy Right Now?
It should be noted that KLAC technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the past month. Data from KLA Corporation’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.92 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.92 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.06 million shares.
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KLAC Price Performance
On Wall Street, KLA Corporation [NASDAQ:KLAC] finished Tuesday’s session up 2.10% at $265.79. The stock went up to $266.3199 at the same session while its lowest single day price was $258.96. In the last five days, it saw a rise of about 3.19%, KLA Corporation shares gained by almost 2.66% since the beginning of the year. However, the share price has dropped to as low as -1.66% below its one year high. On 01/04/21, the company shares recorded $270.28, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $257.70. The company’s shares have inclined by 51.84% in the past year. The 50-day SMA achieved is $242.74 while the 200-day SMA is $199.17. Volume dropped to 1.07 million from 1.25 million in the previous session.
KLA Corporation [KLAC] Valuation Measures
Notably, KLA Corporation [KLAC] stock can be classified as a good candidate in the listing of underestimated low-priced Semiconductor Equipment & Materials companies to purchase soonest possible with the prevailing 12-month PE ratio of 32.34. The measure means the stock is exchanging at a discount as compared to the 32.75x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 6.95 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.64 which means KLAC serve an attractive investment opportunity compared to its competitors.
KLAC Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 261.06 level, and in case of violation of this particular level, it will cause more drop to 256.33 level. On the upper level, 271.05 is still the key resistance. The stock may increase to the subsequent resistance at 268.42. The Relative Strength Index (RSI) pinned on the 14-day chart is 63.39, implying a neutral technical stance while the MACD stands at 2.34, meaning price will increase in the next trading period. Percent R indicator moved to 24.59%, implying bullish price movement. Stochastic %K at 58.29% suggest selling the stock.
What is the short interest in KLA Corporation?
Short interest in the KLA Corporation stock has surged, increasing by 0.61 million shares to total 2.78 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 3.39 million, data from Yahoo Finance shows. The decrease of -21.94% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 2.04% of the overall float for the stock.
KLA Corporation’s Biggest Shareholders: Who Owns KLA Corporation [KLAC]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 18,424,157 shares or roughly 11.88% of the outstanding KLAC shares. This means their shares have reduced by -271,708 from the 18,424,157 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, PRIMECAP Management Co. updated stake is worth $2,425,586,433. Details in the latest 13F filings reveal that Capital Research & Management Co acquired their 5.18% stake valued at $2,305,605,374 while BlackRock Fund Advisors added theirs at $2,259,966,552. During the last quarter, Capital Research & Management Co raised 451,014 of its shares in KLA Corporation while BlackRock Fund Advisors bought 18,474 shares. The Wellington Management Co. LLP’s holdings currently number 7,126,702 shares at $1894206124.58. According to the firm’s last 13F report, SSgA Funds Management, Inc. shares in the company at filing stood at 6,607,871 shares, roughly $1,664,985,256.
KLAC Earnings Forecast For The Current Quarter
KLA Corporation [KLAC] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.59B and an earnings per share of $3.17 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.58B at an EPS of $3.02 for Mar 2021. The estimates represent upside of 4.60% and 5.48% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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KLAC Earnings Estimates For The Current Year
For the financial year, KLA Corporation [NASDAQ:KLAC] is expected to bring in revenue of $6.31B. The returns are nearly $500.0 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for 2021, the estimate put it at 12.26, higher than that of FY20 by $1.91. Estimates put this year’s earnings growth at 18.50%, 5.50% for the next, and at an annual 11.87% over the next 5-year period. As for sales, forecasts are for an increase of 8.70% in the current fiscal year and a further 4.60% over the following year.
