In the latest trading session, KLA (KLAC Quick QuoteKLAC – Free Report) closed at $582.65, marking a +0.38% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.17% for the day. Meanwhile, the Dow experienced a drop of 0.05%, and the technology-dominated Nasdaq saw an increase of 0.2%.Coming into today, shares of the maker of equipment for manufacturing semiconductors had gained 4.74% in the past month. In that same time, the Computer and Technology sector gained 4.37%, while the S&P 500 gained 4.71%.The investment community will be paying close attention to the earnings performance of KLA in its upcoming release. In that report, analysts expect KLA to post earnings of $5.87 per share. This would mark a year-over-year decline of 20.46%. Our most recent consensus estimate is calling for quarterly revenue of $2.46 billion, down 17.72% from the year-ago period.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $23.34 per share and a revenue of $9.72 billion, representing changes of -8% and -7.42%, respectively, from the prior year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for KLA. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% increase. Right now, KLA possesses a Zacks Rank of #2 (Buy).Looking at its valuation, KLA is holding a Forward P/E ratio of 24.87. This signifies a premium in comparison to the average Forward P/E of 18.47 for its industry.Investors should also note that KLAC has a PEG ratio of 3.66 right now. 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. The Electronics – Miscellaneous Products industry had an average PEG ratio of 2.29 as trading concluded yesterday.The Electronics – Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.More By This Author:3 Beaten-Down ETFs To Buy For A Turnaround In 2024Bear Of The Day: Cisco Systems This Semiconductor Stock Is Mounting An Epic Comeback With New Tech
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