Here's Why KLA (KLAC) Gained But Lagged the Market Today

In the latest market close, KLA (KLAC) reached $650.53, with a +0.39% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.1%. Elsewhere, the Dow gained 0.91%, while the tech-heavy Nasdaq added 1.35%.Shares of the maker of equipment for manufacturing semiconductors have appreciated by 0.51% over the course of the past month, underperforming the Computer and Technology sector's gain of 5.09% and outperforming the S&P 500's gain of 0.22%.Analysts and investors alike will be keeping a close eye on the performance of KLA in its upcoming earnings disclosure. On that day, KLA is projected to report earnings of $7.73 per share, which would represent year-over-year growth of 25.49%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.93 billion, indicating a 17.98% increase compared to the same quarter of the previous year.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $30.37 per share and revenue of $11.6 billion. These totals would mark changes of +27.93% and +18.19%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.72% lower. At present, KLA boasts a Zacks Rank of #3 (Hold).Valuation is also important, so investors should note that KLA has a Forward P/E ratio of 21.33 right now. This represents a premium compared to its industry's average Forward P/E of 19.59.We can also see that KLAC currently has a PEG ratio of 1.41. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Electronics - Miscellaneous Products was holding an average PEG ratio of 1.97 at yesterday's closing price.The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 39% of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report KLA Corporation (KLAC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks