The biggest losers of the session on the Wall Street include KLA Corporation (NASDAQ:KLAC), which fell -7.64 points or -4.26% to trade at $171.76 as last check. The stock closed last session at $179.4 and sets an active trading volume day with a reported 453605 contracts so far this session. KLAC shares had a relatively better volume day versus average trading capacity of 1.25 million shares, but with a 0.16 billion float and a -0.83% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for KLAC stock indicates that the average analyst price target is $189.87 per share. This means the stock has a potential increase of 10.54% from where the KLAC share price has been trading recently.
During the recent trading session for KLA Corporation (NASDAQ:KLAC), the company witnessed their stock drop by $-6.93 over a week and tumble down $-6.95 from the price 20 days ago. When compared to their established 52-week high of $184.5, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/24/20. The recent low of $98.64 stood for a -6.9% since 01/28/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.64 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for KLA Corporation, the two-week RSI stands at 43.14. This figure suggests that KLAC stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current KLAC readings is similarly very revealing as it has a stochastic reading of 53.75% at this stage. This figure means that KLAC share price today is being neutral.
Technical chart claims that KLA Corporation (KLAC) would settle between $183.12/share to $186.85/share level. However, if the stock price goes below the $177.05 mark, then the market for KLA Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $174.71 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.72. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at UBS lowered their recommendation on shares of KLAC from Neutral to Sell in their opinion released on November 21. Nomura, analysts launched coverage of KLA Corporation (NASDAQ:KLAC) stock with a Buy recommendation, according to their flash note issued to investors on November 20. Analysts at Cowen are sticking to their Outperform stance. However, on October 31, they lifted price target for these shares to $195 from $170.
KLAC equity has an average rating of 2.56, with the figure leaning towards a bullish end. 14 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 9 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 9 analysts rated KLA Corporation (NASDAQ:KLAC) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, KLAC stock price is currently trading at 16.11X forward 12-month Consensus EPS estimates, and its P/E ratio is 25.2 while for the average stock in the same group, the multiple is 31.9. KLA Corporation current P/B ratio of 10.6 means it is trading at a premium against its industry’s 7.4.