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- 1 KLA Corporation (NASDAQ: KLAC ) added $17.23 to its trading prices in the July 21 trading session.
- 2 KLAC stock prices surged 1.22% and 22.36% in the monthly and yearly time frame simultaneously.
KLA Corporation (NASDAQ: KLAC) added $17.23 to its trading prices on July 21 trading session; it opened trading at $456.92, lowering to $453.51. It hit a high of $462.11 and closed trading at $458.56 with the intraday trading volume 2.16 Million.
KLAC stock prices surged 1.22% and 22.36% in the monthly and yearly time frame simultaneously. The annual price target of the stock is $472.65, which is 3.07% greater than the current trading prices.
Starting from May 24 2023, KLAC stock changed its gears and reflected a solid bullish movement, and since June 9, it has been moving in a sideward direction, consolidating in a range of $447.29 and $494.30.
At press time trading prices, the immediate resistance is $494.30, and if buyers succeed in overruling sellers in coming sessions, prices might cross the range of $500. Similarly, if sellers successfully overruled buyers, prices might fall to $447.29.
Technical Analysis:
The sudden increase in the trading volume in the last trading session indicates that big investors might have injected huge capital into KLA Corporation or that a group of investors heavily purchased KLAC stock.
In the 52 weeks trading session, KLAC stock lowest traded at $250.20, and its highest price was $493.53. KLA Corp market capitalization is $62.914 Billion, and the average trading volume is 1.137 Million.
As per data from Tradingview, 136.896 Million KLAC shares are free floating and the remaining 303.347k shares are closely held by the company’s financial backers or the board of directors.
KLA Corporation Earnings & Revenue
In Q1 2023, KLA generated 4.86% more revenue than estimated figures; in Q2 and Q3, it generated 5.91% and 2.45% more than estimated revenue. Market watchers believe that in Q4, the company might report $2.26 Billion in revenue.
Artificial Intelligence based technology is being rapidly adopted and the increased usage boosted the production of semiconductors. All semiconductor stocks are trading fairly.
Since Q1 2023, KLA Corp. has constantly reported positive earnings per share (EPS), and the estimated EPS for Q4 is $4.86. From the revenue generated in Q3, the company’s net income was $697.84 Million, and its profit margin was 28.70%.
In the financial year 2022, revenue to profit conversion of the company constitutes 60% of gross profit, 44% of earnings before interest, taxes, depreciation, and amortization (EBITDA), 40% of earnings before interest and taxes (EBIT) and 36% net income.
Most of KLA Corporation’s income is generated from businesses like semiconductor process control, printed circuit board display, component inspection, and speciality semiconductor process.
The company majorly serves customers in China, Taiwan, South Korea, United States, Japan, Europe, Israel and several regions of the Asia Pacific.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
