I doubt if i am saying anything you do not already know, but KLIC has a very lw float as a result of insider & institutional holders that comprise 85% of all shares that are not part of the float. As we know this creates the exceptional volitivity that we see with KLIC that allows traders to get in and out & back in again several times per year making a buck on every prudent trade. I would call it a great swing trade stock.
As a bit of a caution, however, one of these times it will make another irreversible run as it did a few years ago that created an upside of over 835% as of today. Its numerous healthy valuations can make that another reality at the blink of an eye. The Fool & Street are making extremely strong buy recommendations too at this point and the big upward wave may be fairly close......
FIrst - even when institutional was significantly less the same moves would happen on no news (going back 15+ years).
Second - this is when I'm usually totally out of the stock - when the fundamental analysis folks arrive. KLIC IS a CYCLICAL. Like I've also stated I have 10% of the shares I had under 2.00 after starting to buy last cycle at 8. I've been selling (and writing calls) this while rise.
That said as I've stated here they are in the best financial and product shape I have ever seen them in.
Just hope they don't squander the cash - most likely with Bruno wanting to put his stamp on the company. So far so good. Leave them alone about the cash. Let it build is much better than most of the alternatives.
So I'm kinda set either way. And play these swings by buying or selling common or calls. I never short but when I'm writing calls that's as close as it gets. Like I did last week or week before?
We're kinda in nomans land with the market and KLIC. Perhaps ER in a few weeks will cause KLIC to move on it's own.