KLA-Tencor Corporation (KLAC) saw a big move last session, as the company’s shares fell by over 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for KLAC, as the stock is now down 11.7% since April 3.
This slump shouldn’t be too much of a surprise to investors, as KLA-Tencor has seen no negative revision in the past few weeks but its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
KLAC currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same sector include Advanced Energy Industries, Inc. (AEIS), Applied Materials, Inc. (AMAT) and Lam Research Corporation (LRCX). While Advanced Energy Industries carries a Zacks Rank #1 (Strong Buy), Applied Materials and Lam Research Corporation hold a Zacks Rank #2 (Buy).
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