Could KLA-Tencor Corporation (KLAC) Recover After Forming a Head & Shoulders Chart Pattern?

July 14, 2018 - By Brian Ramirez

KLA-Tencor Corporation (NASDAQ:KLAC) Logo

Investors sentiment decreased to 1.16 in 2018 Q1. Its down 0.33, from 1.49 in 2017Q4. It worsened, as 42 investors sold KLA-Tencor Corporation shares while 170 reduced holdings. 81 funds opened positions while 165 raised stakes. 137.77 million shares or 0.25% less from 138.11 million shares in 2017Q4 were reported.
Point72 Asset Mngmt L P accumulated 60,000 shares. Riverhead Capital Mgmt Ltd Llc reported 0.31% stake. 39,840 are held by Jacobs Levy Equity Mngmt. Glenmede Tru Na stated it has 251,212 shares or 0.11% of all its holdings. Voya Mgmt Ltd Llc invested in 0.02% or 105,160 shares. The Massachusetts-based Geode Cap Mngmt Ltd Liability has invested 0.08% in KLA-Tencor Corporation (NASDAQ:KLAC). Dnb Asset Mgmt As invested in 18,900 shares. Renaissance Technology Ltd Liability owns 99,200 shares. Farmers & Merchants Invests invested in 51 shares. Commerzbank Aktiengesellschaft Fi holds 0.02% or 13,574 shares in its portfolio. Old Mutual Glob Investors (Uk) Ltd owns 526,100 shares. Omers Administration Corporation reported 49,900 shares. Nj State Employees Deferred Compensation Plan holds 15,000 shares. Jfs Wealth Advisors Ltd Co invested 0.08% in KLA-Tencor Corporation (NASDAQ:KLAC). Dynamic Capital Mgmt Limited holds 0.52% or 1,919 shares in its portfolio.

Since January 18, 2018, it had 1 buying transaction, and 13 insider sales for $3.05 million activity. $32,714 worth of KLA-Tencor Corporation (NASDAQ:KLAC) was bought by RANGO ROBERT A. on Wednesday, February 14. $213,000 worth of KLA-Tencor Corporation (NASDAQ:KLAC) was sold by Higashi Emiko. Bell Bobby R also sold $462,977 worth of KLA-Tencor Corporation (NASDAQ:KLAC) on Thursday, February 1. On Tuesday, July 3 Kirloskar Virendra A sold $24,407 worth of KLA-Tencor Corporation (NASDAQ:KLAC) or 235 shares. Trafas Brian M. sold 1,120 shares worth $123,245. 854 KLA-Tencor Corporation (NASDAQ:KLAC) shares with value of $96,434 were sold by Higgins Bren D..

The stock of KLA-Tencor Corporation (KLAC) formed H&S with $99.62 target or 5.00 % below today’s $104.86 share price. The 6 months Head & Shoulders indicates high risk for the $16.32B company. It was reported on Jul, 14 by Faxor.com. If the $99.62 price target is reached, the company will be worth $815.85M less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock increased 0.30% or $0.31 during the last trading session, reaching $104.86. About 505,238 shares traded. KLA-Tencor Corporation (NASDAQ:KLAC) has risen 9.03% since July 14, 2017 and is uptrending. It has underperformed by 3.54% the S&P500.

Analysts await KLA-Tencor Corporation (NASDAQ:KLAC) to report earnings on July, 26. They expect $2.14 earnings per share, up 30.49 % or $0.50 from last year’s $1.64 per share. KLAC’s profit will be $333.00 million for 12.25 P/E if the $2.14 EPS becomes a reality. After $2.02 actual earnings per share reported by KLA-Tencor Corporation for the previous quarter, Wall Street now forecasts 5.94 % EPS growth.

KLA-Tencor Corporation (NASDAQ:KLAC) Ratings Coverage

Among 11 analysts covering Kla-Tencor Corp (NASDAQ:KLAC), 8 have Buy rating, 0 Sell and 3 Hold. Therefore 73% are positive. Kla-Tencor Corp has $152 highest and $112 lowest target. $134.91’s average target is 28.66% above currents $104.86 stock price. Kla-Tencor Corp had 19 analyst reports since January 22, 2018 according to SRatingsIntel. The rating was upgraded by Citigroup on Thursday, February 15 to “Buy”. The firm has “Hold” rating by Susquehanna given on Friday, April 27. Citigroup maintained it with “Neutral” rating and $112 target in Tuesday, January 30 report. The rating was upgraded by Susquehanna to “Neutral” on Thursday, February 22. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, January 24. Stifel Nicolaus maintained it with “Buy” rating and $143 target in Friday, April 27 report. The rating was maintained by Credit Suisse with “Buy” on Monday, January 29. On Thursday, January 25 the stock rating was maintained by KeyBanc Capital Markets with “Buy”. Needham maintained KLA-Tencor Corporation (NASDAQ:KLAC) rating on Friday, January 26. Needham has “Buy” rating and $135.0 target. The stock has “Overweight” rating by KeyBanc Capital Markets on Friday, April 27.

More news for KLA-Tencor Corporation (NASDAQ:KLAC) were recently published by: 247Wallst.com, which released: “4 Semiconductor Capital Equipment Stocks On Sale as SemiCon West Underway” on July 12, 2018. Nasdaq.com‘s article titled: “This Small-Cap Semiconductor Stock Now Offers a Solid Dividend” and published on June 27, 2018 is yet another important article.

KLA-Tencor Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nano-electronics industries worldwide. The company has market cap of $16.32 billion. It offers chip manufacturing products, such as front-end defect inspection tools, defect review systems, advanced packaging process control systems, metrology solutions, in-situ process monitoring products, and lithography software; wafer manufacturing products comprising wafer manufacturing products comprising surface and defect inspection, wafer geometry and nanotopography metrology, and data management; and reticle manufacturing products, such as defect inspection and pattern placement metrology products. It has a 23.3 P/E ratio. The firm also provides light emitting diode , power device, and compound semiconductor manufacturing products consisting of patterned wafer inspection, defect inspection, surface metrology, and data management products; thin-film head metrology and inspection, virtual lithography, in-situ process monitoring, transparent and metal substrate inspection, and data management products for data storage media/head manufacturing; and stylus and optical profiling, and optical inspection products for microelectromechanical systems manufacturing, as well as products for general purpose/lab applications.

KLA-Tencor Corporation (NASDAQ:KLAC) Institutional Positions Chart

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