KLA (KLAC) closed the latest trading day at $824.84, indicating a -0.63% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.04% for the day. Meanwhile, the Dow experienced a drop of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.12%.

Heading into today, shares of the maker of equipment for manufacturing semiconductors had gained 10.75% over the past month, outpacing the Computer and Technology sector's loss of 2.27% and the S&P 500's gain of 4.15% in that time.

Analysts and investors alike will be keeping a close eye on the performance of KLA in its upcoming earnings disclosure. On that day, KLA is projected to report earnings of $6.08 per share, which would represent year-over-year growth of 12.59%. Simultaneously, our latest consensus estimate expects the revenue to be $2.5 billion, showing a 6.34% escalation compared to the year-ago quarter.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $23.30 per share and a revenue of $9.75 billion, representing changes of -8.16% and -7.13%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for KLA. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, KLA holds a Zacks Rank of #3 (Hold).

Looking at its valuation, KLA is holding a Forward P/E ratio of 35.62. This signifies a premium in comparison to the average Forward P/E of 21.33 for its industry.

We can also see that KLAC currently has a PEG ratio of 3.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Electronics - Miscellaneous Products industry was having an average PEG ratio of 2.7.

The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 176, positioning it in the bottom 31% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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