KLA (KLAC) closed at $664.63 in the latest trading session, marking a -0.81% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.92%. On the other hand, the Dow registered a loss of 0.96%, and the technology-centric Nasdaq decreased by 1.6%.

Prior to today's trading, shares of the maker of equipment for manufacturing semiconductors had lost 13.02% over the past month. This has lagged the Computer and Technology sector's gain of 3.64% and the S&P 500's gain of 2.68% in that time.

The upcoming earnings release of KLA will be of great interest to investors. The company's earnings report is expected on October 30, 2024. The company is predicted to post an EPS of $7.03, indicating a 22.47% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $2.76 billion, reflecting a 14.98% rise from the equivalent quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $29.07 per share and a revenue of $11.48 billion, representing changes of +22.45% and +16.99%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for KLA. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.08% lower. KLA is currently a Zacks Rank #4 (Sell).

With respect to valuation, KLA is currently being traded at a Forward P/E ratio of 23.05. This indicates a premium in contrast to its industry's Forward P/E of 17.97.

It's also important to note that KLAC currently trades at a PEG ratio of 1.69. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Electronics - Miscellaneous Products industry had an average PEG ratio of 1.92.