What’s Next for KLA-Tencor Corporation (KLAC) After Forming Bearish H&S Chart Pattern?

July 14, 2018 - By Jason Grubb

KLA-Tencor Corporation (NASDAQ:KLAC) Logo

Investors sentiment decreased to 1.16 in Q1 2018. Its down 0.33, from 1.49 in 2017Q4. It dropped, 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.
Fort Washington Invest Advisors Oh reported 30,754 shares. Ubs Asset Management Americas reported 0% of its portfolio in KLA-Tencor Corporation (NASDAQ:KLAC). 5,434 are held by Creative Planning. The Georgia-based Synovus Financial Corporation has invested 0% in KLA-Tencor Corporation (NASDAQ:KLAC). Geode Capital Management, a Massachusetts-based fund reported 2.21 million shares. Spark Inv Mngmt Lc invested in 0.16% or 23,100 shares. Voya Investment Management Ltd Liability owns 105,160 shares. Hartford Inv Management Co holds 0.08% or 35,775 shares. Public Sector Pension Inv Board, a Quebec – Canada-based fund reported 20,933 shares. Northwestern Mutual Wealth Mngmt Com invested 0% in KLA-Tencor Corporation (NASDAQ:KLAC). Gulf Int Natl Bank (Uk) owns 49,734 shares. Stephens Incorporated Ar owns 10,020 shares. San Francisco Sentry Inv Group Inc (Ca) stated it has 20 shares. 4,815 were accumulated by Acadian Asset Management Limited Liability Co. Symphony Asset Mngmt Limited Co reported 14,154 shares.

Since January 18, 2018, it had 1 buy, and 13 sales for $3.05 million activity. Trafas Brian M. sold $5,235 worth of KLA-Tencor Corporation (NASDAQ:KLAC) on Tuesday, January 30. Shares for $96,434 were sold by Higgins Bren D. on Thursday, March 1. Khan Ahmad A. also sold $296,637 worth of KLA-Tencor Corporation (NASDAQ:KLAC) on Friday, February 9. Another trade for 235 shares valued at $24,407 was made by Lorig Brian on Tuesday, July 3. Bell Bobby R sold $462,977 worth of stock. Kirloskar Virendra A had sold 235 shares worth $24,407.

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 EPS, up 30.49 % or $0.50 from last year’s $1.64 per share. KLAC’s profit will be $333.00M for 12.25 P/E if the $2.14 EPS becomes a reality. After $2.02 actual EPS 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 firm has “Buy” rating by Stifel Nicolaus given on Friday, April 27. Citigroup upgraded the stock to “Buy” rating in Thursday, February 15 report. Citigroup maintained KLA-Tencor Corporation (NASDAQ:KLAC) rating on Monday, April 30. Citigroup has “Buy” rating and $127 target. The stock of KLA-Tencor Corporation (NASDAQ:KLAC) has “Buy” rating given on Wednesday, January 24 by Stifel Nicolaus. The firm has “Buy” rating by Credit Suisse given on Monday, January 29. The rating was maintained by Credit Suisse with “Outperform” on Friday, April 27. The firm has “Buy” rating given on Thursday, January 25 by KeyBanc Capital Markets. KeyBanc Capital Markets maintained the stock with “Overweight” rating in Friday, April 27 report. The rating was downgraded by Needham to “Hold” on Friday, June 22. Needham maintained it with “Buy” rating and $135.0 target in Friday, January 26 report.

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