KLA-Tencor Corporation (KLAC) has been under a strong bear grip, hence the stock is down -7.07% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 3.94% in the past 1 week. The stock has risen by 3.91% in the past week indicating that the buyers are active at lower levels, but the stock is down -6.72% in the past 4 weeks.
KLA-Tencor Corporation is up 2.72% in the last 3-month period. Year-to-Date the stock performance stands at 4.7%. The stock has recorded a 20-day Moving Average of 3.62% and the 50-Day Moving Average is 3.24%.
KLA-Tencor Corporation (NASDAQ:KLAC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $69.90 and $69.87 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $71.14. The buying momentum continued till the end and the stock did not give up its gains. It closed at $70.95, notching a gain of 1.75% for the day. The total traded volume was 1,636,694 . The stock had closed at $69.73 on the previous day.
Also, In a research note released to the investors, Citigroup maintains its rating on KLA-Tencor Corporation (NASDAQ:KLAC).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Citigroup raises the new price target from $74 per share to $78 per share. The rating by the firm was issued on July 29, 2016.
KLA-Tencor Corporation is a supplier of process control and yield management solutions for the semiconductor and related nanoelectronics industries. The Companys products are also used in various other industries, including the light emitting diode (LED) and data storage industries, as well as general materials research. KLA-Tencors products and services are used by bare wafer, integrated circuit (IC), lithography reticle and disk manufacturers around the world. These customers turn to the Company for inline wafer and IC defect monitoring, review and classification; reticle defect inspection and metrology; packaging and interconnect inspection; critical dimension (CD) metrology; pattern overlay metrology; film thickness, surface topography and composition measurements; measurement of in-chamber process conditions, wafer shape and stress metrology; computational lithography tools, and overall yield and fab-wide data management and analysis systems.