KLA-Tencor Setting-Up For Move Higher On Earnings
Steve Miller | Jul 31, 2018 11:24AM ET
KLA-Tencor (NASDAQ:KLAC) traded +14% higher on Tuesday morning, after posting earnings that beat Wall Street expectations. They specialize in providing semiconductor firms with process control and yield management systems.
KLAC reported earnings per share of $2.22 and total revenue of $1.07 billion, above analyst estimates of $2.13 and $1.05 billion. They also increased their guidance for the next quarter to earnings per share of $2.04-2.36 and revenue of $1.03-1.11 billion, compared to estimates of $2.06 and $1.04 billion.
“We delivered the second highest quarterly booking results in our history in the June quarter,” explained CEO Rick Wallace.
In analyzing KLAC’s market cycles, we can see that the stock is in the rising phase of its current minor cycle. We believe its long period of consolidation may be coming to an end. With plenty of time left in this intermediate cycle, the stock is setting up for a move higher. Our target is $132.
For more from Slim, or to learn about cycle analysis, check out the askSlim Market Week show every Friday on our YouTube channel .
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