On Tuesday, KLA got an upgrade for its IBD SmartSelect Composite Rating from 85 to 97.
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The upgrade means the stock currently tops 97% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
KLA is currently forming a consolidation, with an 896.32 buy point. See if the stock can break out in volume at least 40% above average.
The stock earns a 98 EPS Rating, which means its recent quarterly and longer-term annual earnings growth tops 98% of all stocks.
Its Accumulation/Distribution Rating of D shows moderate selling by institutional investors over the last 13 weeks. Look for the rating to improve to at least a C or better.
In Q3, the company reported 60% EPS growth. It has now posted accelerating EPS gains for six consecutive quarters. Sales growth increased 30%, up from 24% in the prior quarter. That marks five consecutive reports with increasing revenue gains.
KLA holds the No. 1 rank among its peers in the Electronics-Semiconductor Equipment industry group. ACM Research Cl A and Advanced Energy Inds are also among the group's highest-rated stocks.
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