KLA-Tencor Corporation (NASDAQ: KLAC) shares fell on Tuesday January 31 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.60% fell 140 points, or 0.7%, to 19,833, with 26 of the 30 blue-chip companies trading lower. Nike, Inc. NKE, -1.10% down 2.4% and Intel Corp. INTC, -1.70% off 1%, were leading losses.
The S&P 500 SPX, -0.33% was off by 10 points, or 0.5%, to 2,270 with seven of the 11 main sectors trading lower. Industrials, consumer-discretionary, and technology shares were the worst performers, while real estate and utilities stocks attracted buyers.
The health-care sector, which was down in early trade, rebounded after President Trump called for scaling back drugmaker’s regulation, lowering taxes and prices of medicines.
The Nasdaq Composite COMP, -0.25% declined 31 points, or 0.6%, to 5,581.
KLA-Tencor Corporation (NASDAQ: KLAC) had its Hold rating reiterated by equities researchers at Deutsche Bank AG in a research note to investors. Deutsche Bank AG currently has a rating of Hold on the stock. The one-year price target of $86.67 is higher than the opening price of $86.23, resulting a number of other analysts to issue statements on the company recently. Looking back over the last 52 weeks, KLA-Tencor Corporation stock has a high of $86.23. Typically, after analysts assign a “reiterated rating” report on a stock, they will later issue other updates, often followed by a price target change.
Yesterday KLA-Tencor Corporation (NASDAQ: KLAC) shares last traded at $85.49, which is a decrease of $0.76 compared to the previous closing price. Opening at $86.23, they varied from $85.42 and $86.23 throughout the day.
KLA-Tencor Corporation (NASDAQ: KLAC) now has a market cap of 13.40B.
KLA-Tencor Corporation (NASDAQ: KLAC) Average Daily Trading Volume
The stock’s average daily volume is 1,648,430 shares out of a total float 156,235,000 and some 105,997 shares traded hands yesterday, 94 percent lower than the norm. lower than normal. Look for trading volume to pick up in the coming days as investors often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
KLA-Tencor Corporation (NASDAQ: KLAC) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for KLA-Tencor Corporation (NASDAQ: KLAC) have ranged from $62.33 – 86.23, and the stock now has a 50-day MA of $80.31 and 200-day MA of $75.19. Today’s last price is 0.86%% under the 52 week high of $86.23.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors look for companies that have been successful at growing their earnings at least 25% or more for 3 consecutive years.
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