KLA-Tencor Corp. (NASDAQ: KLAC) Stock Upgraded to Outperform at Credit Suisse Group AG

Analysts at Credit Suisse Group AG upgraded shares of KLA-Tencor Corp. (NASDAQ: KLAC) from Neutral to Outperform on Tuesday, September 13. A number of other analysts have commented on the shares recently, and the company has earned a consensus one-year price target of $76.70 , higher than the opening price of $71.04. Share prices sometimes get a bounce to the upside when analysts upgrade a stock.

U.S. stocks finished higher on Monday as investor fears for an interest rate hike subsided after Federal Reserve Board Governor Lael Brainard urged caution about removing monetary stimulus too quickly.

The Dow Jones Industrial Average DJIA, +1.32% surged 239.62 points, or 1.3%, to close at 18,325.07, after jumping as high as 273 points.

The S&P 500 SPX, +1.47% rose 31.23 points, or 1.5%, to finish at 2,159.04, with all sectors closing in positive territory.

Meanwhile, the Nasdaq Composite Index COMP, +1.68% finished up 85.98 points, or 1.7%, at 5,211.89, propelled by a rally in biotechnology shares

Shares of KLA-Tencor Corp. (NASDAQ: KLAC) opened at $71.04 and traded in a range between, $69.77 and $71.05 on Friday, and last traded at $69.91, which represents a change of $ -0.71 over the previous closing price. KLA-Tencor Corp.has a 52-week high of $77.85

KLA-Tencor Corp. (NASDAQ: KLAC) now has a market cap of 10.91B

The stocks average daily volume is 1,322,780 shares out of a total float 155,637,000 of and some 268,449 shares traded hands yesterday, 63 percent lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.

While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you’re considering.

By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.

With that in mind KLA-Tencor Corp. (NASDAQ: KLAC) now has a 50-day MA is $71.85 and 200-day MA is $71.73, and it has traded in a 52-week range between $46.76 – 77.85 and the last closing price is -0.10 percent off the 52 week high.

Earnings growth is an important factor to look at when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of The Woodbridge Citizen. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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