On August 4, KLA Corporation rose 3.14% in pre-market trading, trading at $188.48/share, with turnover of $1.0823 million. The semiconductor equipment sector staged a collective rebound, recovering from the prior session's sharp sell-off triggered by the Korean market circuit breaker event.
On the news front, the previous trading day saw the Korean KOSPI index plunge over 5% triggering its circuit breaker mechanism, with Samsung Electronics and SK Hynix closing down over 8%, dragging global semiconductor stocks lower. KLA Corporation fell 3.91% on August 3 as short-term profit-taking pressured the stock following its post-earnings rebound of over 12% from July 30 to 31. The broader semiconductor equipment sector showed synchronized recovery, with Applied Materials up 2.95%, Lam Research up 3.25%, ASML up 2.14%, AXT Inc up 7.32%, and Teradyne up 3.34%.
Fundamentally, KLA's Q4 revenue of $3.66 billion set a record high, with EPS of $1.05 beating estimates by 5%. Multiple institutions have raised target prices to the $225-238 range, providing support for a technical recovery following the oversold conditions.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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