KLA (KLAC) Dips More Than Broader Market: What You Should Know

KLA (KLAC) declined 3.13% in recent trading, underperforming the S&P 500's 0.59% loss. The semiconductor equipment manufacturer has fallen 12.17% over the past month. However, the company is forecasted to report strong earnings growth of 32.95% YoY with revenue expected to increase 25.42%. For the full year, earnings are projected to grow 44.41% with revenue up 31.46%. KLA holds a Zacks Rank #2 (Buy) rating, though it trades at a premium valuation with a Forward P/E of 33.71 versus its industry average of 20.64.