Potential Price Increase for KLA Corp. (KLAC) After Recent Insider Activity

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KLA Corp.’s filing revealed that its EVP, CLO and Secretary Wilkinson Mary Beth unloaded Company’s shares for reported $0.24 million on Nov 15. In the deal valued at $550.00 per share,430 shares were sold. As a result of this transaction, Wilkinson Mary Beth now holds 6,364 shares worth roughly $4.12 million.

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Then, Wilkinson Mary Beth sold 3,155 shares, generating $1,424,514 in total proceeds. Upon selling the shares at $451.51, the EVP, CLO and Secretary now owns 6,794 shares.

Before that, Hanley Jeneanne Michelle sold 500 shares. KLA Corp. shares valued at $254,486 were divested by the Director at a price of $508.97 per share. As a result of the transaction, Hanley Jeneanne Michelle now holds 3,054 shares, worth roughly $1.98 million.

Susquehanna downgraded its KLA Corp. [KLAC] rating to a Neutral from a a Positive in a research note published on Monday, January 29, 2024; the price target was increased to $675 from $640.

Price Performance Review of KLAC

On Monday, KLA Corp. [NASDAQ:KLAC] saw its stock fall -0.27% to $648.05. Over the last five days, the stock has gained 5.39%. KLA Corp. shares have risen nearly 11.48% since the year began. Nevertheless, the stocks have risen 60.51% over the past one year. While a 52-week high of $658.78 was reached on 01/25/24, a 52-week low of $355.88 was recorded on 01/05/24. SMA at 50 days reached $581.10, while 200 days put it at $498.67. A total of 1.2 million shares were traded, compared to the trading of 1.25 million shares in the previous session.

Levels Of Support And Resistance For KLAC Stock

The 24-hour chart illustrates a support level at 642.99, which if violated will result in even more drops to 637.94. On the upside, there is a resistance level at 655.33. A further resistance level may holdings at 662.62. The Relative Strength Index (RSI) on the 14-day chart is 67.35, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 23.48, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 13.92%. Stochastics %K at 74.05% indicates the stock is a holding.

How much short interest is there in KLA Corp.?

A steep rise in short interest was recorded in KLA Corp. stocks on Jan 31, 2024, dropping by -0.78 million shares to a total of 1.42 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 2.2 million shares. There was a decline of -54.93%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.05% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.35.

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