KLA

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our price target by $23 to $778, 25x our CY 2025 EPS view ($31.13), near peers and above KLAC’s three-year average (~18x) on growing confidence that the semi industry is exiting a downcycle, driven by AI. KLAC posted Mar-Q sales of $2.36B (-3% Y/Y) and EPS of $5.26 (-4%), above consensus, including a -$0.40 impact to EPS from its March decision to exit the flat panel business. We raise our FY 2024 (Jun.) EPS view by $0.06 to $23.36, lift FY 2025’s by $1.27 to $28.56, and raise FY 2026’s by $0.70 to $33.40. We expect CY 2024 growth to be led by foundry/logic activity (64% of Mar-Q process control sales) as customers move at a faster pace toward gate-all-around and 2-nm, while advanced DRAM […]

KLA (KLAC) reported fiscal Q3 non-GAAP net income late Thursday of $5.26 per diluted share, down from $5.49 a year earlier. Analysts polled by Capital IQ expected $5.06. Revenue for the quarter ended March 31 was $2.36 billion, down from $2.43 billion a year earlier. Analysts surveyed by Capital IQ expected $2.32 billion. For fiscal Q4, the company is projecting non-GAAP EPS of $5.47 to $6.67 on revenue of $2.38 billion to $2.63 billion. Analysts polled by Capital IQ are looking for $5.72 and $2.43 billion, respectively.

Wells Fargo analyst Joseph Quatrochi maintains KLA (NASDAQ:KLAC) with a Overweight and raises the price target from $760 to $805.

Stifel analyst Brian Chin reiterates KLA (NASDAQ:KLAC) with a Buy and maintains $685 price target.

KLA Corp Reaffirms Q3 Revenue Guidance Range Of $2.3B, +/- $125M, Est $2.313B; Cuts Adj EPS Outlook From $5.26 +/- $0.60 Range To $4.83 +/- $0.60 Range, Est $5.31。

KLA Expects Exit From FPD Systems Market To Have An Immaterially Favorable Impact On Profitability Margins Over The Longer Term。

B of A Securities analyst Vivek Arya maintains KLA (NASDAQ:KLAC) with a Buy and raises the price target from $740 to $850.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target by $115 to $755, 25x our CY 2025 EPS view, near peers but above KLAC’s three-year average (~18x) on its favorable exposure to AI and early signs of improvement across the semiconductor industry. We maintain our FY 2024 EPS estimate at $23.30, raise FY 2025’s by $0.99 to $27.29, and lift FY 2026’s by $1.71 to $32.70, boosted by the introduction of High NA EUV systems in 2025 and 2026 to support the continued push toward more advanced nodes. AI applications are driving new node investments, benefiting KLAC across multiple product lines. In our view, the semi-cap equipment market is getting more expensive, and we expect price movement from here to be driven more by earnings than by further multiple expansion; however, we

KLA (NASDAQ:KLAC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/20/2024 -3.19% Cantor Fitzgerald → $625 Reiterates Neutral → Neutral 02/12/2024 -3.19% Cantor Fitzgerald → $625 Reiterates Neutral → Neutral 01/29/2024 -3.19% Cantor Fitzgerald → $625 Reiterates Neutral → Neutral 01/29/2024 -0.86% Goldman Sachs $560 → $640 Maintains Buy 01/29/2024 4.56% Susquehanna $640 → $675 Downgrades Positive → Neutral 01/26/2024 -14.8% Barclays $500 → $550 Maintains Underweight 01/26/2024 -3.19% Cantor Fitzgerald → $625 Reiterates Neutral → Neutral 01/26/2024 12.3% JP Morgan $565 → $725 Maintains Overweight 01/26/2024 -0.86% Goldman Sachs $560 → $640 Maintains Buy 01/26/2024 9.21% Wells Fargo $670 → $705 Maintains Overweight 01/26/2024 6.88% Berenberg $670 → $690 Maintains Buy 01/23/2024 -3.19% Cantor Fitzgerald → $625 Initiates Coverage On → Neutral 01/19/2024 -3.19% Raymond James $550 → $625 Maintains Outperform 01/16/2024 -3.19% Stifel $535 → $625 Maintains Buy 01/16/2024 -22.55%

Cantor Fitzgerald analyst C J Muse reiterates KLA (NASDAQ:KLAC) with a Neutral and maintains $625 price target.

KLA (NASDAQ:KLAC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/29/2024 7.36% Goldman Sachs $560 → $640 Maintains Buy 01/29/2024 13.24% Susquehanna $640 → $675 Downgrades Positive → Neutral 01/26/2024 -7.73% Barclays $500 → $550 Maintains Underweight 01/26/2024 4.85% Cantor Fitzgerald → $625 Reiterates Neutral → Neutral 01/26/2024 21.62% JP Morgan $565 → $725 Maintains Overweight 01/26/2024 7.36% Goldman Sachs $560 → $640 Maintains Buy 01/26/2024 18.27% Wells Fargo $670 → $705 Maintains Overweight 01/26/2024 15.75% Berenberg $670 → $690 Maintains Buy 01/23/2024 4.85% Cantor Fitzgerald → $625 Initiates Coverage On → Neutral 01/19/2024 4.85% Raymond James $550 → $625 Maintains Outperform 01/16/2024 4.85% Stifel $535 → $625 Maintains Buy 01/16/2024 -16.12% Barclays $425 → $500 Maintains Underweight 12/18/2023 22.46% New Street Research → $730 Initiates Coverage On → Buy 11/22/2023 -7.73% Redburn Atlantic → $550 Initiates Coverage On → Neutral 10/26/2023

Goldman Sachs analyst Toshiya Hari maintains KLA (NASDAQ:KLAC) with a Buy and raises the price target from $560 to $640.