KLA Analysts Boost Their Forecasts After Upbeat Earnings

KLA Corp KLAC posted better-than-expected second-quarter financial results on Thursday.

KLA reported quarterly earnings of $8.20 per share which beat the analyst consensus estimate of $7.75 per share. The company reported quarterly sales of $3.08 billion which beat the analyst consensus estimate of $2.94 billion.

“KLA’s December quarter results were above the midpoint of our guidance ranges despite navigating through the business impact of new U.S. government export controls released late in the quarter. These results supported a strong finish to calendar 2024 for KLA highlighted by relative revenue growth outperformance and strong profitability,” said Rick Wallace, president and CEO, KLA Corporation. “The return to growth at the leading-edge continues to gain momentum led by expanding AI and high-performance computing investments. KLA’s differentiated portfolio of solutions aligns exceptionally well in helping enable our customers to navigate increasing technology complexity, growing design starts and larger semiconductor devices in an environment of rising semiconductor demand.”

KLA said it sees third-quarter total revenues of $3.0 billion +/- $150 million and adjusted EPS of $8.05 +/- $0.60.

KLA shares gained 4.1% to close at $742.43 on Thursday.

These analysts made changes to their price targets on KLA following earnings announcement.

• Deutsche Bank analyst Sidney Ho maintained KLA with a Buy and raised the price target from $725 to $850.
• Needham analyst Charles Shi maintained KLA with a Buy and raised the price target from $800 to $830.

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