KLA Corp.’s (NASDAQ:KLAC) shares saw a notable rise at the time of writing as a wave of admiration from Wall Street took over following the company’s recent earnings report. Goldman Sachs analyst Toshiya Hari underlined how the resilient demand for KLA’s Bare Wafer, Optical, and Reticle Inspection tools, coupled with their Services, propelled another impressive round of results. Maintaining his buy rating, Hari elevated his per-share price target to $540 from $456, expecting that various architectural shifts will intensify Process Control.
Furthermore, JP Morgan’s Harlan Sur emphasized that KLA and the process control segment of the wafer fab equipment market outperformed the general market. He noted KLA’s successful engagement with next-gen manufacturing trends and how this is driving demand for their solutions. The company’s exposure to rapidly growing trends in advanced packaging and silicon carbide power is sustaining the specialty semi-equipment segment, Sur added, raising his per-share price target to $560 from $445.
Is KLAC a Good Stock to Buy?
Overall, analysts have a Moderate Buy consensus rating on KLAC stock based on five Buys, five Holds, and one Sell assigned in the past three months, as indicated by the graphic above. Nevertheless, the average price target of $521.67 per share implies only 3.59% upside potential.