UPDATE: Piper Sandler Starts KLA Corporation (KLAC) at Neutral

October 14, 2021 4:11 PM EDT
Get Alerts KLAC Hot Sheet
Price: $389.56 -0.3%

Rating Summary:
    19 Buy, 10 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
Join SI Premium – FREE
(Updated - October 15, 2021 3:48 AM EDT)

Piper Sandler analyst Weston Twigg initiates coverage on KLA Corporation (NASDAQ: KLAC) with a Neutral rating and a price target of $338.00.

The analyst comments "KLAC dominates the semiconductor Process Control segment, selling leading-edge metrology, inspection, and software solutions to all semiconductor manufacturers. It has over 50% market share in overall process control, in our view, and over 80% share in core markets, like optical wafer inspection and optical mask inspection, allowing KLA to generate high margins. Long-term tailwinds should remain positive; we believe we’re in an expansionary era in the semiconductor industry, with more compute, memory, and related chips being used in more devices each year. Compute tailwinds such as AI/ML and 5G are just beginning, as are use-cases like Industrial IoT and autonomous vehicles. Still, likely moderate industry digestion by 2023, after rapid expansion in 2021-2022, could limit upside over the next 12 months."

For an analyst ratings summary and ratings history on KLA Corporation click here. For more ratings news on KLA Corporation click here.

Shares of KLA Corporation closed at $320.41 yesterday.

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage