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KLACKLA Corporation
$188.32$246.0B
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KLA Corporation (KLAC) Research Brief

Wall Street consensus, price target range, and equity research thesis

Buy44 Analyst Coverage
Consensus Target
$226+19.7% Upside
Current: $188.32
Analyst Range
Low $180High $325
12-Month High/Low Spread
Ratings Mix
28 Buy·14 Hold·2 Sell
Earnings & Valuation
EPS Beat 5.0%
Forward P/E: 34.3x

Executive Summary & Research Take

Wall Street currently rates KLAC buy with a 12-month price target of $226 (+19.7% upside). The sections below cover the bull case, key risks, and latest earnings context for KLA Corporation.

Recent Analyst Actions

KLAC Analyst Upgrades & Price Target Changes

3 of 3 analysts raised targets. Recent price target changes and ratings for KLAC.

Updated Jun 2026
FirmActionRatingPrice Target
BarclaysRaisedOverweight$1700$2250
Cantor FitzgeraldRaisedOverweight$2000$2500
UBSRaisedNeutral$1770$2180

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Analyst Research Summary

Investment Thesis: Bull Case & Risk Factors

A structured look at the bull case, the risks, and the most recent earnings execution for KLAC.

Current setup

KLAC beat estimates last quarter. Below are the key reasons analysts remain constructive and the risks that could change that view.

Bull Case

What keeps the long thesis intact

  • Market Dominance and AI DemandKLA holds a near-monopoly in semiconductor process control systems, crucial for advanced chips, especially for AI applications.
  • Robust Financial PerformanceKLA's TTM revenue reached $13.1 billion with a net income of $4.7 billion, resulting in a net margin of 35.7%.
  • Margin Expansion and ProfitabilityKLA's TTM net margin improved from 32% to 35.7%, indicating strong profitability and expected margin expansion.
  • Capital Returns and Shareholder ValueKLA increased its quarterly dividend to $2.30 per share and authorized an additional $7 billion for stock repurchases.
  • Positive Analyst SentimentA majority of analysts rate KLAC as 'Buy' or 'Strong Buy', with a median price target between $1,700.00 and $1,823.00.

Wall Street rates KLAC buy, giving the bull case institutional backing from 44 analysts.

Watch Out For

What can break the setup quickly

  • Geopolitical Risks (China)China accounted for 33% of KLA's fiscal 2025 revenue, with estimated revenue headwinds of $300 to $350 million due to U.S. export controls.
  • Valuation ConcernsKLA trades at a premium P/E ratio of 49.1x to 52.53x, suggesting potential overvaluation compared to peers.
  • Cyclicality of Semiconductor IndustryThe semiconductor equipment cycle may face a digestion period as capital expenditures normalize, impacting KLA's service business.
  • High ExpectationsKLAC shares are up nearly 50% year-to-date, leading to high expectations that could result in a pullback if unmet.

Watch whether new negative commentary on KLAC points to these structural risks or is simply reacting to short-term price moves.

KLAC Earnings Reaction — What the Last Quarter Showed

Last Quarter

EPS
$1.05 vs $1.00 est.Beat 5.0%
Revenue
$3.7B vs $3.6B est.Beat 1.4%
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KLAC — Frequently Asked Questions

Quick answers to the most common questions about buying KLAC stock.

What is the analyst consensus on KLAC?
Verdict

KLAC has modest upside — analysts rate it "Buy" with a $226 target, implying +19.7% from today's $188.32. This is informational only — verify the data and consider your own risk tolerance before deciding.

What are recent analyst rating changes for KLAC?
Timing

Timing depends on your horizon, but the data signals are: consensus rating "Buy" with +19.7% upside to the $226 target. In the past 30 days, 3 of 3 covering analysts raised their price targets — a bullish signal.

What is the price target for KLAC stock?
Price Target

KLAC's consensus 12-month price target is $226, set by 44 Wall Street analysts. The bull case high is $325 and the bear case low is $180. From the current price of $188.32, this implies +19.7% upside.

Is KLAC overvalued or undervalued?
Valuation

KLAC appears undervalued — the $226 consensus target is +19.7% above today's $188.32. It trades at a forward P/E of 34.3x. Targets range from $180 (bear) to $325 (bull), reflecting different assumptions about growth and margins.

What were KLAC's latest earnings results?
Earnings

KLAC reports next quarter. Earnings-week moves are volatile — historically, analyst targets revise upward after a beat and downward after a miss. The current consensus is "Buy" with a $226 target. Consider position sizing rather than going all-in pre-print.

What is the bull case for KLAC?
Coverage

Of 44 analysts covering KLA Corporation (KLAC): 0 Strong Buy, 28 Buy, 14 Hold, 2 Sell, 0 Strong Sell — a "Buy" consensus. The 12-month price target is $226 (range $180–$325). Bullish analysts outnumber bearish by more than 2-to-1.

What are the risks of investing in KLAC?
Risks

2 of the 44 analysts covering KLAC rate it Sell or Strong Sell. Common concerns include valuation stretch, slowing growth, and sector-specific headwinds — see the Bull vs. Risk cards above for the specific theses on KLA Corporation.

Financial Data & Software Notice: VCP Scanner is an educational financial research database and stock screening software platform. VCP Scanner does not generate, recommend, or package trade decisions, buy/sell signals, or personalized investment advice. Consensus ratings and price targets reflect aggregated third-party Wall Street analyst research from public SEC filings. See our Terms of Service and Privacy Policy.