202.11 -5.54 (-2.67%)
After hours: 5:38PM EDT
|Bid||201.60 x 1400|
|Ask||203.00 x 800|
|Day's Range||202.54 - 208.04|
|52 Week Range||110.19 - 209.30|
|Beta (5Y Monthly)||1.35|
|PE Ratio (TTM)||32.36|
|Earnings Date||Aug 03, 2020|
|Forward Dividend & Yield||3.40 (1.70%)|
|Ex-Dividend Date||May 15, 2020|
|1y Target Est||189.38|
Semiconductor equipment supplier KLA late Monday beat Wall Street's sales and earnings targets for its fiscal fourth quarter. KLA also guided analysts higher for the current quarter.
KLA Corp. shares fluctuated between slight gains and losses in the extended session Monday after the chip-making equipment company topped Wall Street estimates in its quarterly results and outlook and hiked its dividend. KLA shares were last down 0.1% after hours, following a 3.9% rise in the regular session to close at $207.65. The company reported fiscal fourth-quarter net income of $411.3 million, or $2.63 a share, compared with $217.8 million, or $1.35 a share, in the year-ago period. Adjusted earnings were $2.73 a share, compared with $1.78 a share in the year-ago period. Revenue rose to $1.46 billion from $1.26 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $2.41 on revenue of $1.42 billion. KLA expects adjusted first-quarter earnings of $2.42 to $3.06 a share on revenue of $1.41 billion to $1.56 billion, while analysts had forecast earnings of $2.29 a share on revenue of $1.4 billion. The company's board also hiked the quarterly dividend to 90 cents a share from 85 cents a share.
KLA Corporation (NASDAQ: KLAC) today announced operating results for its fourth quarter and fiscal year ended June 30, 2020. KLA reported GAAP net income attributable to KLA of $411 million and GAAP earnings per diluted share attributable to KLA of $2.63 on revenues of $1,460 million for the fourth quarter of fiscal year 2020. For the fiscal year ended June 30, 2020, KLA reported GAAP net income attributable to KLA of $1,217 million and GAAP earnings per diluted share attributable to KLA of $7.70 on revenues of $5,806 million.
On Monday, August 03, KLA (NASDAQ: KLAC) will release its latest earnings report. Benzinga's outlook for KLA is included in the following report.Earnings and Revenue Analysts expect KLA earnings of $2.41 per share. Revenue will likely be around $1.41 billion, according to the consensus estimate. KLA EPS in the same period a year ago totaled $1.780. Sales were $1.26 billion. The Wall Street consensus estimate for earnings would represent a 35.39% increase for the company. Sales would be up 1.44% from the same quarter last year. In comparison to analyst estimates in the past, here's how the company's reported EPS stacks up:Quarter Q3 2020 Q2 2020 Q1 2019 Q4 2019 EPS Estimate 2.28 2.58 2.20 1.73 EPS Actual 2.47 2.66 2.48 1.78 Revenue Estimate 1.39 B 1.48 B 1.35 B 1.26 B Revenue Actual 1.42 B 1.51 B 1.41 B 1.26 B Stock Performance Over the last 52-week period, shares are up 56.07%. Given that these returns are generally positive, long-term shareholders can be satisfied going into this earnings release.View more earnings on KLACDon't be surprised to see the stock move on comments made during its conference call. KLA is scheduled to hold the call at 17:00:00 ET and can be accessed here: https://edge.media-server.com/mmc/p/dmfcv4mrSee more from Benzinga * Stocks That Hit 52-Week Highs On Thursday * Stocks That Hit 52-Week Highs On Monday * Benzinga's Top Upgrades, Downgrades For July 9, 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Here's a sneak peek into how three electronics stocks might fare in their upcoming quarterly results, slated to release on Aug 3.
Brown Advisory recently released its Q2 2020 Investor Letter, a copy of which you can download here. The Mid-Cap Growth Fund posted a return of 31.64% for the quarter, outperforming its benchmark, the Russell Midcap Growth Index which returned 30.26% in the same quarter. You should check out Brown Advisory’s top 5 stock picks for […]
Today KLA Corporation (NASDAQ: KLAC) announced the revolutionary eSL10™ e-beam patterned-wafer defect inspection system. The new system is designed to accelerate time-to-market for high-performance logic and memory chips, including those that rely on extreme ultraviolet (EUV) lithography, by detecting and reporting defects that cannot be routinely captured by optical or other e-beam defect inspection platforms. Built from the ground up, with multiple breakthrough technologies reflecting years of research and development, the eSL10 delivers high resolution, high speed inspection capability, unmatched by any other e-beam system on the market.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
KLA Corporation (NASDAQ: KLAC) announced today that the company will conduct an audio webcast and conference call to review its fourth quarter fiscal year 2020 results on Monday, Aug. 3, 2020 at 2 p.m. PT. The company's results will be published on the same day after the stock market closes as well as supplemental disclosures including a shareholder letter and earnings slide presentation.
The rally in technology stocks has been aiding the Nasdaq Composite. Here we have picked five technology stocks that are well poised to grow as economic activities gain momentum in the United States.
(Bloomberg) -- The U.S. and China are moving beyond bellicose trade threats to exchanging regulatory punches that threaten a wide range of industries including technology, energy and air travel.The two countries have blacklisted each other’s companies, barred flights and expelled journalists. The unfolding skirmish is starting to make companies nervous the trading landscape could shift out from under them.“There are many industries where U.S. companies have made long-term bets on China’s future because the market is so promising and so big,” said Myron Brilliant, the U.S. Chamber of Commerce’s head of international affairs. Now, they’re “recognizing the risk.”China will look to avoid measures that could backfire, said Shi Yinhong, an adviser to the nation’s cabinet and a professor of international relations at Renmin University in Beijing. Any sanctions on U.S. companies would be a “last resort” because China “is in desperate need of foreign investment from rich countries for both economic and political reasons.”Nevertheless, pressure is only expected to intensify ahead of the U.S. elections in November, as President Donald Trump and presumptive Democratic nominee Joe Biden joust over who will take a tougher line on China.Trump has blamed China for covering up the coronavirus pandemic he has mocked as “Kung Flu,” accused Beijing of “illicit espionage to steal our industrial secrets” and threatened the U.S. could pursue a “complete decoupling” from the country. Biden, likewise, has described President Xi Jinping as a thug, labeled mass detention of Uighur Muslims as unconscionable and accused China of predatory trade practices.And on Capitol Hill, Republicans and Democrats have found rare unity in their opposition to China, with lawmakers eager to take action against Beijing for its handling of Covid-19, forced technology transfers, human rights abuses and its tightening grip on Hong Kong.“China is going to be a punching bag in the campaign,” said Capital Alpha Partners’ Byron Callan. “But China is a punching bag that can punch back.”China has repeatedly rejected U.S. accusations over its handling of the pandemic, Uighurs, Hong Kong and trade, and it has fired back at the Trump administration for undermining global cooperation and seeking to start a “new cold war.” Foreign Minister Wang Yi last month said China had no interest in replacing the U.S. as a hegemonic power, while adding that the U.S. should give up its “wishful thinking” of changing the country.Both sides have already taken a series of regulatory moves aimed at protecting market share.The U.S. is citing security concerns in blocking China Mobile Ltd., the world’s largest mobile operator, from entering the U.S. market. It’s culling Chinese-made drones from government fleets and discouraging the deployment of Chinese transformers on the power grid. The Trump administration has also tried to constrain the global reach of China’s Huawei Technologies Co., the world’s largest telecommunications equipment manufacturer.Meanwhile, China prevented U.S. airline flights into the country for more than two months and, after the U.S. imposed visa restrictions on Chinese journalists, it expelled American journalists. It has stepped up its scrutiny of U.S. companies, with China’s state news agency casting one probe as a warning to the White House. China also has long made it difficult for U.S. telecommunications companies to enter its market, requiring overseas operators to co-invest with local firms and requiring authorization by the central government.One of the most combustible flash points has been the Trump administration’s campaign to contain Huawei by seeking to limit the company’s business in the U.S. and push allies to shun its gear in their networks.The U.S. Federal Communications Commission moved to block devices made by Huawei and ZTE Corp. from being used in U.S. networks. And the Commerce Department has placed Huawei on blacklists aimed at preventing the Chinese company from using U.S. technology for the chips that power its network gear, including tech from suppliers Qualcomm Inc. and Broadcom Inc.After suppliers found work-arounds, Commerce in May tightened rules to bar any chipmaker using American equipment from selling to Huawei without U.S. approval. The step could constrain virtually the entire contract chipmaking industry, which uses equipment from U.S. vendors such as Applied Materials Inc., Lam Research Corp. and KLA Corp. in wafer fabrication plants.The curbs also threaten to cripple Huawei. Although the company can buy off-the-shelf or commodity mobile chips from a third party such as Samsung Electronics Co. or MediaTek Inc., going that route would force it to make costly compromises on performance in basic products.Huawei was on a list the Pentagon unveiled last week of companies it says are owned or controlled by China’s military, opening them to increased scrutiny. The Ministry of Foreign Affairs in Beijing accused the Trump administration of “violating the very market economy principle the U.S. champions.”“We are strongly opposed to this,” the foreign ministry said Sunday of the Pentagon’s designation. “China urges the U.S. to stop suppressing Chinese companies without reason and provide a fair, just and non-discriminatory environment for Chinese companies to operate normally in the U.S.”After the new restrictions, the editor of the Communist Party’s Global Times newspaper tweeted that China would retaliate using an “unreliable entities list” that it first threatened at the height of the trade war last year. Although China didn’t identify companies on the list, the Global Times has cited a source close to the Chinese government as saying U.S. bellwethers such as Apple Inc. and Qualcomm could be targeted.The fallout could extend to companies heavily reliant on Chinese supply chains, as well consumer-facing brands eager to expand sales in Asia. Boeing Co., which recorded $5.7 billion of revenue from China in 2019, and Tesla Inc., the biggest U.S. carmaker operating independently in China, are among companies most exposed if relations sour further.“We’re playing in a much wider field now,” said Jim Lucier, managing director of research firm Capital Alpha Partners. “We’re not simply talking about ‘you tariff me’ and ‘I tariff you.’ The playing field is virtually unlimited.”Planes and AutomobilesU.S. automakers have also been singed. In June, China fined Ford Motor Co.’s main joint venture in the country for antitrust violations, saying Changan Ford Automobile Co. had restricted retailers’ sale prices since 2013.Aviation has been another source of tension, as both countries squabble over access to their skies. China’s decision to limit U.S. airlines operations to those services scheduled as of March 12 hurt carriers such as United Airlines Holdings Inc., Delta Air Lines Inc, and American Airlines Group Inc. that had suspended passenger flights to and from China because of the coronavirus pandemic.The U.S. responded earlier this month by initially threatening to ban all flights from China, then relenting to allow two flights weekly once Chinese officials eased their restrictions. Now, in what appears to be a staged de-escalation, China gave U.S. passenger carriers permission to operate four weekly flights to the country and earlier this month, the Trump administration matched the move by also authorizing four flights from Chinese airlines.It’s happening outside of aviation too. Consider the U.S. government’s decision to seize a half-ton, Chinese-made electrical transformer when it arrived at an American port last year and divert the gear to a national lab instead of the Colorado substation where it was supposed to be deployed. That move -- and a May executive order from Trump authorizing the blockade of electric grid gear supplied by “foreign adversaries” of the U.S. in the name of national security -- have already sent shock waves through the power sector.The effect has been to dissuade American utilities from buying Chinese equipment to replace aging components in the nation’s electrical grid, said Jim Cai, the U.S. representative for Jiangsu Huapeng Transformer Co., the company whose delivery was seized. Although Cai said the firm has supplied parts to private utilities and government-run grid operators in the U.S. for nearly 15 years without security complaints, at least one American utility has since canceled a transformer award to the company, Cai said.Trump’s directive is tied to a broader effort to bring more manufacturing to the U.S. from China. “This is a part of the administration’s efforts to impair China’s supply chains into the United States,” said former White House adviser Mike McKenna.Escalating tensions could jeopardize the U.S. economic recovery as well as China’s trade commitment to buy $200 billion in American goods and services over the next two years. The country’s purchase of U.S. goods increased last month as the economy continued its recovery from the coronavirus shutdowns, but imports are still far behind the pace needed to meet the terms of the phase one trade deal, according to Bloomberg calculations based on data from China’s Customs Administration.U.S.-China struggles also may factor into the November presidential election. Former U.S. national security adviser John Bolton alleges in a new book that Trump asked Xi to help him win re-election by buying more farm products -- a claim the White House has dismissed as untrue.“I don’t expect one single blow to send this relationship in a tailspin,” the chamber’s Brilliant said. “Each side will calibrate their reactions in a way that will not tip the scales too far.”Take the recent spat over media access. After the U.S. designated five Chinese media companies as “foreign missions,” China revoked press credentials for three Wall Street Journal staff members over an article with a headline describing China as the “real sick man of Asia.”Then the Trump administration ordered Chinese state-owned news outlets to slash staff working in the U.S. Beijing responded in March by effectively expelling more than a dozen U.S. journalists working in China.Both the U.S. and China have ample opportunities to ratchet up regulatory pressure. A bill passed by the Senate last month could prompt the delisting of Chinese companies from U.S. stock exchanges if American officials aren’t allowed to review their financial audits.And last week, as the U.S. State Department imposed visa bans on Chinese Communist Party officials accused of infringing the freedom of Hong Kong citizens, a senior official made clear the move was just an opening salvo in a campaign to force Beijing to back off new restrictions on the city.China, similarly, can slow licensing decisions and regulatory approvals, launch investigations under its anti-monopoly law and squeeze financial firms that want to do business in the country. For instance, the country could rescind pledges to let U.S. financial firms take controlling stakes in Chinese investment banking joint ventures, according to a Cowen analyst.“China will not make any significant compromise and will retaliate whenever and wherever possible,” said Shi, the Renmin University professor.Companies are still lured to China and its massive local market -- and tensions with the U.S. don’t overcome the Asian superpower’s appeal. Just one-fifth of companies surveyed by the American Chamber of Commerce in China late last year said they had moved or were considering moving some operations outside of the country, part of a three-year downward trend.But the coronavirus pandemic has subsequently pushed more companies to reckon with the risks of relying too heavily on any single country for their supply chains, amid existing concerns about forced technology transfers, cost and rising tensions that could damp investment in China.China is no longer the lowest-cost manufacturer, and companies are more reluctant to invest there, said James Lewis, director of the Technology Policy Program at the Center for Strategic and International Studies in Washington.“Everyone would like to be in the China market -- everyone wants it to be like 2010 -- but things are changing.”(Updates with trade data in 28th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares of KLA Corp. are off 1.5% in premarket trading Monday while shares of Lam Research Corp. are down 0.6% after Stifel analyst Patrick Ho downgraded the stocks to neutral from buy. "We believe the recent rally in the markets and the group has led to a less attractive valuation that has risen 'too high' and 'too fast'" Ho wrote. "We believe there is the potential for memory fundamentals to begin weakening in CY-2H20 and this could lead to push outs of certain memory projects out of 2020." He kept a buy rating on shares of Applied Materials Inc. , arguing that the stock still had room for upside and that Applied Materials was among a handful of names that could outperform in the semiconductor-equipment space in part due to more balanced business models. Applied shares have gained 60% over the past three months, while KLA shares have added 69% and Lam shares have rallied 68%. The S&P 500 has increased 34% in that span.
KLA Corporation (NASDAQ: KLAC) today announced that the KLA Foundation is dedicating $1 million to national and local initiatives which focus on addressing and improving systemic racial inequality. The Foundation will grant $250,000 to the National Association for the Advancement of Colored People (NAACP) and another $250,000 towards organizations focused on wellness in the Black community. The remaining $500,000 will support important initiatives in the locations where KLA employees live and work, to help drive long-term change and eradicate race-based violence and injustice.
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each […]
(Bloomberg) -- The Trump administration has fired multiple salvos against Huawei Technologies Co. since the start of a campaign to derail China’s technological ascendancy. The latest blow threatens to cripple the country’s tech champion.Huawei’s leafy campus in southern China has been engulfed in a state of emergency since the Commerce Department in May banned the sale of any silicon made with U.S. know-how -- striking at the heart of its semiconductor apparatus and aspirations in fields from artificial intelligence to mobile services. Its stockpiles of certain self-designed chips essential to telecom equipment will run out by early 2021, according to people familiar with the matter.Executives scurried between meetings in the days after the latest restrictions, according to one person who attended the discussions. But the company has so far failed to brainstorm a solution to the curbs, they added, asking not to be identified talking about private matters. While Huawei can buy off-the-shelf or commodity mobile chips from a third party like Samsung Electronics Co. or MediaTek Inc., it couldn’t possibly get enough and may have to make costly compromises on performance in basic products, they added.What Huawei’s brass fears is that Washington, after a year of Entity List sanctions that’ve failed to significantly curtail the company’s rapid growth, has finally figured out how to quash its ambitions. The latest curbs are the culmination of a concerted assault against China’s largest tech company that began years ago, when the White House tried to cut off the flow of American software and circuitry; lobbied allies from the U.K. to Australia to banish its network gear; even persuaded Canadian police to lock up the founder’s daughter. The latest measures however are a more surgical strike leveled at HiSilicon, the secretive division created 16 years ago to drive research into cutting-edge fields like AI inference chips. That unit surged in prominence precisely because it’s viewed as a savior in an era of American containment, and its silicon now matches rivals’ like Qualcomm Inc.’s and powers many of Huawei’s products: the Kirin for phones, Ascend for AI and Kunpeng for servers.Now that ambition is in doubt. Every chipmaker on the planet, from Taiwan Semiconductor Manufacturing Co. to China’s own Semiconductor Manufacturing International Corp., needs gear from American outfits like Applied Materials Inc. to fabricate chipsets. Should Washington get serious about throttling that spigot, Huawei won’t be able to get any of the advanced silicon it designs into the real world -- stymieing efforts to craft its own processors for mobile devices and radio frequency chips for 5G base stations, to name just two of the most vital in-house components. Dubbed the Foreign-Produced Direct Product Rule or DPR, Trump’s latest constraints have implications for China’s 5G rollout, for which Huawei is by far the dominant purveyor.The ban “focuses on HiSilicon-designed chips, which present the biggest threat to the U.S.,” Jefferies analyst Edison Lee wrote in late May. “The DPR could quash HiSilicon and then Huawei’s ability to make 5G network gears.”Read more: U.S.-China Fight Over Chip Kingpin Rattles Tech IndustryThe scene at Huawei’s Shenzhen nerve center invokes deja vu from a year ago, when Huawei billionaire Ren Zhengfei emerged from seclusion to declare his company’s survival in doubt. In the months following that proclamation, two things happened. U.S. companies, spooked by the prospect of losing billions, lobbied Washington for exceptions to the Entity List and suppliers from Intel Corp. to Micron Technology Inc. relocated assembly to increase foreign-produced components and continue supplying the Chinese company. Huawei employees -- spurred on by patriotism given perceptions the nation was under attack -- went to 24-hour days to design alternatives to American parts.The latest curbs could prove more effective because they remove Huawei’s chipmaker of choice from the equation. In theory, any chipmaker can petition the Commerce department for approval to ship Huawei-designed semiconductors, and opinion is divided on both sides of the Pacific as to how far the agency will allow shipments to proceed. But if it chooses to enforce the new curbs to the hilt, HiSilicon can no longer take its designs to TSMC or any foreign contract manufacturer. And local peers such as SMIC typically operate two generations behind TSMC.In fact, the latest curbs could severely disrupt production of some of the more critical and visible products in Huawei’s portfolio, including the Kirin brains and communications chips of future 5G phones, AI learning chips for its cloud services and servers and the most basic kinds of chips for networking. In February, Huawei touted how its next-generation antenna chips have been installed in “the industry’s highest-performance” 5G base stations. It may no longer able to ship those base stations after the chip inventory runs out.“HiSilicon won’t be able to continue its innovation any further until it’s able to find alternatives through self-development and collaboration with local ones, which will take years to mature,” said Charlie Dai, a principal analyst at Forrester Research. “We estimate that Huawei’s inventory of high-end chips (including baseband chips and CPUs for Huawei’s high-end smartphones) may last 12 to 18 months maximum.”Read about how Trump’s blacklisting of Huawei failed to halt its growth.Modern chip manufacturing at the highest levels simply cannot happen without American gear from the likes of Applied Materials, KLA Corp. and Lam Research Corp. Even in basic wafer fabrication, replacing TSMC is impossible because the Taiwanese foundry is the only company able to reliably make semiconductors using 7 nanometer or smaller nodes -- a must for high performance. Moving everything in-house -- essentially building an American-free plant -- is a pipe dream because it requires extreme ultraviolet lithography machines from ASML Holding NV -- a prerequisite for next-generation chipmaking. Yet ASML’s machines also use American technology from the likes of suppliers such as II-VI Inc. and Lumentum Holdings Inc, according to data compiled by Bloomberg. The best Chinese alternative could be Shanghai Micro Electronics Equipment, but its EUVs are again a few generations behind the Dutch firm’s.All that’s even before factoring in the uncertainty over Huawei’s access to design software developed by Cadence Design Systems Inc. and Synopsys Inc. The pair provide electronic design automation (EDA) tools that Hisilicon’s engineers rely on to draw up blueprints for next-generation processors. As Assistant Secretary of State for International Security and Nonproliferation Christopher Ford told reporters in late May: “If one wants to be working in the area of the very best chips, the chips that have the most computing power packed into the smallest space, it is necessary to use U.S. design tools right now because we have a commanding comparative advantage in that area.”“While there will be lots of opportunity to continue selling lesser quality chips to Huawei, this will be an additional challenge for the really good stuff,” he added.How Huawei Landed at the Center of Global Tech Tussle: QuickTakeIn the long run, the lack of consistent in-house chip supplies will disrupt China’s grand ambition of challenging the U.S. for global tech supremacy. More immediately, they threaten to curtail China’s crucial $500 billion 5G rollout -- a key piece of Beijing’s longer-term strategic vision.Huawei stands at the center of Beijing’s $1.4 trillion New Infrastructure initiative to seize the lead in 5G-based technology. Now it’s uncertain if it can even fulfill the 90-plus contracts it’s won so far to build networks for local operators like China Mobile Ltd. and other carriers around the world. That’s because HiSilicon’s chips are essential in products waiting to be shipped out. The uncertainty of not just fulfilling contracts -- but also around Huawei’s very ability to maintain clients’ networks once they’re up and running -- may also spook potential future customers.Internally, executives remain hopeful of finding a workaround, and are repeating the same mantra of a year ago -- doing without American technology isn’t impossible. “The good news is we still have time,” said one person involved in Huawei’s supply chain management. Chip architecture and supply “redesign takes time, but not something that can’t be done.”(Updates with table of Huawei’s chipmaking options after the tenth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The health crisis boosted demand for home office equipment such as desktop and laptop computers, and other home networking apparatus, all of which require plenty of DRAM and NAND memory chips.
KLA Corporation (NASDAQ: KLAC) announced today that a live audio webcast of the following investor presentation will be available as described below:
KLA moved above 177.27 buy point – intraday. Chip-equipment maker has been finding resistance around 177-180. Also could view 184.60, just above left-hand side of base, as an entry.
KLA Corporation (NASDAQ: KLAC) today announced the formation of a new business group focused on growth in its Electronics, Packaging and Components (EPC) businesses. Under the leadership of KLA Executive Vice President Oreste Donzella, the EPC group extends KLA's leadership in systems and services across the semiconductor and microelectronics value chain. The EPC group brings together the ICOS, Orbotech and SPTS Technologies organizations to target growth opportunities in new and expanding end markets.