KLA shares surge 8.58% after-hours on strong Q1 earnings beat, robust guidance, and multiple analyst price-target upgrades.

KLA Corp. (KLAC) surged 8.58% in after-hours trading following strong Q1 earnings results, with non-GAAP EPS of $8.81 and revenue of $3.21B exceeding estimates. The stock outperformed peers amid robust demand for AI-driven advanced packaging and process control solutions, supported by multiple broker upgrades, including a $1,400 price target from Rothschild & Co. Redburn. Analysts highlighted KLA’s double-digit revenue growth, strong margins, and resilient cash flow, despite cautious guidance and lingering China-related risks cited by management. The move aligns with upward revisions to price targets and an "overweight" average rating from FactSet, reflecting confidence in KLA’s semiconductor exposure and long-term growth prospects.