KLA Stock Surges 5.66% as Citigroup Boosts Price Target to $900
1min read On September 19, KLA Corporation (KLAC) saw its stock rise by 5.66%. This uptick comes shortly after Citigroup maintained its 'buy' rating for the company on September 16, setting a new price target of $900.00 per share.
KLA released its annual report for the fiscal year 2024 on August 5, detailing revenue figures amounting to $9.812 billion as of June 30, 2024, which reflects a year-over-year decrease of 6.51%. The firm also reported a net profit of $2.762 billion, with basic earnings per share standing at $20.41.
Founded in April 1997, KLA is a Delaware-registered company, recognized globally as a leader in process control. The company supplies process support solutions to diverse sectors, including semiconductors, printed circuit boards (PCB), and displays. KLA's offerings include solutions for manufacturing and testing wafers, integrated circuits (ICs or chips), packaging, LEDs, power devices, compound semiconductor devices, micro-electromechanical systems, data storage, PCBs, flat-panel and flexible displays, and general materials research.
Furthermore, KLA provides comprehensive installation and maintenance services based on a well-established installed base, ensuring long-term operational excellence for their clients across multiple industries.