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Chip Gear Maker KLA Tops June-Quarter Goals, Gooses Outlook

Semiconductor equipment maker KLA (KLAC) late Thursday easily topped analyst estimates for its fiscal fourth quarter. It also guided higher for the current period. KLA stock jumped in extended trading.




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The Milpitas, Calif.-based company earned an adjusted $4.43 a share on sales of $1.93 billion in the quarter ended June 30. Wall Street expected KLA earnings of $3.99 a share on sales of $1.87 billion. On a year-over-year basis, KLA earnings surged 62% while sales advanced 32%.

For the current quarter, KLA expects to earn an adjusted $4.45 a share on sales of $2.02 billion. That’s based on the midpoint of its guidance. Analysts were looking for KLA earnings of $4.13 a share on sales of $1.92 billion in the September quarter. KLA’s outlook would translate to year-over-year growth of 47% in earnings and 31% in sales.

In other news, KLA increased its quarterly dividend by 17% to $1.05 per share. It also announced a new $2 billion share repurchase program.

KLA Stock Pops After Earnings

In after-hours trading on the stock market today, KLA stock popped 3% higher, near 329. During the regular session Thursday, KLA stock rose 1.2% to 319.43.

KLA stock has been consolidating for the past 16 weeks at a buy point of 359.79, according to IBD MarketSmith charts.

KLA stock ranks sixth out of 32 stocks in IBD’s semiconductor equipment industry group, according to IBD Stock Checkup. It has an IBD Composite Rating of 96 out of 99. IBD’s Composite Rating combines five separate proprietary ratings into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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