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KLAC

KLA Corporation

NASDAQ: KLAC · TECHNOLOGY · SEMICONDUCTOR EQUIPMENT & MATERIALS

$1,750.35
-3.63% today

Updated 2026-04-29

Market cap
$254.24B
P/E ratio
56.18
P/S ratio
19.95x
EPS (TTM)
$34.44
Dividend yield
0.41%
52W range
$669 – $1,939
Volume
0.9M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

KLA Corporation (KLAC) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$1,750.35
Consensus
$1,651.00
-5.68%
2030 Target
$1,140.00
-34.87%
DCF
—
—
19 analysts:
8 Buy5 Hold0 Sell

Management guidance

KLA reaffirmed March 2026 guidance at Investor Day and announced a $7B share buyback with 21% dividend increase, signaling confidence in cash generation. Management did not provide specific revenue targets for 2026-2030, but the company's historical 15.9% 5-year revenue CAGR and current backlog strength suggest sustained double-digit growth through 2027-2028, with moderation thereafter as the AI capex cycle matures.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$1,710.00
$23.6B Rev × 9.6x P/S
Base case (2030)
$1,140.00
$23.6B Rev × 6x P/S
Bear case (2030)
$570.00
$23.6B Rev × 3.6x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$10.5B$9.8B$12.2B$13.7B$16.7B$19.5B$21.8B$23.6B
Revenue growth—-6.5%23.9%12.4%22.3%16.6%11.8%8.3%
EPS—$23.76$17.66$37.30$48.88$57.50$63.20$67.80
P/S ratio———6.0x6.0x6.0x6.0x6.0x
Implied price———$570.00$760.00$950.00$950.00$1,140.00

Catalysts & risks

Growth catalysts
+ AI infrastructure buildout: Meta, Microsoft, Amazon, Google capex cycles driving semiconductor equipment demand through 2026-2027
+ Advanced chip node transitions (3nm, 2nm) requiring KLAC's critical inspection/metrology tools for yield optimization
+ China semiconductor restrictions (MATCH Act) potentially redirecting capex to allies (Taiwan, South Korea, US) where KLAC has 40%+ revenue exposure
+ Q1 FY2026 earnings (April 29, 2026) expected to show 10.2% YoY revenue growth, validating near-term momentum
Key risks
- China revenue exposure (estimated 40%+) threatened by U.S. export controls and geopolitical escalation
- Valuation stretched at 55x P/E and 19.5x P/S; any guidance miss could trigger sharp correction given high institutional ownership (90.7%)
- AI capex cycle deceleration in 2028-2029 if hyperscaler spending normalizes faster than expected, creating revenue cliff
- Competitive pressure from ASML (lithography tools) and Applied Materials (process control) eroding market share in certain applications

Methodology

KLA Corporation's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 19 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 28, 2026.