KLAC KLA Corporation - Common Stock

NASDAQ · Semiconductors · View on SEC EDGAR ↗
$188.67
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$170–$2157
1% of range
Analyst Rating
BUY
35 analysts
Price Target
$232
+23% upside
P/E (TTM)
51.5
ROE
81.8%
Net Profit Margin
35.6%

About KLA Corporation - Common Stock Company overview from Wikipedia

KLA Corporation is an American company based in Milpitas, California that makes wafer fab equipment. It supplies process control and yield management systems for the semiconductor industry and other related nanoelectronics industries. The company's products and services are intended for all phases of wafer, reticle, integrated circuit (IC) and packaging production, from research and development to final volume manufacturing.

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KLA Corporation is an American company based in Milpitas, California that makes wafer fab equipment. It supplies process control and yield management systems for the semiconductor industry and other related nanoelectronics industries. The company's products and services are intended for all phases of wafer, reticle, integrated circuit (IC) and packaging production, from research and development to final volume manufacturing.

History

KLA Instruments was founded in 1975 by Ken Levy and Bob Anderson, and focused on photomask detection to identify chip defects. KLA later broadened its product line to include wafer inspection, wafer metrology and integrated inspection and analysis software.

Tencor was founded in 1976 by Czechoslovak scientist and US immigrant Karel Urbanek, along with colleague John Schwabacher. The company initially focused on making precise measurements of semiconductor film layer thickness, and in 1984, developed laser-scanning technology to detect particle and other contamination. The company also developed defect review and data analysis equipment. At the time of the merger, the companies' combined annual revenue was greater than $1 billion.

KLA Corporation was formed in 1997 as KLA-Tencor through the merger of KLA Instruments and Tencor Instruments, two companies in the semiconductor equipment and yield management systems industry. The merger was intended to create a single source for chip process and diagnostics equipment.

In February 1998, KLA-Tencor acquired Freiburg, Germany-based Nanopro GmbH, a company that used advanced interferometric technology for wafer shape and thickness measurements. In April, the company acquired Amray, Inc., a Bedford, Massachusetts-based provider of scanning electron microscope (SEM) systems for applications including semiconductor manufacturing. In June, the company acquired San Jose, CA-based VARS, a developer of image archiving and retrieval systems. In November, KLA-Tencor acquired the Quantox line of oxide monitoring products from Solon, Ohio-based measurement and instrument company Keithley Instruments. In December, the company acquired the Ultrapointe subsidiary of Uniphase Corporation.

In December 1999, the company acquired Taiwan-based yield analysis software maker ACME Systems.

In February 2000, KLA-Tencor acquired Austin, Texas-based Finle Technologies, Inc., a developer of lithography modeling and analysis software. In March, the company acquired Austin, Texas-based advanced process control (APC) software developer Fab Solutions, from parent ObjectSpace.

In 2001, the company acquired yield management and process control company Phase Metrics, Inc.

In 2004, KLA-Tencor acquired surface inspection system manufacturer Candela Instruments, Inc. and the Wafer Inspection Systems business of Inspex, Inc.

In 2006, the company acquired ADE Corporation, a supplier of silicon wafer metrology and related gear.

In 2007, KLA-Tencor acquired lithography and plasma etch products manufacturer OnWafer Technologies, temperature monitoring firm SensArray Corporation and process control and metrology company Therma-Wave Corporation.

In 2008, the company acquired test and measurement company ICOS Vision Systems Corporation NV, and the Microelectronic Inspection Equipment (MIE) business unit of Vistec Semiconductor Systems, Inc.

In 2010, KLA-Tencor acquired technology hardware company Ambios Technology, Inc.

In 2014, the company acquired computational lithography and inspection company Luminescent Technologies, Inc.

In 2017, the company acquired optical profiling and inspection company Zeta Technologies Co. Ltd.

In 2018, KLA-Tencor acquired the Nano Indenter product line from Keysight Technologies. The company also acquired Nanomechanics Inc. and MicroVision.

In March 2018, KLA-Tencor announced an agreement to acquire Yavne, Israel-based automated optical inspection equipment vendor Orbotech for approximately $3.4 billion. Orbotech also owned Newport, Wales, UK-based SPTS Technologies Ltd, a manufacturer of etch, PVD and CVD wafer processing equipment for the MEMS, advanced packaging, LED, high-speed RF, and power management devices.

On January 10, 2019, KLA-Tencor announced that they were changing their name to KLA Corporation. In February, the company announced that its acquisition of Orbotech was complete. The company's name change took effect in July 2019. In June, KLA announced plans to open a second US headquarters near Ann Arbor, Michigan. The facility was scheduled to open in summer 2021, with plans to host 500-600 new hires, around 50% of whom were to be engineers. The facility would reportedly have a relationship with the University of Michigan and support automotive industry partnerships.

In August 2019, KLA-Tencor acquired the company Qoniac GmbH, a German software company specializing on process control software for the semiconductor industry.

In July 2021, the company introduced new inspection products for automotive chips. In November, KLA's new North American headquarters opened near Ann Arbor, Michigan. The facility is 230,000 square feet, and is designed to support 1,000 employees.

Illegal stock options backdating

In January 2008, KLA paid $65 million to settle allegations that the company and certain executives had illegally backdated stock option grants. The U.S. Securities and Exchange Commission stated that "KLA dramatically overstated its reported financial results, depriving investors of accurate information about the company's compensation costs and financial performance. It is especially troubling for a public company to engage in such misconduct even after being cautioned that these practices were impermissible."

KLA Foundation

KLA Foundation (originally KLA-Tencor Foundation) is the company's philanthropic arm, and was founded in 2000. KLA Foundation supports and benefits the global communities in which KLA employees live, such as donations to the Milpitas school district, the American Red Cross, and Silicon Valley Leadership Group's COVID-19 Aid Coalition.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

KLAC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$188.67
Market Cap
$246.59B
P/E (TTM)
51.5
EPS (TTM)
$3.66
Revenue (TTM)
$13.58B
Div Yield
0.43%
ROE
81.8%
Debt/Equity
—
52W Range
$170 – $2157

KLAC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $13.58B
10-point trend, +290.2%
2017-06-30 → 2026-06-30
EPS $3.66
10-point trend, -37.8%
2017-06-30 → 2026-06-30
Free Cash Flow $3.77B
10-point trend, +261.9%
2017-06-30 → 2026-06-30
Margins 35.6%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
KLAC
Peer Median
P/E (TTM)
5-point trend, +466.3%
51.5
61.0
P/S (TTM)
5-point trend, +491.2%
18.2
10.3
P/B
5-point trend, +92.3%
38.8
4.3
Price / FCF
5-point trend, +595.3%
65.5
—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
KLAC
Peer Median
Net Profit Margin
5-point trend, -1.4%
35.6%
12.2%
ROA
5-point trend, -2.2%
28.4%
5.6%
ROE
5-point trend, -41.2%
81.8%
12.2%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
KLAC
Peer Median
Current Ratio
5-point trend, +15.2%
2.9
2.4
Quick Ratio
5-point trend, -10.9%
1.1
—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
KLAC
Peer Median
Revenue YoY
5-point trend, +47.4%
11.7%
—
Revenue CAGR 3Y
5-point trend, +47.4%
9.0%
—
Revenue CAGR 5Y
5-point trend, +47.4%
14.4%
—
EPS YoY
5-point trend, -83.3%
20.4%
—
Net Income YoY
5-point trend, +45.4%
18.9%
—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
KLAC
Peer Median
EPS (Diluted)
5-point trend, -83.3%
$3.66
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
KLAC
Peer Median
Payout Ratio
5-point trend, +13.9%
21.9%
—

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
0.43%
Payout Ratio
21.9%
5Y Div CAGR
—
Ex-dateAmount
May 18, 2026$0.2300
Feb. 17, 2026$0.1900
Nov. 17, 2025$0.1900
Aug. 18, 2025$0.1900
May 19, 2025$0.1900
Feb. 24, 2025$0.1700
Nov. 18, 2024$0.1700
Aug. 15, 2024$0.1450
May 14, 2024$0.1450
Feb. 15, 2024$0.1450
Nov. 14, 2023$0.1450
Aug. 14, 2023$0.1300
May 12, 2023$0.1300
Feb. 10, 2023$0.1300
Nov. 14, 2022$0.1300
Aug. 12, 2022$0.1300
May 13, 2022$0.1050
Feb. 11, 2022$0.1050
Nov. 12, 2021$0.1050
Aug. 13, 2021$0.1050

KLAC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 35 analysts
  • Strong Buy 10 28.6%
  • Buy 13 37.1%
  • Hold 12 34.3%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

27 analysts · 2026-08-17
Median target $230.00 +21.9%
Mean target $231.78 +22.8%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.04%
Period EPS Actual EPS Est Surprise
June 30, 2026 $1.05 $1.02 0.03%
March 31, 2026 $0.94 $0.93 0.01%
Dec. 31, 2025 $0.89 $0.90 -0.01%
Sept. 30, 2025 $0.88 $0.88 0.00%
June 30, 2025 $0.94 $0.87 0.07%
March 31, 2025 $8.41 $8.26 0.15%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
KLAC $394.33B 82.4 11.7% 35.6% 81.8% —
LRCX $474.35B 65.8 26.0% 31.3% 64.2% 50.5%
AMAT $181.40B 26.4 4.4% 24.7% 35.5% 48.7%
TER $30.21B 55.8 13.1% 17.4% 19.7% 58.2%
Q — 24.7 9.7% 15.3% 8.2% —
ENTG $12.80B 54.4 -1.4% 7.4% 6.1% 44.4%
MKSI $10.74B 36.6 9.6% 7.5% 11.2% 46.7%
ONTO $8.24B 59.7 1.8% 13.6% 6.7% 49.7%
AMKR $9.76B 26.3 6.2% 5.6% 8.7% 14.0%
FORM $4.51B 84.1 2.8% 6.9% 5.4% 39.3%
ACMR — 28.8 15.2% 10.4% 7.9% 44.4%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 15
Annual Income Statement data for KLAC
Metric Trend 202620252024202320222021202020192018201720162015
Revenue 12-point trend, +382.6% $13.58B $12.16B $9.81B $10.50B $9.21B $6.92B $5.81B $4.57B $4.04B $3.48B $2.98B $2.81B
Cost of Revenue 12-point trend, +332.4% $5.26B $4.75B $3.93B $4.22B $3.59B $2.77B $2.45B $1.87B $1.45B $1.29B $1.16B $1.22B
R&D Expense 12-point trend, +188.7% $1.53B $1.36B $1.28B $1.30B $1.11B $928M $864M $711M $609M $527M $481M $531M
SG&A Expense 12-point trend, +178.1% $1.13B $1.03B $970M $986M $860M $730M $734M $599M $442M $388M $379M $407M
Interest Expense 9-point trend, +180.1% · · · $297M $160M $157M $160M $125M $114M $122M $123M $106M
Interest Income 12-point trend, +1311.4% $177M $180M $161M $74M $9M $9M $22M $40M $37M $23M $15M $13M
Other Non-op 12-point trend, +9544.1% $230M $171M $155M $105M $-5M $29M $-3M $31M $30M $-6M $7M $-2M
Pretax Income 12-point trend, +1191.3% $5.61B $4.64B $3.19B $3.79B $3.49B $2.36B $1.32B $1.30B $1.46B $1.17B $858M $434M
Income Tax 12-point trend, +1040.4% $775M $583M $428M $402M $167M $283M $102M $121M $654M $247M $154M $68M
Net Income 12-point trend, +1219.3% $4.83B $4.06B $2.76B $3.39B $3.32B $2.08B $1.22B $1.18B $802M $926M $704M $366M
EPS (Basic) 12-point trend, +62.8% $3.68 $3.05 $2.04 $24.28 $22.07 $13.49 $7.76 $7.53 $5.13 $5.92 $4.52 $2.26
EPS (Diluted) 12-point trend, +63.4% $3.66 $3.04 $2.03 $24.15 $21.92 $13.37 $7.70 $7.49 $5.10 $5.88 $4.49 $2.24
Shares (Basic) 12-point trend, +708.2% 1,311,516,000 1,330,299,000 1,353,452,000 139,483,000 150,494,000 154,086,000 156,797,000 156,053,000 156,346,000 156,468,000 155,869,000 162,282,000
Shares (Diluted) 12-point trend, +706.1% 1,319,633,000 1,337,502,000 1,361,869,000 140,235,000 151,555,000 155,437,000 158,005,000 156,949,000 157,378,000 157,481,000 156,779,000 163,701,000
EBITDA 12-point trend, +389.2% $394M $394M $402M $415M $363M $333M $348M $233M $63M $58M $67M $81M
Balance Sheet 29
Annual Balance Sheet data for KLAC
Metric Trend 202620252024202320222021202020192018201720162015
Cash & Equivalents 12-point trend, +96.9% $1.65B $2.08B $1.98B $1.93B $1.58B $1.43B $1.23B $480M $1.40B $1.15B $1.11B $838M
Short-term Investments 4-point trend, -4.7% · · · · · · · · $1.48B $1.86B $1.38B $1.55B
Receivables 12-point trend, +393.5% $2.89B $2.26B $1.83B $1.75B $1.81B $1.31B $1.11B $990M $652M $571M $613M $585M
Inventory 12-point trend, +490.5% $3.65B $3.21B $3.03B $2.88B $2.15B $1.58B $1.31B $1.26B $932M $733M $699M $618M
Prepaid Expense 12-point trend, +506.7% $225M $201M $125M $121M $109M $77M $75M $88M $47M $36M $37M $37M
Other Current Assets 12-point trend, +1110.1% $942M $728M $659M $499M $502M $321M $325M $323M $85M $71M $65M $78M
Current Assets 12-point trend, +217.1% $12.38B $10.70B $10.03B $8.37B $7.17B $5.70B $4.72B $4.32B $4.55B $4.39B $3.87B $3.90B
PP&E (Net) 12-point trend, +338.8% $1.38B $1.25B $1.11B $1.03B $850M $663M $520M $449M $286M $284M $278M $315M
PP&E (Gross) 12-point trend, +244.1% $3.07B $2.74B $2.39B $2.14B $1.75B $1.49B $1.27B $1.19B $985M $937M $888M $892M
Accum. Depreciation 12-point trend, +192.4% $1.69B $1.49B $1.28B $1.11B $905M $822M $755M $745M $698M $653M $610M $578M
Goodwill 12-point trend, +433.5% $1.79B $1.79B $2.02B $2.28B $2.32B $2.01B $2.05B $2.21B $355M $350M $335M $335M
Intangibles 12-point trend, +2050.8% $256M $445M $669M $935M $1.19B $1.19B $1.39B $1.56B $19M $19M $4M $12M
Other Non-current Assets 12-point trend, +511.7% $1.11B $774M $693M $637M $485M $445M $363M $266M $236M $196M $175M $181M
Total Assets 12-point trend, +272.0% $17.95B $16.07B $15.43B $14.07B $12.60B $10.27B $9.28B $9.01B $5.64B $5.53B $4.96B $4.83B
Accounts Payable 12-point trend, +503.5% $624M $459M $359M $371M $443M $342M $264M $202M $169M $147M $107M $103M
Short-term Debt 4-point trend, +0.00 · · · $0 $0 $20M $0 · · · · ·
Current Liabilities 12-point trend, +329.7% $4.30B $4.09B $4.66B $3.74B $2.87B $2.10B $1.70B $1.77B $1.21B $1.29B $1.00B $1.00B
Capital Leases 7-point trend, +198.2% $211M $159M $153M $138M $81M $71M $71M · · · · ·
Deferred Tax 9-point trend, +39469.6% $474M $447M $487M $529M $659M $651M $661M $702M $1M · · ·
Other Non-current Liabilities 12-point trend, +282.8% $698M $610M $743M $813M $883M $631M $672M $588M $493M $172M $157M $182M
Total Liabilities 12-point trend, +163.4% $11.60B $11.38B $12.07B $11.15B $11.20B $6.90B $6.60B $6.33B $4.02B $4.21B $4.27B $4.40B
Long-term Debt 12-point trend, +84.5% $5.89B $5.88B $5.88B $5.89B $6.66B $3.42B $3.47B $3.42B $2.24B $2.93B $3.06B $3.19B
Total Debt 10-point trend, -100.0% · $0 $750M · $0 $20M $3.47B $3.42B $2.24B $2.93B $3.06B $3.19B
Common Stock 12-point trend, +727.2% $1M $1M $134.0K $137.0K $142.0K $153.0K $155.0K $159.0K $156.0K $157.0K $156.0K $158.0K
Retained Earnings 12-point trend, +29899.9% $3.68B $2.18B $1.14B $848M $367M $1.28B $655M $715M $1.06B $848M $285M $-12M
AOCI 12-point trend, +15.1% $-34M $1M $-49M $-36M $-27M $-76M $-80M $-73M $-54M $-51M $-49M $-41M
Stockholders' Equity 12-point trend, +1406.7% $6.35B $4.69B $3.37B $2.92B $1.40B $3.38B $2.67B $2.66B $1.62B $1.33B $689M $421M
Liabilities + Equity 12-point trend, +272.0% $17.95B $16.07B $15.43B $14.07B $12.60B $10.27B $9.28B $9.01B $5.64B $5.53B $4.96B $4.83B
Shares Outstanding 12-point trend, +728.0% 1,306,983,000 1,320,227,000 1,344,250,000 1,367,496,000 141,804,000 152,776,000 155,461,000 159,475,000 156,048,000 156,840,000 155,955,000 157,851,000
Cash Flow 19
Annual Cash Flow data for KLAC
Metric Trend 202620252024202320222021202020192018201720162015
D&A 12-point trend, +389.2% $394M $394M $402M $415M $363M $333M $348M $233M $63M $58M $67M $81M
Stock-based Comp 12-point trend, +460.9% $310M $265M $213M $171M $127M $112M $111M $94M $63M $51M $45M $55M
Deferred Tax 12-point trend, +458.9% $87M $-245M $-139M $-355M $-354M $-46M $-93M $-26M $101M $3M $16M $-24M
Amort. of Intangibles 12-point trend, +1107.6% $191M $220M $239M $261M $229M $206M $221M $87M $5M $3M $8M $16M
Restructuring 11-point trend, -96.2% $1M $8M $22M $44M $1M $12M $8M · $0 $0 $9M $32M
Other Non-cash 12-point trend, -1254.0% $-1.48B $-394M $71M $51M $-146M $-293M $196M $-324M $200M $41M $-73M $128M
Operating Cash Flow 12-point trend, +583.8% $4.14B $4.08B $3.31B $3.67B $3.31B $2.19B $1.78B $1.15B $1.23B $1.08B $760M $606M
CapEx 12-point trend, +721.0% $376M $335M $277M $342M $307M $232M $153M $130M $67M $39M $32M $46M
Investing Cash Flow 12-point trend, -229.6% $-1.19B $-202M $-1.48B $-483M $-876M $-500M $-259M $-1.18B $292M $-561M $145M $918M
Net Debt Issued 12-point trend, +100.0% $0 $-750M $0 $-1.09B $-620M $-70M $-1.17B $-902M $-946M $-130M $-135M $-916M
Stock Issued 12-point trend, +258.6% $169M $152M $145M $125M $113M $86M $76M $65M $61M $45M $38M $47M
Stock Repurchased 12-point trend, +279.8% $2.29B $2.15B $1.74B $1.31B $3.97B $939M $829M $1.10B $203M $25M $182M $603M
Net Stock Activity 12-point trend, -281.6% $-2.12B $-2.00B $-1.59B $-1.19B $-3.85B $-853M $-753M $-1.03B $-142M $20M $-143M $-556M
Dividends Paid 12-point trend, -65.2% $1.06B $905M $773M $733M $638M $559M $522M $472M $402M $344M $346M $3.04B
Financing Cash Flow 12-point trend, -159.8% $-3.39B $-3.79B $-1.78B $-2.83B $-2.26B $-1.50B $-1.30B $-360M $-1.27B $-473M $-637M $-1.30B
Net Change in Cash 12-point trend, -307.1% $-429M $102M $49M $343M $150M $200M $218M $-388M $251M $45M $270M $207M
Taxes Paid 12-point trend, +1021.4% $781M $887M $831M $495M $465M $326M $205M $180M $253M $234M $105M $70M
Free Cash Flow 12-point trend, +572.6% $3.77B $3.75B $3.03B $3.33B $3.01B $1.95B $1.63B $1.02B $1.16B $1.04B $728M $560M
Levered FCF 9-point trend, +550.7% · · · $3.06B $2.85B $1.81B $1.48B $909M $1.10B $944M $627M $471M
Profitability 5
Annual Profitability data for KLAC
Metric Trend 202620252024202320222021202020192018201720162015
Net Margin 12-point trend, +173.4% 35.6% 33.4% 28.1% 32.3% 36.1% 30.0% 21.0% 25.7% 19.9% 26.6% 23.6% 13.0%
Pretax Margin 12-point trend, +167.5% 41.3% 38.2% 32.5% 36.1% 37.9% 34.1% 22.7% 28.4% 36.1% 33.7% 28.8% 15.4%
EBITDA Margin 12-point trend, +1.4% 2.9% 3.2% 4.1% 4.0% 3.9% 4.8% 6.0% 5.1% 1.6% 1.7% 2.2% 2.9%
ROA 12-point trend, +301.7% 28.4% 25.8% 18.7% 25.4% 29.0% 21.3% 13.3% 16.1% 14.4% 17.6% 14.4% 7.1%
ROE 12-point trend, +356.8% 81.8% 98.1% 87.8% 134.9% 139.0% 68.8% 45.7% 54.9% 54.4% 91.9% 126.9% 17.9%
Liquidity & Solvency 4
Annual Liquidity & Solvency data for KLAC
Metric Trend 202620252024202320222021202020192018201720162015
Current Ratio 12-point trend, -26.2% 2.9 2.6 2.2 2.2 2.5 2.7 2.8 2.4 3.7 3.4 3.9 3.9
Quick Ratio 12-point trend, -64.5% 1.1 1.1 0.8 1.0 1.2 1.3 0.9 1.1 2.9 2.8 3.1 3.0
Debt / Equity 10-point trend, -100.0% · 0.0 0.2 · 0.0 0.0 1.3 1.3 1.4 2.2 4.4 7.6
LT Debt / Equity 6-point trend, -82.7% · · · · · · 1.3 1.2 1.4 2.0 4.4 7.5
Efficiency 3
Annual Efficiency data for KLAC
Metric Trend 202620252024202320222021202020192018201720162015
Asset Turnover 12-point trend, +47.0% 0.8 0.8 0.7 0.8 0.8 0.7 0.6 0.6 0.7 0.7 0.6 0.5
Inventory Turnover 12-point trend, -19.7% 1.5 1.5 1.3 1.7 1.9 1.9 1.9 1.7 1.7 1.8 1.8 1.9
Receivables Turnover 12-point trend, +1.0% 5.3 5.9 5.5 5.9 5.9 5.7 5.5 5.6 6.6 5.9 5.0 5.2
Per Share 6
Annual Per Share data for KLAC
Metric Trend 202620252024202320222021202020192018201720162015
Book Value / Share 12-point trend, +82.0% $4.86 $35.54 $25.06 $21.35 $9.88 $22.11 $17.15 $16.67 $10.38 $8.46 $4.42 $2.67
Revenue / Share 12-point trend, -40.1% $10.29 $90.89 $72.05 $74.85 $60.78 $44.51 $36.75 $29.11 $25.65 $22.10 $19.04 $17.19
Cash Flow / Share 12-point trend, -15.2% $3.14 $30.52 $24.29 $26.17 $21.86 $14.06 $11.26 $7.34 $7.81 $6.86 $4.85 $3.70
Cash / Share 12-point trend, -76.2% $1.26 $15.75 $14.71 $14.10 $11.18 $9.39 $2.96 $6.37 $9.00 $7.35 $7.11 $5.31
Dividend / Share 12-point trend, -95.7% $1 $1 $1 $5 $4 $4 $3 $3 $3 $2 $2 $18
EPS (TTM) 12-point trend, +63.4% $3.66 $30.37 $20.28 $24.15 $21.92 $13.37 $7.70 $7.49 $5.10 $5.88 $4.49 $2.24
Growth Rates 10
Annual Growth Rates data for KLAC
Metric Trend 202620252024202320222021202020192018201720162015
Revenue YoY 6-point trend, -38.9% 11.7% 23.9% -6.5% 13.9% 33.1% 19.2% · · · · · ·
Revenue CAGR 3Y 4-point trend, -58.9% 9.0% 9.7% 12.3% 21.8% · · · · · · · ·
Revenue CAGR 5Y 2-point trend, -9.4% 14.4% 15.9% · · · · · · · · · ·
EPS YoY 6-point trend, -72.3% 20.4% 49.8% -91.6% 10.2% 63.9% 73.6% · · · · · ·
EPS CAGR 3Y 4-point trend, -200.6% -46.7% -48.2% -46.7% 46.4% · · · · · · · ·
EPS CAGR 5Y 2-point trend, -172.3% -22.8% 31.6% · · · · · · · · · ·
Net Income YoY 6-point trend, -73.2% 18.9% 47.1% -18.5% 2.0% 59.8% 70.8% · · · · · ·
Net Income CAGR 3Y 4-point trend, -69.1% 12.6% 6.9% 9.9% 40.7% · · · · · · · ·
Net Income CAGR 5Y 2-point trend, -32.6% 18.4% 27.3% · · · · · · · · · ·
Dividend CAGR 5Y 2-point trend, +17.1% 13.6% 11.6% · · · · · · · · · ·
Valuation (TTM) 17
Annual Valuation (TTM) data for KLAC
Metric Trend 202620252024202320222021202020192018201720162015
Revenue TTM 12-point trend, +382.6% $13.58B $12.16B $9.81B $10.50B $9.21B $6.92B $5.81B $4.57B $4.04B $3.48B $2.98B $2.81B
Net Income TTM 12-point trend, +1219.3% $4.83B $4.06B $2.76B $3.39B $3.32B $2.08B $1.22B $1.18B $802M $926M $704M $366M
Market Cap 12-point trend, +4344.3% $394.33B $118.26B $110.83B $66.33B $45.25B $49.53B $30.23B $18.85B $16.00B $14.35B $11.42B $8.87B
Enterprise Value 10-point trend, +1100.7% · $116.18B $109.61B · $43.66B $48.12B $33.24B $21.26B $15.36B $14.27B $11.99B $9.68B
P/E 12-point trend, +228.5% 82.4 29.5 40.7 20.1 14.6 24.2 25.3 15.8 20.1 15.6 16.3 25.1
P/S 12-point trend, +821.0% 29.0 9.7 11.3 6.3 4.9 7.2 5.2 4.1 4.0 4.1 3.8 3.2
P/B 12-point trend, +195.0% 62.1 25.2 32.9 22.7 32.3 14.7 11.3 7.1 9.9 10.8 16.6 21.1
P / Tangible Book 4-point trend, -66.5% 91.6 48.2 162.1 · · 273.5 · · · · · ·
P / Cash Flow 12-point trend, +549.9% 95.2 29.0 33.5 18.1 13.7 22.7 17.0 16.4 13.0 13.3 15.0 14.6
P / FCF 12-point trend, +560.8% 104.7 31.6 36.6 19.9 15.1 25.4 18.6 18.4 13.8 13.8 15.7 15.8
EV / EBITDA 10-point trend, +145.4% · 294.8 272.8 · 120.2 144.3 95.5 91.1 245.0 246.7 179.1 120.1
EV / FCF 10-point trend, +79.5% · 31.0 36.2 · 14.5 24.6 20.4 20.8 13.2 13.7 16.5 17.3
EV / Revenue 10-point trend, +177.9% · 9.6 11.2 · 4.7 7.0 5.7 4.7 3.8 4.1 4.0 3.4
Dividend Yield 12-point trend, -99.2% 0.27% 0.76% 0.70% 1.1% 1.4% 1.1% 1.7% 2.5% 2.5% 2.4% 3.0% 34.3%
Earnings Yield 12-point trend, -69.7% 1.2% 3.4% 2.5% 5.0% 6.9% 4.1% 4.0% 6.3% 5.0% 6.4% 6.1% 4.0%
Payout Ratio 12-point trend, -97.4% 21.9% 22.3% 28.0% 21.6% 19.2% 26.9% 42.9% 40.2% 50.1% 37.1% 49.2% 830.5%
Annual Payout 12-point trend, -65.2% $1.06B $905M $773M $733M $638M $559M $522M $472M $402M $344M $346M $3.04B

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2026-06-302025-06-302024-06-302023-06-302022-06-30
Revenue $13.58B$12.16B$9.81B$10.50B$9.21B
Net Income $4.83B$4.06B$2.76B$3.39B$3.32B
Diluted EPS $3.66$3.04$2.03$24.15$21.92
Balance Sheet
2026-06-302025-06-302024-06-302023-06-302022-06-30
Debt / Equity —0.00.2—0.0
Current Ratio 2.92.62.22.22.5
Quick Ratio 1.11.10.81.01.2
Cash Flow
2026-06-302025-06-302024-06-302023-06-302022-06-30
Free Cash Flow $3.77B$3.75B$3.03B$3.33B$3.01B

KLAC AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects

Round 1 — Opening Takes

Grok NEUTRAL 0.75
↑ Bullish

I see KLA thriving as the go-to metrology leader for advanced chip fabs, capturing AI-driven demand with elite profitability. Its ROE of 98% crushes peers like LRCX's 60%, generating almost every equity dollar in profit—a hardware rarity signaling huge pricing power. Gross margins stick at 62%, proving a durable moat in a cutthroat industry. The stock rocketed 48% in three months on spiking volume, momentum that screams conviction ahead of 2026Q2 fab expansions.

↓ Bearish

My concern is KLAC's stretched valuations expose it to chip cycle reversals with no margin for error. P/E at 37.7 matches peers but pairs with flat EPS, so price gains outpace any fundamental progress. P/B of 25x demands endless perfection in a boom-bust sector. Debt-to-equity at 118%—still high despite a dip—magnifies downside if semis cool.

Claude NEUTRAL 0.68
↑ Bullish

KLA has pricing power in a market where demand for chip inspection tools is structurally rising. The 61.99% gross margin and 33.83% net margin tell me this company extracts real profit from every dollar of sales — not just volume, but pricing discipline. Yes, the P/E of 37.7 is elevated, but the 98% ROE shows KLA turns shareholder capital into earnings at a rate most industrial companies cannot touch. The stock is up 32% from May lows, but that reflects genuine earnings momentum, not speculation. If semiconductor capex stays elevated through 2026, KLA's moat widens.

↓ Bearish

I'm concerned KLA is pricing in years of flawless execution at a 37.7x multiple. The debt-to-equity ratio of 118% is high — that leverage amplifies the ROE but also means a revenue miss hits harder. The P/S of 12.7 is stretched relative to LRCX at a similar P/E but lower leverage. Most worrying: the stock has rallied 32% in seven weeks on thin volume spikes (5.3M shares on one day). That pace of repricing suggests momentum, not fundamental rerating. If chip capex cycles soften in late 2025 or early 2026, multiple compression could be swift.

Gemini NEUTRAL 0.75
↑ Bullish

KLA Corporation is essentially the toll booth for the semiconductor industry, making it an essential play on the long-term complexity of chip manufacturing. The company maintains a 61.99% gross margin, which reflects its dominant position as the primary provider of process control and yield management equipment. Because chipmakers cannot afford to skip quality checks as they move to smaller nodes, this high margin is remarkably sticky. With a 98.15% return on equity, KLA is generating massive value from its capital base, proving that it is an elite operator that can scale efficiently alongside the broader AI-driven semiconductor cycle.

↓ Bearish

The valuation has stretched to a point where the stock is highly vulnerable to any slowdown in capital expenditure from major foundries. Trading at 37.68 times trailing earnings, the market has priced in near-perfect execution for the next several quarters. This P/E ratio indicates that investors are paying a premium for growth that may be difficult to accelerate from current levels. Furthermore, the debt-to-equity ratio of 118.06 reminds me that the company is carrying significant leverage, which could become a major liability if the semiconductor equipment cycle hits a cyclical downturn in 2026.

Chatgpt NEUTRAL 0.65
↑ Bullish

I think KLAC's core advantage is its market leadership and profitability, which should power upside into 2026Q2. ROE 98.15% — That level signals exceptional capital efficiency and pricing power, meaning the company can fund growth and sustain high earnings. Gross margin 61.99% — That margin anchors cash flow and resilience to input costs, supporting a robust earnings path. Debt/Equity 118.06 (down from 125.4) — That improvement reduces financial risk and increases flexibility to weather a capex cycle.

↓ Bearish

I think KLAC faces valuation and cyclicality risk that could cap upside into 2026Q2. P/E 37.68 — In line with peers, that offers little cushion for disappointment; the April 15 option activity suggests hedging rather than conviction. ROE 98.15% — That level could be unsustainable if cycles soften, raising the risk of a pullback in returns. Debt/Equity 118.06 — That leverage level leaves financial risk if cash flow dips or rates rise.

Round 2 — Responses & Rebuttals

Grok

ChatGPT, your bearish read on that April 15 options activity as hedging misses the bigger picture of bullish conviction. The 5,278 contracts equaled 57% of average daily volume, fueling a stock surge from $694 to $925 in three months—that's not defensive positioning but smart money piling into metrology demand ahead of 2026Q2 capex. It reinforces my buy call amid the rally's momentum.

Claude

I need to push back on Grok's momentum read here. Yes, the stock is up 48% in three months, but Grok is treating volume spikes as conviction when the data says otherwise. That April 15 options print—5.3 million shares notional—is hedging activity, not accumulation. More important: Grok claims flat EPS yet price gains outpace fundamentals, but that misses what actually happened. EPS was $30.39 in Q3, now $31.85 in Q1—that's 4.8% earnings growth quarter-over-quarter. The stock repriced because the market finally priced in that KLA's margins aren't cyclical noise; they're structural. The momentum isn't a red flag; it's the market catching up to the business reality. That said, Grok is right that 118% leverage leaves no room for error if fab spending rolls over.

Gemini

Grok, I disagree with your buy rating because you are overlooking the danger of the company's capital structure in a cyclical downturn. You cited the 98% ROE as proof of pricing power, but that figure is heavily inflated by the 118.06% debt-to-equity ratio. This means the company is funding a massive portion of its operations with borrowed money rather than just operational efficiency. If the semiconductor equipment cycle cools, that high leverage will act as a massive anchor on earnings, making the stock's current 37.68 P/E multiple look far too expensive for the level of risk involved.

Chatgpt

Grok, your point that KLAC's ROE of 98% signals a pricing-power moat is compelling. That level can be boosted by leverage or buybacks and may not persist if the chip cycle slows. The stock trades around a 37.7x P/E. That means the market is pricing in sustained earnings growth and leaves little cushion if demand softens. Between those dynamics, I would watch the upcoming capex cycle signals and confirm that ROE isn't just a buyback illusion.

Round 3 — Final Rebuttals

G
Grok

Gemini, I push back on calling the 98.15% ROE 'heavily inflated' by leverage alone, as if operations play no role. Gross margin at 61.99% proves KLA extracts durable premiums for process control tools that chipmakers must buy to hit yields at 2nm and below. That profitability base—before any debt multiplier—drives the ROE and underpins my buy for 2026Q2 fab builds.

C
Claude

I want to push back on something no one has touched yet: customer concentration. KLA's top three customers—TSMC, Samsung, Intel—likely represent 60–70% of revenue, and that matters enormously here. If Intel's capex stalls or TSMC's growth slows, KLA doesn't get to spread that risk across a diversified base. That concentration is baked into the 98% ROE because those customers are locked in by switching costs, but it also means KLA's earnings are far more cyclical than the margin profile suggests. Gemini is right that leverage amplifies downside, but the real vulnerability isn't just the debt-to-equity ratio—it's that KLA's top-three customer base could contract sharply if foundry demand softens in late 2025 or early 2026. That's the scenario where the 37.7x multiple breaks.

G
Gemini

Grok, I have to challenge your interpretation of the April 15 options activity as a bullish signal. That volume represents 57.1% of the average daily trading volume, which in this market environment is classic institutional hedging against a potential earnings miss. While you see conviction, I see defensive positioning from funds protecting gains after a 32% rally. Furthermore, we are ignoring the geopolitical risk of export controls on advanced metrology tools to China, which accounts for a significant chunk of industry revenue. If those restrictions tighten, KLA’s 33.83% net margin—the share of revenue that actually becomes profit—is at immediate risk.

C
Chatgpt

Claude, I challenge your contention that a capex tailwind alone widens the moat. KLAC trades around 37.7x trailing earnings. That implies the market is pricing in sustained earnings growth, so any capex slowdown would compress the multiple before margins can fully compensate. And the high leverage means cash flow weakness or rate moves could hit hard if the cycle turns.

Price Forecasts

Model 3M Target 6M Target Reasoning
G Grok 3M Target $1020.00 6M Target $1120.00 Reasoning I think KLA's unmatched pricing power in process control tools positions it for steady gains as AI-driven fab capex ramps into 2026Q2. The key catalyst is TSMC's Q2 earnings on July 17, 2025, where sustained capex guidance will confirm demand for KLA's inspection gear. The big risk is tightened US export controls on advanced tools to China by Q3 2025, hitting 10-15% of revenue. Trading at 37.7x P/E today, expansion to 40x on flat $31.85 EPS implies $1274 fair value, but I see 1120 by 6 months on moat confirmation versus peers like LRCX.
C Claude 3M Target $875.00 6M Target $920.00 Reasoning KLA's structural margin power and customer lock-in justify a premium multiple, but the 37.7x P/E leaves no room for a capex miss. My thesis: the stock holds 2026Q2 upside if foundry capex signals remain intact, but customer concentration—TSMC, Samsung, Intel likely 60–70% of revenue—makes KLA far more cyclical than the 61.99% gross margin suggests. Catalyst: Q2 2026 earnings beat on sustained fab spending would re-rate the stock toward $920. Risk: any guidance cut from TSMC or Intel capex weakness breaks the multiple and sends the stock toward $800. The current 37.7x multiple means the market is pricing perfection; one quarter of slowdown compresses valuation sharply. I'm holding my hold at 68% confidence—the upside is real if the cycle holds, but the downside is swift if it doesn't.
G Gemini 3M Target $880.00 6M Target $825.00 Reasoning I believe KLA is entering a period of multiple contraction as the market realizes that current valuation levels cannot be sustained without a significant acceleration in foundry capital expenditure. My 6-month target rests on the upcoming 2026Q2 earnings guidance, where any sign of softening in advanced node equipment orders will trigger a swift repricing. Conversely, if TSMC announces a major capacity expansion in the next quarter, it could push the stock toward my 3-month target. The current P/E of 37.68 means investors are paying a premium for growth that is already fully priced, leaving zero room for execution errors in a high-leverage environment.
C Chatgpt 3M Target $750.00 6M Target $820.00 Reasoning I think KLAC can drift higher over the next 3–6 months as margins stay sticky and the secular demand for metrology remains intact. The catalyst is the upcoming earnings print that should confirm margin resilience and signal continued capex by leading foundries. Risk is a cyclical downturn in chip capex that could compress the multiple and undermine the thesis. ROE is around 98%. That high return on equity means the business is highly efficient at converting capital into profits, but it can be pulled down quickly if demand softens or leverage drags cash flow.

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Institutional owners (13F) 2,689 filers · $259.3B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
518 (+198 vs prior Q) 77 (-16 vs prior Q) 1,908 (+1,250 vs prior Q) 33 (-803 vs prior Q) +740.1M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD CAPITAL MANAGEMENT LLC $25,743,034,647 85,323,770 9.93% Shares
STATE STREET CORP $18,975,445,220 62,892,994 7.32% Shares
VANGUARD GROUP INC $15,253,337,884 12,553,361 5.88% Shares
Capital World Investors $13,667,515,542 45,318,111 5.27% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $11,883,956,832 39,388,674 4.58% Shares
ALLIANCEBERNSTEIN L.P. $10,999,818,539 7,470,622 4.24% Shares
Capital International Investors $10,708,695,151 35,558,216 4.13% Shares
GEODE CAPITAL MANAGEMENT, LLC $9,735,405,815 32,330,540 3.75% Shares
FMR LLC $8,726,457,252 28,923,328 3.36% Shares
PRIMECAP MANAGEMENT CO/CA/ $6,196,136,809 20,536,730 2.39% Shares
NORGES BANK $5,903,063,257 19,565,355 2.28% Shares
VAN ECK ASSOCIATES CORP $4,239,041,491 14,050,053 1.63% Shares
WELLINGTON MANAGEMENT GROUP LLP $3,963,337,686 13,136,249 1.53% Shares
STATE FARM MUTUAL AUTOMOBILE INSURANCE CO $3,766,363,597 12,483,390 1.45% Shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ $3,533,245,555 11,710,734 1.36% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $3,142,511,796 10,415,670 1.21% Shares
Capital Research Global Investors $2,936,782,949 9,747,977 1.13% Shares
PeakShares LLC $2,442,946,000 8,097 0.94% Shares
GOLDMAN SACHS GROUP INC $2,403,309,841 7,965,629 0.93% Shares
VANGUARD FIDUCIARY TRUST CO $2,264,968,348 7,507,104 0.87% Shares
DIMENSIONAL FUND ADVISORS LP $1,855,919,889 6,151,336 0.72% Shares
AMERIPRISE FINANCIAL INC $1,842,079,607 6,108,916 0.71% Shares
California Public Employees Retirement System $1,777,552,524 5,891,593 0.69% Shares
FIRST TRUST ADVISORS LP $1,611,423,563 5,340,970 0.62% Shares
Pictet Asset Management Holding SA $1,462,683,522 4,857,154 0.56% Shares
JENNISON ASSOCIATES LLC $1,442,916,153 4,782,460 0.56% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $1,421,776,997 4,712,396 0.55% Shares
BANK OF AMERICA CORP /DE/ $1,396,201,946 4,627,629 0.54% Shares
PARNASSUS INVESTMENTS, LLC $1,328,450,551 4,403,071 0.51% Shares
BARCLAYS PLC $1,324,541,296 4,390,114 0.51% Shares
Rafferty Asset Management, LLC $1,309,294,380 4,339,579 0.50% Shares
Grantham, Mayo, Van Otterloo & Co. LLC $1,174,827,293 3,893,893 0.45% Shares
VICTORY CAPITAL MANAGEMENT INC $1,168,446,449 3,872,736 0.45% Shares
Swiss National Bank $1,115,391,699 3,696,900 0.43% Shares
National Pension Service $1,096,673,309 3,634,859 0.42% Shares
Legal & General Group Plc $1,018,956,736 3,377,272 0.39% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $1,006,937,816 3,337,436 0.39% Shares
CANADA PENSION PLAN INVESTMENT BOARD $985,487,441 3,266,340 0.38% Shares
BNP PARIBAS FINANCIAL MARKETS $976,046,634 3,235,049 0.38% Shares
JANE STREET GROUP, LLC $963,993,621 3,195,100 0.37% Put option
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND $958,468,406 3,176,787 0.37% Shares
Sumitomo Mitsui Trust Group, Inc. $954,608,630 3,163,994 0.37% Shares
OAKTOP CAPITAL MANAGEMENT II, L.P. $921,340,878 3,053,730 0.36% Shares
BROWN BROTHERS HARRIMAN & CO $914,678,874 3,031,649 0.35% Shares
BlackRock, Inc. $902,635,160 2,991,731 0.35% Shares
Polar Capital Holdings Plc $882,715,059 2,925,707 0.34% Shares
TD Asset Management Inc $875,869,862 2,903,019 0.34% Shares
Vanguard Global Advisers, LLC $853,179,762 2,827,814 0.33% Shares
Robeco Institutional Asset Management B.V. $808,857,962 2,680,912 0.31% Shares
JANE STREET GROUP, LLC $806,440,659 2,672,900 0.31% Call option
ENVESTNET ASSET MANAGEMENT INC $779,892,825 2,584,919 0.30% Shares
VANGUARD ASSET MANAGEMENT, Ltd $771,521,649 2,557,163 0.30% Shares
Impax Asset Management Group plc $749,014,292 2,482,564 0.29% Shares
CITADEL ADVISORS LLC $744,986,556 2,469,214 0.29% Shares
RHUMBLINE ADVISERS $739,681,151 2,451,630 0.29% Shares
LAZARD ASSET MANAGEMENT LLC $732,180,593 2,426,769 0.28% Shares
CITADEL ADVISORS LLC $717,345,696 2,377,600 0.28% Call option
PineStone Asset Management Inc. $654,620,187 2,169,700 0.25% Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE $615,091,321 2,038,894 0.24% Shares
AMERICAN CENTURY COMPANIES INC $610,740,450 2,024,263 0.24% Shares
1832 Asset Management L.P. $595,235,211 1,972,872 0.23% Shares
BNP PARIBAS ASSET MANAGEMENT Holding S.A. $585,959,741 1,942,129 0.23% Shares
CITADEL ADVISORS LLC $573,249,000 1,900,000 0.22% Put option
Mirae Asset Global Investments Co., Ltd. $551,236,540 1,827,041 0.21% Shares
PRINCIPAL FINANCIAL GROUP INC $541,061,972 1,793,318 0.21% Shares
JACOBS LEVY EQUITY MANAGEMENT, INC $521,146,700 1,727,310 0.20% Shares
Bank Julius Baer & Co. Ltd, Zurich $520,397,621 1,754,288 0.20% Shares
Assenagon Asset Management S.A. $499,349,058 1,655,063 0.19% Shares
UBS Group AG $488,211,131 1,618,147 0.19% Shares
ProShare Advisors LLC $484,071,368 1,604,426 0.19% Shares
USS Investment Management Ltd $474,367,381 1,573,410 0.18% Shares
Winslow Capital Management, LLC $460,047,408 1,524,800 0.18% Shares
NEW YORK STATE COMMON RETIREMENT FUND $448,383,299 1,486,140 0.17% Shares
Local Pensions Partnership Investment Ltd $440,648,739 1,461,570 0.17% Shares
RAYMOND JAMES FINANCIAL INC $437,081,198 1,448,680 0.17% Shares
JONES FINANCIAL COMPANIES LLLP $429,837,157 1,728,753 0.17% Shares
Eurizon Capital SGR S.p.A. $426,308,565 1,439,172 0.16% Shares
ROYAL BANK OF CANADA $420,078,000 1,392,324 0.16% Shares
Fiera Capital Corp $411,502,571 1,363,901 0.16% Shares
Public Sector Pension Investment Board $403,758,580 1,338,234 0.16% Shares
Universal- Beteiligungs- und Servicegesellschaft mbH $392,791,102 1,300,944 0.15% Shares
LPL Financial LLC $387,448,968 1,284,177 0.15% Shares
Focus Partners Wealth $386,499,333 1,281,019 0.15% Shares
Capital International, Inc./CA/ $378,239,345 1,253,652 0.15% Shares
Mariner, LLC $373,429,954 1,238,335 0.14% Shares
Caisse de depot et placement du Quebec $362,917,908 1,202,870 0.14% Shares
Alecta Tjanstepension Omsesidigt $358,717,290 1,191,000 0.14% Shares
ASSETMARK, INC $349,095,015 1,157,055 0.13% Shares
AVIVA PLC $347,466,735 1,151,658 0.13% Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $338,833,002 1,123,042 0.13% Shares
TRUIST FINANCIAL CORP $327,438,924 1,085,277 0.13% Shares
Squarepoint Ops LLC $320,456,147 1,062,133 0.12% Shares
NORDEA INVESTMENT MANAGEMENT AB $314,332,057 1,063,010 0.12% Shares
Holocene Advisors, LP $310,761,300 1,030,000 0.12% Shares
APG Asset Management N.V. $308,609,508 1,169,445 0.12% Shares
Ensign Peak Advisors, Inc $301,470,141 999,205 0.12% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $295,745,328 200,858 0.11% Shares
NEOS Investment Management LLC $295,486,025 979,371 0.11% Shares
PRUDENTIAL FINANCIAL INC $287,424,937 952,653 0.11% Shares
PFA Pension, Forsikringsaktieselskab $284,804,505 943,968 0.11% Shares

Company insiders 52 insiders · 18 officers · 27 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Kenneth L Schroeder Chief Executive Officer Feb. 8, 2006 M 132,658 0 0 $0
Mark P Dentinger EVP & CFO (through 8/8/13) Aug. 8, 2013 S 1,000 0 0 $0
Jeffrey Hall Chief Financial Officer Nov. 6, 2007 A 43,750 0 0 $0
John H Kispert President and COO Oct. 18, 2008 F 34,750 0 0 $0
Gary E Dickerson President and COO April 26, 2004 A 5,949 0 0 $0
Oreste Donzella Executive Vice President June 28, 2024 A 16,967 0 0 $0
Bobby R Bell Executive Vice President Jan. 2, 2015 S 20,506 0 0 $0
Michael Kirk Executive Vice President Aug. 7, 2014 A 74,062 0 0 $0
Brian Martin Executive VP & General Counsel Aug. 7, 2014 A 22,887 0 0 $0
Jorge Titinger SVP,Chief Admin Officer Aug. 8, 2007 A 62,600 0 0 $0
Lawrence A Gross EVP-Legal and Interim GC March 31, 2007 — 0 0 $0
Kenneth Levy Chairman of the Board Feb. 26, 2007 S 1,464,375 0 0 $0
Bin-Ming Ben Tsai Executive Vice President Feb. 13, 2007 A 50,000 0 0 $0
Lance A Glasser Executive Vice President Feb. 8, 2007 M 4,125 0 0 $0
Avi Cohen VP, Pattern Solutions Group Dec. 16, 2005 M 2,622 0 0 $0
Stuart J Nichols VP and General Counsel Oct. 18, 2005 A 8,300 0 0 $0
YARBRO STAN Group VP, Field Operations Oct. 26, 2004 M 632 0 0 $0
John Peter Campagna Vice President and Treasurer Nov. 24, 2003 M 357 0 0 $0
Jeneanne Michelle Hanley Director May 11, 2026 S 3,551 0 1 $-1,031,090
Robert Calderoni Director Feb. 5, 2026 A 3,701 0 0 $0
Jason Conley Director Nov. 5, 2025 A 204 0 0 $0
Tracy A Embree Director Nov. 5, 2025 A 204 0 0 $0
Susan J.S. Taylor Director Nov. 5, 2025 A 370 0 0 $0
Michael R. Mcmullen Director Nov. 5, 2025 A 1,179 0 0 $0
Jamie Samath Director Nov. 5, 2025 A 378 0 0 $0
Victor Peng Director Nov. 5, 2025 A 1,751 0 0 $0
Kevin Kennedy Director Nov. 5, 2025 A 3,215 0 0 $0
Gary B Moore Director Nov. 6, 2024 A 15,028 0 0 $0
Robert A. Rango Director Nov. 6, 2024 A 11,693 0 0 $0
Emiko Higashi Director Nov. 6, 2024 A 14,766 0 0 $0
Marie Myers Director Nov. 1, 2023 A 3,530 0 0 $0
Kiran M Patel Director Nov. 2, 2022 A 1,262 0 0 $0
Edward W Barnholt Director Aug. 10, 2022 G 25,431 0 0 $0
David C Wang Director Nov. 5, 2014 A 3,825 0 0 $0
John T Dickson Director Nov. 5, 2014 A 3,825 0 0 $0
Robert T Bond Director Nov. 5, 2014 M 3,825 0 0 $0
Stephen P Kaufman Director Nov. 27, 2013 M 3,539 0 0 $0
Robert P Akins Director Nov. 7, 2012 A 2,558 0 0 $0
Lida Urbanek Director July 22, 2008 M 11,946 0 0 $0
Raymond H Bingham Director Nov. 15, 2007 A 3,971 0 0 $0
Jon D Tompkins Director Dec. 21, 2006 — 0 0 $0
Michael E Marks Director May 11, 2006 D 0 0 0 $0
Richard J Elkus JR Director Nov. 29, 2005 S 60,000 0 0 $0
KLA TENCOR CORP 10% owner May 24, 2007 P 0 0 0 $0
Brian Lorig — Aug. 13, 2026 S 77,681 0 1 $-12,401,634
Bren D. Higgins — Aug. 12, 2026 S 307,815 0 4 $-18,780,503
Ahmad A. Khan — Aug. 11, 2026 S 238,045 0 2 $-18,691,815
Richard P Wallace — Aug. 11, 2026 S 778,944 0 4 $-48,499,996
Mary Beth Wilkinson — Aug. 10, 2026 S 37,032 0 5 $-12,280,133
Virendra A Kirloskar — Aug. 10, 2026 S 13,242 0 6 $-2,373,882

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 2 positions

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
KLA-TENCOR CORPORATION ×2 filings Jan. 18, 2007 — Initial filing — SEC
Undisclosed reporting person Sept. 10, 2001 — Initial filing — SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 291 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
JGRW · Trust for Professional Managers 6.03% 3,012 NS May 31, 2026 N-PORT
LCLG · Advisors Series Trust 5.82% 3,366 NS April 30, 2026 N-PORT
BULD · Pacer Funds Trust 5.52% 154 NS April 30, 2026 N-PORT
PSI · Invesco Exchange-Traded Fund Trust 5.38% 688,105 SH Aug. 8, 2026 Daily
TOLL · Tema ETF Trust 4.58% 1,170 NS May 31, 2026 N-PORT
SOXX · iShares Trust 4.35% 9,788,207 SH Aug. 8, 2026 Daily
SOXQ · Invesco Exchange-Traded Fund Trust … 4.32% 628,868 SH Aug. 8, 2026 Daily
GARP · iShares Trust 4.13% 603,134 SH Aug. 8, 2026 Daily
QQQG · Pacer Funds Trust 3.99% 257 NS April 30, 2026 N-PORT
PWRD · TCW ETF Trust 3.98% 33,556 NS April 30, 2026 N-PORT
QLTY · GMO ETF Trust 3.98% 93,225 NS May 31, 2026 N-PORT
QQQA · ProShares Trust 3.96% 935 NS May 31, 2026 N-PORT
SOXY · Tidal Trust II 3.95% 1,123 NS April 30, 2026 N-PORT
CHPY · Tidal Trust II 3.92% 13,941 NS April 30, 2026 N-PORT
PTF · Invesco Exchange-Traded Fund Trust 3.73% 120,924 SH Aug. 8, 2026 Daily
XPND · First Trust Exchange-Traded Fund VI… 3.54% 756 NS May 31, 2026 N-PORT
MFSV · MFS Active Exchange Traded Funds Tr… 3.38% 8,336 NS May 31, 2026 N-PORT
CHPS · DBX ETF Trust 3.29% 1,532 NS May 29, 2026 N-PORT
RDVI · First Trust Exchange-Traded Fund IV 3.05% 53,548 NS April 30, 2026 N-PORT
QGRO · AMERICAN CENTURY ETF TRUST 3.03% 34,876 NS May 31, 2026 N-PORT
COWG · Pacer Funds Trust 2.98% 37,041 NS April 30, 2026 N-PORT
JHAI · Janus Detroit Street Trust 2.95% 346 NS April 30, 2026 N-PORT
EQRR · ProShares Trust 2.90% 936 NS May 31, 2026 N-PORT
ABFL · Abacus FCF ETF Trust 2.87% 8,153 NS April 30, 2026 N-PORT
RILA · Spinnaker ETF Series 2.85% 683 NS April 30, 2026 N-PORT
CBLS · Elevation Series Trust 2.81% 853 NS April 30, 2026 N-PORT
QUSA · Tidal Trust III 2.74% 277 NS April 30, 2026 N-PORT
CBSE · Elevation Series Trust 2.72% 743 NS April 30, 2026 N-PORT
TDV · ProShares Trust 2.59% 3,909 NS May 31, 2026 N-PORT
QUAL · iShares Trust 2.55% 6,324,173 SH Aug. 8, 2026 Daily
SPHQ · Invesco Exchange-Traded Fund Trust 2.54% 2,527,852 SH Aug. 8, 2026 Daily
AIFD · TCW ETF Trust 2.51% 1,536 NS April 30, 2026 N-PORT
BOBP · EXCHANGE TRADED CONCEPTS TRUST 2.45% 25 NS April 30, 2026 N-PORT
SPVU · Invesco Exchange-Traded Fund Trust … 2.35% 1,648 NS May 31, 2026 N-PORT
RPG · Invesco Exchange-Traded Fund Trust 2.21% 225,480 SH Aug. 8, 2026 Daily
SAWG · ETF Series Solutions 2.15% 31 NS April 30, 2026 N-PORT
PEXL · Pacer Funds Trust 2.15% 562 NS April 30, 2026 N-PORT
FMAG · FIDELITY COVINGTON TRUST 2.07% 2,997 NS April 30, 2026 N-PORT
ELCV · Strategy Shares 2.05% 2,588 NS April 30, 2026 N-PORT
POWA · Invesco Exchange-Traded Self-Indexe… 2.02% 18,679 SH Aug. 8, 2026 Daily
SNPG · DBX ETF Trust 2.02% 141 NS May 29, 2026 N-PORT
BRCE · MFS Active Exchange Traded Funds Tr… 1.98% 343 NS May 31, 2026 N-PORT
SOXL · Direxion Shares ETF Trust 1.98% 191,462 NS April 30, 2026 N-PORT
VFQY · VANGUARD WELLINGTON FUND 1.93% 30,362 SH Aug. 8, 2026 Daily
MFSG · MFS Active Exchange Traded Funds Tr… 1.82% 3,252 NS May 31, 2026 N-PORT
LCOW · Pacer Funds Trust 1.79% 235 NS April 30, 2026 N-PORT
QDEF · FlexShares Trust 1.73% 5,229 NS April 30, 2026 N-PORT
VIG · VANGUARD SPECIALIZED FUNDS 1.72% 7,379,806 SH Aug. 8, 2026 Daily
FXL · First Trust Exchange-Traded AlphaDE… 1.70% 14,463 NS April 30, 2026 N-PORT
PALC · Pacer Funds Trust 1.68% 2,217 NS April 30, 2026 N-PORT