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KLA (KLAC)

KLA develops industry-leading equipment and services that enable innovation throughout the electronics industry. We provide advanced process control and process-enabling solutions for manufacturing wafers and reticles, integrated circuits, packaging, printed circuit boards and flat panel displays. In close collaboration with leading customers across the globe, our expert teams of physicists, engineers, data scientists and problem-solvers design solutions that move the world forward.

Company profile

Ticker
KLAC
Exchange
CEO
Richard Wallace
Employees
Incorporated
Location
Fiscal year end
Former names
KLA INSTRUMENTS CORP, KLA TENCOR CORP
SEC CIK
Subsidiaries
International Sales & Business, Inc. • KLA-Tencor China Corporation • KLA-Tencor International Corporation • VLSI Standards, Inc. • Belize Holdings, LLC • KLA-Tencor Asia-Pac Distribution Corporation • KT Venture Group, L.L.C. • KT Venture Group • KT Venture Mgmt., LLC • Dino Acquisition Technology L.L.C. ...
IRS number
42564110

KLAC stock data

Calendar

29 Apr 22
20 May 22
30 Jun 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jun 21 Jun 20 Jun 19 Jun 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.42B 1.42B 1.42B 1.42B 1.42B 1.42B
Cash burn (monthly) 80.63M 3.08M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 133.69M 5.11M n/a n/a n/a n/a
Cash remaining 1.28B 1.41B n/a n/a n/a n/a
Runway (months of cash) 15.9 457.6 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 Apr 22 Wallace Richard P Common Stock Payment of exercise Dispose F No No 331.47 20,547 6.81M 231,149
20 Mar 22 Lorig Brian Common Stock Payment of exercise Dispose F No No 365.05 3,175 1.16M 30,740
20 Mar 22 Oreste Donzella Common Stock Payment of exercise Dispose F No No 365.05 3,024 1.1M 35,481
20 Mar 22 Khan Ahmad A. Common Stock Payment of exercise Dispose F No No 365.05 7,534 2.75M 72,052
20 Mar 22 Bren D. Higgins Common Stock Payment of exercise Dispose F No No 365.05 6,849 2.5M 65,277
85.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 1030 1084 -5.0%
Opened positions 103 209 -50.7%
Closed positions 157 71 +121.1%
Increased positions 409 390 +4.9%
Reduced positions 355 336 +5.7%
13F shares Current Prev Q Change
Total value 46.6B 56.59B -17.6%
Total shares 127.55M 131.62M -3.1%
Total puts 981.98K 1.2M -18.5%
Total calls 887.11K 1.24M -28.2%
Total put/call ratio 1.1 1.0 +13.6%
Largest owners Shares Value Change
Vanguard 13.55M $4.96B +0.3%
BLK Blackrock 11.6M $4.25B +2.4%
Capital International Investors 7.48M $2.74B -0.6%
Primecap Management 7.36M $2.7B -5.2%
STT State Street 6.24M $2.28B -1.2%
TROW T. Rowe Price 4.62M $1.69B -12.9%
Wellington Management 3.19M $1.17B -10.1%
FMR 2.9M $1.06B -11.7%
Geode Capital Management 2.61M $953.68M +3.7%
JHG Janus Henderson 2.61M $954.54M -20.0%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -1.39M EXIT
Manufacturers Life Insurance Company, The 0 -821.76K EXIT
TROW T. Rowe Price 4.62M -683.55K -12.9%
JHG Janus Henderson 2.61M -650.27K -20.0%
1832 Asset Management 10.52K -573.78K -98.2%
First Trust Advisors 921.42K +517.87K +128.3%
Ceredex Value Advisors 633.47K +474.23K +297.8%
Holocene Advisors 910 -463.23K -99.8%
D. E. Shaw & Co. 522.63K +432.58K +480.3%
Primecap Management 7.36M -401.87K -5.2%

Financial report summary

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Risks
  • The current COVID-19 pandemic and the potential aftereffects from it could materially harm our business, financial condition and results of operations.
  • A majority of our annual revenues are derived from outside the United States, and we maintain significant operations outside the United States. We are exposed to numerous risks as a result of the international nature of our business and operations.
  • We are exposed to risks associated with a weakening in the condition of the financial markets and the global economy.
  • We might be involved in claims or disputes related to intellectual property or other confidential information that may be costly to resolve, prevent us from selling or using the challenged technology and seriously harm our operating results and financial condition.
  • We are exposed to various risks related to the legal, regulatory and tax environments in which we perform our operations and conduct our business.
  • We depend on key personnel to manage our business effectively, and if we are unable to attract, retain and motivate our key employees, our sales and product development could be harmed.
  • We outsource a number of services to third-party service providers, which decreases our control over the performance of these functions. Disruptions or delays at our third-party service providers could adversely impact our operations.
  • We rely upon certain critical information systems for our daily business operations. Our inability to use or access our information systems at critical points in time could unfavorably impact our business operations.
  • Acquisitions are an important element of our strategy but, because of the uncertainties involved, we may not find suitable acquisition candidates and we may not be able to successfully integrate and manage acquired businesses. We are also exposed to risks in connection with strategic alliances into which we may enter.
  • Disruption of our manufacturing facilities or other operations or those of our suppliers, or in the operations of our customers, due to earthquake, flood, other natural catastrophic events, health epidemics or terrorism could result in cancellation of orders, delays in deliveries or other business activities, or loss of customers and could seriously harm our business.
  • We are predominantly uninsured for losses and interruptions caused by terrorist acts and acts of war. If international political instability continues or increases, our business and results of operations could be harmed.
  • We self-insure certain risks including earthquake risk. If one or more of the uninsured events occurs, we could suffer major financial loss.
  • We are exposed to foreign currency exchange rate fluctuations. Although we hedge certain currency risks, we may still be adversely affected by changes in foreign currency exchange rates or declining economic conditions in these countries.
  • We are exposed to fluctuations in interest rates and the market values of our portfolio investments, and an impairment of our investments could harm our earnings. In addition, we and our stockholders are exposed to risks related to the volatility of the market for our common stock.
  • We are exposed to risks in connection with tax and regulatory compliance audits in various jurisdictions.
  • A change in our effective tax rate can have a significant adverse impact on our business.
  • Compliance with federal securities laws, rules and regulations, as well as NASDAQ requirements, has become increasingly complex, and the significant attention and expense we must devote to those areas may have an adverse impact on our business.
  • A change in accounting standards or practices or a change in existing taxation rules or practices (or changes in interpretations of such standards, practices or rules) can have a significant effect on our reported results and may even affect reporting of transactions completed before the change is effective.
  • Ongoing changes in the technology industry, as well as the semiconductor industry in particular, could expose our business to significant risks.
  • We are exposed to risks associated with a highly concentrated customer base.
  • We operate in industries that have historically been cyclical, including the semiconductor industry. The purchasing decisions of our customers are highly dependent on the economies of both the local markets in which they are located and the condition of the industry worldwide. If we fail to respond to industry cycles, our business, financial condition and operating results could be adversely impacted.
  • If we do not develop and introduce new products and technologies in a timely manner in response to changing market conditions or customer requirements, our business could be seriously harmed.
  • Our success is dependent in part on our technology and other proprietary rights. If we are unable to maintain our lead or protect our proprietary technology, we may lose valuable assets.
  • Our future performance depends, in part, upon our ability to continue to compete successfully worldwide.
  • Our business would be harmed if we do not receive parts sufficient in number and performance to meet our production requirements and product specifications in a timely and cost-effective manner.
  • If we fail to operate our business in accordance with our business plan, our operating results, business and stock price may be significantly and adversely impacted.
  • We have a leveraged capital structure.
  • Our leveraged capital structure may adversely affect our financial condition, results of operations and net income per share.
  • There can be no assurance that we will continue to declare cash dividends at all or in any particular amounts.
  • We are exposed to risks related to our commercial terms and conditions, including our indemnification of third parties, as well as the performance of our products.
  • There are risks associated with our receipt of government funding for research and development.
  • We have recorded significant restructuring, inventory write-off and asset impairment charges and may do so again in the future, which could have a material negative impact on our results of operations.
  • We are exposed to risks related to our financial arrangements with respect to receivables factoring and banking arrangements.
  • We are subject to the risks of additional government actions in the event we were to breach the terms of any settlement arrangement into which we have entered.
Management Discussion
  • Our business is affected by the concentration of our customer base and our customers’ capital equipment procurement schedules as a result of their investment plans. Our product revenues in any particular period are significantly impacted by the amount of new orders we receive during that period and, depending upon the duration of manufacturing and installation cycles, in the preceding period. Revenue is also impacted by average customer pricing, customer revenue deferrals associated with volume purchase agreements, and the effect of fluctuations in foreign currency exchange rates.
  • Service revenues are generated from product maintenance and support services, as well as billable time and material service calls made to our customers. The amount of our service revenues is typically a function of the number of systems installed at our customers’ sites and the utilization of those systems, but it is also impacted by other factors, such as our rate of service contract renewals, the types of systems being serviced and fluctuations in foreign currency exchange rates.
  • Product revenues during the three and nine months ended March 31, 2022 increased compared to the three and nine months ended March 31, 2021, respectively, primarily due to strong demand for many of our products, especially our inspection and metrology portfolios, as well as increases from continued growth in the advanced packaging and specialty semiconductor markets.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: attrition, BBB, Chinese, choose, composed, cycle, domain, ECI, European, evidence, evolution, fulfill, implied, incremental, inflation, invasion, lockdown, Micro, point, preliminarily, rescheduling, RPO, Russia, Shanghai, Shenzhen, slightly, turnover, Ukraine, Union
Removed: actively, conclude, cooperate, home, January, original, separation

Patents

Utility
Methods and systems for semiconductor metrology based on polychromatic soft X-Ray diffraction
17 May 22
Methods and systems for performing measurements of semiconductor structures based on high-brightness, polychromatic, reflective small angle x-ray scatterometry (RSAXS) metrology are presented herein.
Utility
Method for detecting defects in ultra-high resolution panels
17 May 22
A system for inspection of electrical circuits, which electrical circuits include a multiplicity of conductors which are mutually spaced from each other, the system including a voltage driver operative to apply different electrical voltages to a plurality of conductors from among the multiplicity of conductors, which plurality of conductors are in spatial propinquity to each other, a sensor operative to sense at least one characteristic of a test region defined thereby with respect to the electrical circuits, the sensor lacking sufficient spatial resolution to distinguish between the locations of individual ones of the plurality of conductors and a defect indicator responsive to at least one output of the sensor for ascertaining whether a defect exists in the plurality of conductors.
Utility
Systems and methods for optimizing focus for imaging-based overlay metrology
26 Apr 22
Methods and systems for focusing and measuring by mean of an interferometer device, having an optical coherence tomography (OCT) focusing system, by separately directing an overlapped measurement and reference wavefront towards a focus sensor and towards an imaging sensor; where a predefined focusing illumination spectrum of the overlapped wavefront is directed towards the focus sensor, and where a predefined measurement illumination spectrum of the overlapped wavefront is directed towards the imaging sensor.
Utility
Process control metrology
26 Apr 22
Methods and systems for estimating values of process parameters based on measurements of structures fabricated on a product wafer are presented herein.
Utility
Topographic phase control for overlay measurement
26 Apr 22
Metrology tools and methods are provided, which estimate the effect of topographic phases corresponding to different diffraction orders, which result from light scattering on periodic targets, and adjust the measurement conditions to improve measurement accuracy.