Needham raised the firm’s price target on KLA Corp. (KLAC) to $830 from $800 and keeps a Buy rating on the shares. The company reported a strong beat-and-raise quarter and conservatively guided a $3B per quarter revenue run-rate through 2025, which represents 11% total revenue growth on the back of mid-single-digit WFE growth, the analyst tells investors in a research note. KLAC sees a return of leading-edge logic driving up process control intensity, which will expand its WFE share in 2025, the firm added.
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