Report
Abhinav Davuluri
EUR 101.80 For Business Accounts Only

KLA-Tencor Well-Positioned to Benefit from Next Wave of Capital Equipment Growth; FVE Raised to $125

After taking a fresh look at our semiconductor capital equipment coverage, we are raising our 2018 equipment market growth rate from 3% to 10%. Our revised estimates were driven by two critical factors: persisting demand across leading logic, foundry, and memory chipmakers, and China’s push to develop a domestic semiconductor manufacturing ecosystem. Major logic and foundry vendors continue to invest in leading-edge process technologies such as the 10-nanometer node while capital intensity at ea...
Underlying
KLA Corporation

KLA is a supplier of process control and yield management solutions for the semiconductor and related nanoelectronics industries. The company provides process control and process-enabling solutions for manufacturing and testing wafers and reticles, integrated circuits, packaging, light emitting diodes, power devices, compound semiconductor devices, microelectromechanical systems, data storage, printed circuit boards (PCBs), and flat and flexible panel displays, as well as general materials research. The company has four reportable segments which include Semiconductor Process Control; Specialty Semiconductor Process; PCB, Display and Component Inspection; and Other.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Abhinav Davuluri

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