Report
Abhinav Davuluri
EUR 101.80 For Business Accounts Only

KLA-Tencor's Process Control Dominance Drives Record 4Q Shipments; Raising FVE to $85

KLA-Tencor reported strong fourth-quarter results, exceeding our expectations as the wafer fabrication equipment, or WFE, space enjoys healthy spending in support of 3D NAND and 10-nanometer-related investments. For calendar 2017, management expects business levels in China for KLA to more than double. Given the high level of both multinational and domestic investments in the country, combined with China typically having higher process control intensity at its fabs (to offset potential yield lea...
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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