KLA stock stays supported by a 60% backlog gain

Published on 09/16/2026 at 14:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

KLA stock closed at USD 168.02 on September 15, 2026, after a 0.63 percent drop. UBS cut its target to USD 200 on September 1, 2026, while backlog reached about USD 12.6 billion.

Techniker in Schutzanzügen arbeiten an Halbleiter-Prüfmaschinen in blau beleuchtetem Reinraum — Fotorealistische Reinraumfertigung zeigt KLA Corporation ISIN US4824801009 mit Technikern an Halbleiter-Inspektionsmaschinen im Blaulicht, Illustration mit AI erstellt.

KLA Corporation stock (ISIN US4824801009) closed at USD 168.02 on September 15, 2026, after a 0.63 percent decline, while UBS lowered its price target to USD 200 from USD 215 on September 1, 2026. The latest numbers keep the debate centered on valuation, cash generation and how much of the semiconductor cycle is already priced in.

Margin strength meets a higher bar

According to Zacks, KLA generated record fourth-quarter fiscal 2026 revenue of USD 3.66 billion, with a 62.4 percent gross margin and a 43.7 percent operating margin. The same report said free cash flow in the quarter was USD 817 million and shareholder returns reached USD 876 million through buybacks and dividends.

That quarter mattered because the comparison is clean: fiscal 2026 revenue in the article was USD 17.85 billion by the Zacks consensus for fiscal 2027, and the report said that implied 31.46 percent growth from fiscal 2026. For investors, the key question is whether margin pressure from higher memory-component costs can offset that scale.

Backlog gives visibility

According to Zacks, KLA expects advanced-packaging process-control revenue to reach about USD 1.1 billion in calendar 2026, up more than 70 percent year over year and about twice the broader advanced-packaging market growth rate. The same piece said backlog stood at about USD 12.6 billion, up roughly 60 percent from fiscal 2025.

UBS added a more cautious note on September 1, 2026, by keeping the rating Neutral and cutting the target to USD 200 from USD 215. That leaves the stock between strong operational data and a valuation that still looks demanding after a year-to-date gain of 38.79 percent as of September 15, 2026.

Stock and valuation

As of September 15, 2026, KLA stock traded at USD 168.02 on Nasdaq, with a day range of USD 165.93 to USD 172.07, volume of 7,873,843 shares and an intraday market capitalization of USD 219.526 billion. The 52-week range was USD 97.51 to USD 307.37.