Company coverage
Research snapshot 2026-08-31
Research activity
KLAC 23 trade records · 0 option records · 2025-01-06 → 2026-07-15Moat
WideDominates semiconductor process-control equipment with 50-60% global market share and 60%+ gross margins. KLA's tools are deeply integrated into chip fabrication — switching costs are prohibitive (customers would essentially need to rebuild factorie…
Physical assets
ModerateManufacturing and R&D facilities (Michigan HQ, Newport Wales complex, Chennai innovation hub). The real moat is IP, customer lock-in, and engineering talent — not the physical plants.
Software / hardware
Software35%
Hardware65%
Growth. 50-60% process control monopoly deepens as EUV and advanced packaging nodes demand exponentially more inspection, with 95%+ free cash flow conversion funding R&D reinvestment. Primary assets. Process control equipment IP (50-60% global share…
- manual · sw-hw
Growth. 50-60% process control monopoly deepens as EUV and advanced packaging nodes demand exponentially more inspection, with 95%+ free cash flow conversion funding R&D reinvestment. Primary assets. Process control equipment IP…
- manual · physical-assets
Manufacturing and R&D facilities (Michigan HQ, Newport Wales complex, Chennai innovation hub). The real moat is IP, customer lock-in, and engineering talent — not the physical plants.
- manual · moat
Dominates semiconductor process-control equipment with 50-60% global market share and 60%+ gross margins. KLA's tools are deeply integrated into chip fabrication — switching costs are prohibitive (customers would essentially need…
| Date | Action | Type | Relative size |
|---|---|---|---|
| 2026-07-15 | SELL | Equity | +100% |
| 2026-07-15 | SELL | Equity | +1% |
| 2026-07-15 | SELL | Equity | +29% |
| 2026-07-15 | SELL | Equity | +100% |
| 2026-07-15 | SELL | Equity | +7% |
| 2026-07-06 | SELL | Equity | +8% |
| 2026-07-06 | SELL | Equity | +30% |
| 2026-05-27 | BUY | Equity | +25% |
| 2026-05-04 | SELL | Equity | +45% |
| 2026-04-30 | BUY | Equity | +32% |
| 2026-04-30 | BUY | Equity | +5% |
| 2026-04-13 | BUY | Equity | +1% |
| 2026-04-13 | BUY | Equity | +5% |
| 2026-01-09 | BUY | Equity | +0% |
| 2026-01-02 | BUY | Equity | +0% |
| 2025-12-08 | BUY | Equity | +0% |
| 2025-04-10 | BUY | Equity | +0% |
| 2025-04-03 | BUY | Equity | +0% |
| 2025-03-27 | BUY | Equity | +0% |
| 2025-02-11 | BUY | Equity | +0% |
| 2025-02-11 | BUY | Equity | +0% |
| 2025-01-08 | BUY | Equity | +0% |
| 2025-01-06 | BUY | Equity | +3% |
Notes
Full portfolio moat / asset analysis
Dominates semiconductor process-control equipment with 50-60% global market share and 60%+ gross margins. KLA's tools are deeply integrated into chip fabrication — switching costs are prohibitive (customers would essentially need to rebuild factories). 11% of revenue spent on R&D. 30%+ ROIC and 95%+ free cash flow conversion indicate extreme pricing power.…
Full portfolio moat / asset analysis
Manufacturing and R&D facilities (Michigan HQ, Newport Wales complex, Chennai innovation hub). The real moat is IP, customer lock-in, and engineering talent — not the physical plants.
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