6. KLA Corporation (NASDAQ:KLAC)
Short Percentage of Shares Outstanding: 2.68%
Forward P/E: 50.84
On June 9, UBS raised its price target on KLA Corporation (NASDAQ:KLAC) to $2,180 from $1,770 while maintaining a Neutral rating on the shares. The substantial increase in the target price reflects improving confidence in the semiconductor equipment sector and KLA’s ability to capitalize on growing industry investment. KLA remains strategically positioned to benefit from rising demand for advanced semiconductor manufacturing technologies driven by artificial intelligence, high-performance computing, and next-generation electronics.
On May 7, KLA Corporation announced that its board of directors approved a ten-for-one forward stock split of the company’s outstanding common shares, a move intended to enhance share accessibility while reinforcing its long-term innovation and growth strategy. Shareholders of record as of June 4, 2026, will receive nine additional shares for each share owned, with split-adjusted trading scheduled to begin on June 12, 2026. While the stock split will not alter the company’s market capitalization or shareholder ownership percentages, it reflects management’s confidence in the business and may broaden investor participation by making shares more accessible to a wider range of market participants.
Founded in 1975 and headquartered in Milpitas, California, KLA Corporation (NASDAQ:KLAC) designs and manufactures process control and yield management systems essential for the semiconductor and electronics industries. The company explores quantum computing through strategic partnerships and research labs, such as their Artificial Intelligence-Advanced Computing Lab, which focuses on exploring next-generation compute technologies.
While we acknowledge the potential of KLAC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than KLAC and that has 100x upside potential, check out our report about the cheapest AI stock.
Click to continue reading and see the 5 Most Overvalued Quantum Computing Stocks According to Short Sellers.
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