Case 80 KLA

KLA is a global technology leader which provides leading-edge technology and devices using advanced inspection tools, metrology systems, and computational analytics. The company provides advanced process control and process-enabling solutions for manufacturing wafers and reticles, integrated circuits, packaging, printed circuit boards, and flat-panel displays. KLA was established as KLA-Tencor in April 1997 through the merger of KLA Instruments Corporation and Tencor Instruments. In 2019, KLA acquired Orbotech Ltd., a global supplier of yield-enhancing and process-enabling solutions for the manufacture of electronic products. As of Jan 2023, the company has employed 14,000 people globally. During the 5-year period 2017–2022, the holding period return for KLA stock was 285% compared to the returns of 71% and 168% for the S&P 500 and PHLX Semiconductor Index, respectively. The average book value of equity as percent of market value of equity was 7% during the period 2018–2022.