KLA Corporation KLAC reported third-quarter fiscal 2021 earnings of $3.85, which beat the Zacks Consensus Estimate by 7.2% and surged 56% year over year.Revenues increased 26.7% year over year to $1.80 billion, surpassing the Zacks Consensus Estimate by 3.6%.Products revenues (accounting for 76.2% of total revenues) increased 30.8% year over year to $1.38 billion.Services revenues (23.8% of total revenues) increased 14.9% from the year-ago quarter to $428.5 million.Quarter DetailsIn terms of reportable segments, Semiconductor Process Control revenues increased 28% year over year to $1.51 billion.KLA Corporation Price, Consensus and EPS Surprise KLA Corporation price-consensus-eps-surprise-chart | KLA Corporation QuoteSpecialty Semiconductor Process revenues were $91.7 million, up 7.8% year over year.PCB, Display and component inspection revenues jumped 28% year over year to $205.2 million.Selling, General and Administrative (SG&A) expenses were $239 million, reflecting an 11% year-over-year increase. As a percentage of revenues, SG&A expenses decreased 190 basis points (bps) year over year to 13.2%.Research and development (R&D) expenses were $183 million, down 1.5% year over year. As a percentage of revenues, R&D expenses decreased 290 bps year over year to 10.1%.Balance SheetAs of Mar 31, 2021, KLA had cash, cash equivalents and current marketable securities of $2.44 billion compared with $2.3 billion as of Dec 31, 2020.Cash from operations was $646.2 million for the fiscal third quarter versus $561.1 million in the previous quarter.During the quarter, the company paid $139.6 million in dividends and repurchased $273 million shares.GuidanceFor fourth-quarter fiscal 2021, revenues are expected between $1.755 million and $1.955 million.KLA expects non-GAAP gross margin in the range of 61-63%.Moreover, KLA expects earnings between $3.47 and $4.35 per share.Zacks Rank & Stocks to ConsiderKLA currently has a Zacks Rank #3 (Hold).Better-ranked stocks in the broader technology sector are CDW Corporation CDW, Cognex CGNX and EPAM Systems EPAM. All the three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.CDW is set to report its quarterly earnings on May 5. Both Cognex and EPAM are scheduled to report the same on May 6.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report KLA Corporation (KLAC): Free Stock Analysis Report Cognex Corporation (CGNX): Free Stock Analysis Report EPAM Systems, Inc. (EPAM): Free Stock Analysis Report CDW Corporation (CDW): Free Stock Analysis Report To read this article on Zacks.com click here.