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Further Reading from MarketBeat Buyback Watch: KLA, Flutter, and Grab Move Fast as Their Stocks SwingSubmitted by Leo Miller. Posted: 3/31/2026. 
Key Points - KLA has surged due to chip shortages, and the company just increased its buyback capacity in a big way.
- As prediction market fears hit FLUT, analysts are indicating that a huge recovery may be ahead.
- Regulatory issues are rattling GRAB, and the company now clearly sees value in its stock.
- Special Report: Elon Musk already made me a "wealthy man"
Despite wildly different recent performances, big names across semiconductors, entertainment, and e-commerce are signaling confidence through fresh buyback programs. Two beaten-down stocks in particular plan to spend hundreds of millions on repurchases over a short period, suggesting these companies see value in their shares at current levels. Semi Equipment Giant KLA Ups Buyback Capacity to $11 Billion KLA (NASDAQ: KLAC) has been one of the market's biggest large-cap winners, with shares up more than 100% over the past 52 weeks. The firm is a leading provider of semiconductor manufacturing equipment. With supply of leading-edge wafers and high-bandwidth memory constrained, equipment providers like KLA are positioned to see strong demand. After posting 7% year-over-year (YOY) growth last quarter, KLA's guidance implies an acceleration to 9% growth next quarter. Wall Street currently expects KLA's revenue growth to accelerate over each of the next five quarters. Reinforcing that outlook is the company's recently announced $7 billion share repurchase plan. Shares are down more than 10% from their 52-week high, and the stock fell sharply after the last earnings report — a move management may view as an overreaction and a buying opportunity. The new authorization adds to roughly $3.94 billion of unused buyback capacity, bringing total repurchase capacity to just under $11 billion. That amount equals about 5.8% of the firm's roughly $190 billion market capitalization, giving KLA substantial room to repurchase shares. Down Over 50%, FLUT Announces 10-Week Buyback Plan Shares of Flutter Entertainment (NYSE: FLUT), which operates FanDuel, have plunged more than 55% over the past year. By various metrics, FanDuel ranks either first or second in U.S. online sports betting market share, with DraftKings (NASDAQ: DKNG) its closest rival. Still, many view the rise of prediction markets in 2025 as a potential headwind to Flutter's traditional betting business. In its last earnings report, the company said it did not believe prediction markets were materially impacting its business, but also noted that handle growth (betting volume) was moderating. That moderation, combined with a miss on sales and adjusted EPS, spooked investors and sent the stock down almost 14% after the report. Flutter remains confident in its outlook and is ramping up its own prediction-markets offering. To demonstrate that confidence, the firm launched a $250 million share repurchase arrangement. The program equals roughly 1.4% of the company's ~ $17.5 billion market capitalization and is planned to be executed over just 10 weeks. The short execution window suggests Flutter wants to take advantage of recent prices quickly. GRAB Sees “Dislocation” in Shares, Announces $400 Million Buyback Grab (NASDAQ: GRAB) is a dominant ride-hailing and food-delivery platform in Southeast Asia. Its share of the region's food delivery market rose to 55% in 2025, up from 53.8% in 2024. Despite those gains, Grab is down over 20% in the past year and more than 40% from its 52-week high. Regulatory pressures have weighed on the stock. Reports indicate Indonesia — one of Grab's largest markets — is considering measures that could significantly affect the business, including cutting the maximum commission Grab can charge on rides from 20% to 10%. Grab warned that such changes, if adopted, "would increase our costs, reduce our margins, and diminish our operational flexibility." Still, management's guidance points to a strong year: the company projects 20% to 22% revenue growth in 2026 and expects adjusted EBITDA to rise 40% to 44%. Grab also plans to deploy $400 million in repurchases over the next four months. That represents about 2.7% of the company's roughly $14.6 billion market cap; $250 million of this will be used in an accelerated repurchase program, signaling management's desire to buy back shares near current prices. In its buyback announcement, Grab said, “We view the current share price dislocation as a clear opportunity to enhance shareholder value.” Could Regulators Help Turn FLUT’s Fortunes? KLAC, FLUT, and GRAB are all using buybacks to reinforce shareholder confidence. Flutter is especially interesting given recent regulatory attention: the Senate has introduced a bill to ban sports betting on prediction markets, which could materially affect the competitive landscape. The MarketBeat consensus price target for FLUT sits near $227, implying more than 100% upside from current levels. Price targets updated after the company's latest earnings are lower — around $183 — but still imply roughly 80% upside. Regulators and future execution on repurchases and product initiatives will help determine whether that upside is attainable. | 
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