The latest authorization is in addition to the company's existing share repurchase authorization, which had $859 million remaining as of June 30.
The company also affirmed it expects fiscal first-quarter revenue of $1.31 billion to $1.39 billion, and non-GAAP earnings of $2.04 to $2.34 a share.
KLA is hosting an investor day Tuesday in New York.
The stock was up 0.21% to $151.50 in premarket trading Tuesday after closing Monday at a record $151.19. Shares have risen nearly 69% so far in 2019.