Jim Cramer Calls KLA Corporation an “Incredibly Well-Run Company”

KLA Corporation (NASDAQ:KLAC) is one of the stocks Jim Cramer talked about, along with market froth. Answering a caller’s query about the stock during the lightning round, Cramer commented:

Okay, KLA is an incredibly well-run company whose stock is up gigantically. They make the semiconductor capital equipment, you need that, memory. I think that if you wanted to start a position, get this, I am blessing this, okay? The stock was down huge today. I think if you wanted to buy 100 shares, you can buy 15 to 20 shares tomorrow. I normally would not say that, except for this one was down huge. You’re not buying it at the top. That’s what matters to me.

A laptop and a computer monitor display a detailed stock market technical analysis chart. Photo by Jakub Zerdzicki on Pexels

KLA Corporation (NASDAQ:KLAC) develops tools and software that help chipmakers inspect, measure, and control semiconductor manufacturing to improve quality and yields. During the January 5 episode, Cramer highlighted the stock’s tremendous rally, as he remarked:

Next, there’s KLA Corp. There’s a, it’s another semiconductor equipment company just like Lam Research, up 93% last year. This one’s all about the data center’s voracious demand for memory chips. Well, at this point, frankly, in the cycle, you have to expect companies like KLA to keep racking up big orders because there’s simply not enough production capacity to make all the chips we need.

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Disclosure: None. This article is originally published at Insider Monkey.