On CNBC’s “Mad Money Lightning Round,” Jim Cramer said KLA Corporation (NASDAQ:KLAC) is a “great” company, which has gained 40% for the year, while its price-to-earnings multiple is still too high. “It does great intellectual property. I think if you wanted to buy some here, it’s fine. But again, I would not put a lot of it on.”
UBS analyst Timothy Arcuri maintained KLA at Neutral on Tuesday, while cutting the price target from $215 to $200.
When asked about Applied Materials, Inc. (NASDAQ:AMAT), he said, “We don’t care where we bought it, we care where it’s going. This stock is now down $300 from its high. I think if you did initiate a position now, you buy a little here.”
UBS analyst Timothy Arcuri maintained Applied Materials with a Buy rating on Tuesday and raised the price target from $675 to $695.
Cramer said Velo3D, Inc. (NASDAQ:VELO) has not had the revenue growth he was expecting and that’s why the stock is trading at $11. He recommended waiting until the company delivers a few more solid quarters.
Velo3D, on Aug. 11, reported second-quarter revenue of $20.66 million, up 52.3% year-over-year, beating analyst estimates of $13.52 million, according to Benzinga Pro. The company posted a second-quarter adjusted loss of 30 cents per share, beating analyst estimates of 31 cents per share.
“I wouldn’t put it all at once because remember the budget deficit is going to have to be controlled at a certain point, and it’s going to include military,” Cramer said when asked about General Dynamics Corp (NYSE:GD). His favorite in the group remains Lockheed Martin Corp (NYSE:LMT), he added.
Price Action
- Applied Materials shares fell 3.6% to settle at $441.85 on Tuesday.
- Velo3D shares declined 5.5% to close at $11.25 during the session.
- KLA fell 2.6% to settle at $170.89 on Tuesday.
- General Dynamics shares fell 0.5% to close at $369.41.
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