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Stock Alert: KLA Corp.

KLA Corp. (KLAC) closed Monday's trading at $152.09, up $1.97 or 1.31%. The company has a market cap of $23.84 billion. The stock has traded between $119.71 and $184.50 for the past one year.

KLA is a capital equipment company based in Milpitas, California. It supplies process control and yield management systems for the semiconductor industry and other related nanoelectronics industries.

For the second quarter, the semiconductor company had reported earnings of $381 million or $2.40 per share, compared to $369 million or $2.42 per share in the same period last year. Revenues for the quarter rose to $1.51 billion from $1.12 billion a year ago.

The company last month announced that the KLA Foundation is creating a $2 million fund to focus on global relief efforts benefiting nonprofit organizations in regions with the highest number of individuals affected by COVID-19.

The semiconductor industry is getting a boost as chip makers are buying more and more products in fear that supplies could be disrupted due to the ongoing COVID-19 pandemic.

The industry as whole is benefiting from the ongoing crisis as demand for PCs are sharply rising, which will eventually drive the semiconductor industry's sales. Demand for tech products and services that help people work from home are rising driven by the stay-at-home orders to combat the spread of coronavirus.

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