Fly News Breaks for August 10, 2016
KLAC, LRCX
Aug 10, 2016 | 10:37 EDT
Following this morning's update from the companies, Citi said it still believes the merger between Lam Research (LRCX) and KLA-Tencor (KLAC) to close. Working with the Department of Justice on the terms of a consent decree adds complexity to the deal, but the closing is more a matter of timing at this point, Citi tells investors in a research note. Shares of both companies are trading lower after they said "it has become more likely that obtaining regulatory clearances in one or more of the remaining jurisdictions may extend beyond October 20, 2016, the outside date set forth in the merger agreement." Lam Research is down 4% to $89.18 while KLA-Tencor is down 8% to $71.50.
News For LRCX;KLAC From the Last 2 Days
KLAC
Apr 16, 2024 | 06:48 EDT
Stifel raised the firm's price target on KLA Corp. to $760 from $685 and keeps a Buy rating on the shares. The firm remains upbeat on the initial areas of pickup - HBM and advanced packaging - and expects to see incremental evidence of this broadening, the analyst tells investors in a semiconductor capital equipment group preview note. With utilization in advanced foundry/DRAM nodes tight and tightening and expected upward pressure on initial 2024 capex forecasts, the firm sees the stage being set for orders picking up in the second half of 2024, the analyst added.
KLAC
Apr 15, 2024 | 16:34 EDT
Evercore ISI analyst Mark Lipacis initiated coverage of KLA Corp. with an Outperform rating and $800 price target. The analyst started coverage of the semicap equipment sector with a positive view on industry fundamentals. The firm thinks four secular drivers have transitioned the group from ex-growth to a high-single digit growth industry, and models wafer fab equipment spending of $220B in 2032, up from $100B levels recently.