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Fly News Breaks for October 5, 2015
LRCX
Oct 5, 2015 | 06:46 EDT
RBC Capital downgraded Lam Research to Underperform and reduced its price target to $52 from $76. Analyst Mahesh Sanganeria expects CY16 capex to be down 13% year-over-year to $46B driven by DRAM and NAND capex declines, and flattish foundry investment. Sanganeria said management indicated December quarter shipments will be down 20% quarter-over-quarter. His estimate is for down 25% quarter-over-quarter and sees potential downside risk to his estimate.
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