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LRCX

Lam Research

$139.24

-0.58 (-0.41%)

09:14
01/24/19
01/24
09:14
01/24/19
09:14

Lynx says Lam Research wiped out expectation for second half memory inflection

Lynx Equity Strategies analysts Jahanara Nissar and KC Rajkumar said they believe the most significant phrase from Lam Research's earnings call yesterday was "there is no significant recovery in memory spending throughout 2019," adding that Lam's incoming CEO Tim Archer "firmly wiped away" the market's previously held expectation that memory spending would inflect upwards in 2H19. Calendar year 2019 WFE expectations were lowered to $40B-$42B from the "$48B-ish level implied at the previous earnings call," which is below the consensus range of $42B-$45B, Nissar and Rajkumar noted. They view Lam Research shares as fairly valued at current levels and keep a $150 price valuation on the stock following the company's quarterly report.

  • 25

    Mar

LRCX Lam Research
$139.24

-0.58 (-0.41%)

01/17/19
JPMS
01/17/19
NO CHANGE
JPMS
JPMorgan sees bottom forming in Semi stocks ahead of second half rally
JPMorgan analyst Harlan Sur expects most of the Semiconductor companies he covers to report December quarter numbers in-line with his and consensus expectations. The stocks should start to discount improving fundamentals in the first half of 2019 and should be accumulated on any further pullbacks, Sur tells investors in a research note. While the analyst anticipates another round of consensus estimate cuts in the January earnings season, he believes further share downside is limited since many of his stocks are down 25% from the peak in March/June of last year. In large cap stocks, Sur's top pick is Broadcom (AVGO) and he also favors Nvidia (NVDA), Intel (INTC), Maxim Integrated (MXIM) and Micron Technology (MU). The analyst's small cap top picks include Inphi (IPHI) and Mellanox (MLNX). In Semi Capital Equipment, Sur favors Lam Research (LRCX).
01/23/19
SBSH
01/23/19
NO CHANGE
SBSH
Citi moves Lam Research to top pick in Semiconductor Capital Equipment
Citi analyst Atif Malik lowered his 2019 wafer-fab equipment spend estimate to $40B, or down 22% year-over-year, versus his prior $44B to reflect weak Korea memory spending. The analyst also moved Lam Research (LRCX) to his number one pick and Applied Materials (AMAT) to number two. Previous top pick KLA-Tencor (KLAC) moves down to number three to reflect "prior stock performance into and out of memory downturns." Among smaller caps, the analyst moves Brooks Automation (BRKS) up to his top pick "due to the strength of the life sciences portfolio which should bring stability to top line relative to semi peers." Malik thinks Semiconductor Capital Equipment group returns look attractive "with the rationale to buy and hold long-term."
01/24/19
KEYB
01/24/19
NO CHANGE
Target $223
KEYB
Overweight
Lam Research price target lowered to $223 from $231 at KeyBanc
KeyBanc analyst Weston Twigg lowered his price target for Lam Research to $223 from $231 to reflect near-term headwinds. Nonetheless, the analyst reiterates an Overweight rating on the shares after the company posted strong results and relatively good guidance in the face of deteriorating semiconductor conditions, again showing its strong market position, solid execution, and expanding installed base business.
01/24/19
RILY
01/24/19
NO CHANGE
Target $170
RILY
Buy
Lam Research price target raised to $170 from $160 at B. Riley FBR
B. Riley FBR analyst Craig Ellis raised his price target for Lam Research to $170 after the company's fiscal Q2 results topped his estimates. He keeps a Neutral rating on the shares.

TODAY'S FREE FLY STORIES

ATNM

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XXII

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PDM

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TEVA

Teva

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FLIC

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SCS

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-0.115 (-0.65%)

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PRGO

Perrigo

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0.52 (1.07%)

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TRMK

Trustmark

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WIX

Wix.com

$108.92

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CG

Carlyle Group

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INVH

Invitation Homes

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Syndicate
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  • 19

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SCS

Steelcase

$17.49

-0.115 (-0.65%)

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Earnings
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BA

Boeing

$373.87

1.77 (0.48%)

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Periodicals
Boeing CEO says understands 'lives depend' on jet safety, Reuters says »

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SCS

Steelcase

$17.49

-0.115 (-0.65%)

16:47
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Earnings
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EOLS

Evolus

, AGN

Allergan

$154.13

3.41 (2.26%)

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AGN

Allergan

$154.13

3.41 (2.26%)

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NVCR

Novocure

$50.99

-0.11 (-0.22%)

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Initiation
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  • 19

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SCS

Steelcase

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Earnings
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MYL

Mylan

$28.61

0.44 (1.56%)

16:44
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ALTR

Altair

$37.68

-0.51 (-1.34%)

16:43
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MNK

Mallinckrodt

$23.19

0.49 (2.16%)

16:42
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Initiation
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  • 27

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LCI

Lannett

$8.05

0.17 (2.16%)

16:41
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16:40
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JAZZ

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  • 20

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NVRO

Nevro

$44.76

0.37 (0.83%)

16:39
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  • 20

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