Unusually active option classes on open October 22nd » 09:4010/2210/22/21
AGC, ZM, WDC, TTD, WE, LRCX, PYPL, IBM, CLF, DIDI
Unusual total active…
Unusual total active option classes on open include: Altimeter Growth Corp (AGC), Zoom Video Communications (ZM), Western Digital (WDC), Trade Desk (TTD), WE (WE), Lam Research (LRCX), PayPal (PYPL), IBM (IBM), Cleveland-Cliffs (CLF), and DiDi Global (DIDI).
Zoom Video, Twilio initiations among today's top calls on Wall Street » 09:5610/2110/21/21
ZM, TWLO, SQSP, WIX, LRCX, MSFT, GOOG, GOOGL
Check out today's top…
Fly Intel: Top five analyst downgrades » 09:5310/2110/21/21
WIX, LPSN, RFP, LRCX, FVRR
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wix.com (WIX) downgraded to Sector Perform from Outperform at RBC Capital with analyst Brad Erickson citing his checks with SMB-focused web design agencies which suggest "less improvement from the summertime hyperseasonality" along with the combination of slowing new digital business formation. 2. LivePerson (LPSN) downgraded to Underweight from Overweight at Barclays with analyst Ryan MacWilliams seeing LivePerson's Gainshare offering and investments in a broader product suite as positives, but says they come with increased execution and business risk. 3. Resolute Forest (RFP) downgraded to Neutral from Outperformer at CIBC with analyst Hamir Patel now seeing "limited catalysts on the horizon" for wood products names. 4. Lam Research (LRCX) downgraded to Hold from Buy at Summit Insights with analyst Kinngai Chan saying that while increased capital intensity should drive higher customer spending in the longer-term term, there is a more conservative memory spending scenario playing out as memory players reset their product roadmaps due to reduced demand in the PC and smartphone end-markets. 5. Fiverr (FVRR) downgraded to Sector Perform from Outperform at RBC Capital with analyst Brad Erickson noting that while he remains positive on Fiverr's opportunity and high quality management team, the downgrade is based on the expected upcoming deceleration and the risk to 2022 consensus estimates in particular. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Lam Research investors shouldn't miss 'forest for the trees,' says Evercore ISI » 09:0610/2110/21/21
After Lam Research's…
After Lam Research's (LRCX) report and guidance showed that "ASML's supply constraints are not an isolated issue for the Semi Equipment industry," Evercore ISI analyst C.J. Muse said investors shouldn't "miss the forest," or growth into 2002, for "the trees," or near-term supply chain constraints. Muse, who thinks "it is crystal clear that Lam's visibility into 2022 is very strong," reiterates an Outperform rating and $700 price target on Lam shares.
Lam Research price target lowered to $750 from $815 at B. Riley » 07:5310/2110/21/21
B. Riley analyst Craig…
B. Riley analyst Craig Ellis lowered the firm's price target on Lam Research to $750 from $815 and reiterates a Buy rating on the shares. The analyst says the company's fiscal Q1 results and Q2 outlook were held back by supply chain issues. Given near-term headwinds to sales and earnings upside, he reduced the target multiple.
Lam Research price target lowered to $575 from $660 at Wells Fargo » 07:4410/2110/21/21
Wells Fargo analyst Joe…
Wells Fargo analyst Joe Quatrochi lowered the firm's price target on Lam Research to $575 from $660 and keeps an Equal Weight rating on the shares as near-term earnings upside will likely remaining limited. The analyst notes Lam Research's Q1 results were highlighted by continued strong equipment demand, coupled with ongoing component shortages/supply chain disruptions. While Lam did not provide a quantitative 2022 WFE outlook, the company remains confident in broad-based demand strength driving another year of spending growth, while extended lead-times were noted as providing better visibility than usual exiting Q3 as it anticipates exiting 2021 with significant unmet demand, Quatrochi adds.
Lam Research price target lowered to $700 from $715 at UBS » 07:1710/2110/21/21
UBS analyst Timothy…
UBS analyst Timothy Arcuri lowered the firm's price target on Lam Research to $700 from $715 but keeps a Buy rating on the shares after its Q1 earnings beat and a slight miss on Q2 guidance. The quarter did not do much to "sway the debate" that Lam Research remains the top pick in Semiconductor Production Equipment, the analyst tells investors in a research note.
Lam Research price target lowered to $590 from $690 at Susquehanna » 07:1210/2110/21/21
Susquehanna analyst Mehdi…
Susquehanna analyst Mehdi Hosseini lowered the firm's price target on Lam Research to $590 from $690 and keeps a Neutral rating on the shares. The analyst said they reported a mixed quarter as the top line missed but the bottom line beat estimates. He said the the stock still trades at roughly16 times peak earnings which does not offer investors an attractive risk/reward profile.
Lam Research price target lowered to $650 from $700 at Deutsche Bank » 07:1010/2110/21/21
Deutsche Bank analyst…
Deutsche Bank analyst Sidney Ho lowered the firm's price target on Lam Research to $650 from $700 and keeps a Hold rating on the shares post the fiscal Q1 results. Supply constraints continue to impact revenue growth, and company commentary suggested that growth could be limited in the next few quarters, Ho tells investors in a research note. The analyst views the stock's current risk/reward as balanced.
Lam Research price target lowered to $700 from $725 at Mizuho » 06:4610/2110/21/21
Mizuho analyst Vijay…
Mizuho analyst Vijay Rakesh lowered the firm's price target on Lam Research to $700 from $725 and keeps a Buy rating on the shares post last night's results. The analyst adjusted estimates to reflect a weaker memory environment despite "strong" foundry and logic markets.