DRAM Pick-Up Suggests Strong December Qtr for Lam Research (LRCX) - Needham & Company
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Needham & Company analyst Y. Edwin Mok reiterated a Buy rating and $105 on Lam Research (NASDAQ: LRCX), noting a pick-up in DRAM orders supports a strong December quarter.
Mok commented, "Our recent checks suggest strengthening of memory shipments going into 4Q16 with some pick-up in DRAM orders, giving us more confidence that LRCX will be able to guide sequentially higher shipments in F2Q17 (Dec), which is above prior management's guidance for decline. We believe increased shipments will drive some upside to December quarterly revenue. Going into CY2017, we are projecting a robust demand environment in WFE, and expect LRCX's success around several technology inflections (3D NAND, multi-patterning, FinFET) to drive continued outperforming growth. While LRCX's stock could see some volatility in the coming months on the outcome of the KLAC [Hold] acquisition, the stock looks reasonably valued at a CY2017 ex-cash P/E of just 10.9x based on current estimates before any KLAC deal accretion."
Shares of Lam Research closed at $92.15 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Skyworks Solutions (SWKS) PT Raised to $92 at Needham & Company Following Solid 1Q Beat and Raise
- Herbalife's (HLF) Debt Package News Seen as 'Enormous Positive' at Pivotal Research
- Web.com, Inc. (WEB) PT Raised to $25 at BWS Financial Ahead of 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesNeedham & Company, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!