Lam Research (LRCX): Great Quarter As Expected - Needham
- Oil steadies on doubts output cut will end global glut
- Western Digital (WDC) Raises Q2 Outlook
- Dollar edges up vs yen as traders eye ECB meeting for cues
- Foxconn says in preliminary discussions to expand U.S. operations
- Dave & Buster's Entertainment (PLAY) Tops Q3 EPS by 11c, Raises FY Revenue Guidance
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Needham & Company analyst, Edwin Mok, reiterated his Buy rating on shares of Lam Research (NASDAQ: LRCX) and raised his price target to $120 from $115 after the company reported strong F1Q17 (Sep) results and provided F2Q17 (Dec) guidance above consensus.
This outcome was in line with analyst expectations and documented in a 10/13 earnings preview note. LRCX continues to benefit from strong 3D NAND investments. Also, its strength in multi-patterning has allowed share gain with foundry/logic customers, which could be an incremental driver in CY17. With very strong shipments in the near term, some investors are concerned that sequential growth is not sustainable going into CY17, but the analyst believes LRCX is well positioned around technology inflections and he expects another year of outperformance ahead.
Shares of Lam Research closed at $99.72 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Securities Raises Price Target on Francesca's (FRAN) Following 3Q Beat
- Susquehanna Upgrades Caleres (CAL) to Positive
- Western Digital (WDC) PT Raised to $72 at Mizuho Securities
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change, Earnings
Related EntitiesNeedham & Company, Earnings
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!