Pacific Crest Downgrades Lam Research (LRCX) to Sector Weight

October 12, 2016 6:43 AM EDT
Get Alerts LRCX Hot Sheet
Price: $98.98 +1.40%

Rating Summary:
    18 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 26 | Down: 29 | New: 38
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Pacific Crest downgraded Lam Research (NASDAQ: LRCX) from Overweight to Sector Weight and removed its price target. Analyst Weston Twigg thinks further stock appreciation in semiconductor equipment will be limited.

"We anticipate order declines and limited demand growth for semiconductor equipment names as 3D NAND equipment demand is likely to peak in 2017, while logic/foundry demand remains mixed and DRAM demand remains low. Sector valuations are reasonable, so we do not see meaningful near-term downside risk, but further stock appreciation may be limited. We are lowering our ratings for LRCX and NANO to Sector Weight, and we remain Overweight on AMAT, MKSI and ENTG for longer-term opportunities," said Twigg.

For an analyst ratings summary and ratings history on Lam Research click here. For more ratings news on Lam Research click here.

Shares of Lam Research closed at $99.59 yesterday.

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