Lam Research (LRCX): RBC Sees $400-$500M Buyback, Tuck-In Acquisitions as KLA Deal Terminates
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Rating Summary:
25 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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RBC Capital analyst Amit Daryanani said with the Lam Research (NASDAQ: LRCX)/KLA Tencor (NASDAQ: KLAC) deal terminated, they beleiver LRCX could utilize incremental cash flow toward a sizable ($400-$500M?) buyback and also see a higher probability that LRCX conducts smaller acquisitions.
On the call, LRCX noted that they estimate that a little north of $2.0B inclusive of the $800M raised from their 2021 Senior Note is available domestically.
The firm reiterated an Outperform rating and price target of $105 on LRCX.
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 $96.17 yesterday.
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