Needham & Company Maintains a 'Hold' on Lam Research (LRCX); Expect Sharp Decline in September Shipments as Visibility Further Deteriorates
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Price: $332.36 -1.38%
Rating Summary:
33 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
33 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Lam Research (NASDAQ: LRCX).
Needham analyst says, "LRCX reported slightly better than expected F4Q11 (Jun) results but provided poor guidance. While expectation going into the report was low given the environment, the significantly lower shipment outlook is probably worse than the buy-side’s view. Commentary suggests order visibility has further deteriorated, but the company remains confident that this is a nearterm pause rather than a cyclical downturn. Despite the market condition, LRCX is increasing OPEX, leading to a substantial decline in its operating margins. We recommend investors wait for signs of improvement and/or resumption of growth before getting involved...We lower FY12 rev/EPS to $2.90B/$3.43. We introduce our FY13 rev/EPS estimates of $2.84B/$3.36."
For more ratings news on Lam Research click here and for the rating history of Lam Research click here.
Shares of Lam Research closed at $42.22 yesterday.
Needham analyst says, "LRCX reported slightly better than expected F4Q11 (Jun) results but provided poor guidance. While expectation going into the report was low given the environment, the significantly lower shipment outlook is probably worse than the buy-side’s view. Commentary suggests order visibility has further deteriorated, but the company remains confident that this is a nearterm pause rather than a cyclical downturn. Despite the market condition, LRCX is increasing OPEX, leading to a substantial decline in its operating margins. We recommend investors wait for signs of improvement and/or resumption of growth before getting involved...We lower FY12 rev/EPS to $2.90B/$3.43. We introduce our FY13 rev/EPS estimates of $2.84B/$3.36."
For more ratings news on Lam Research click here and for the rating history of Lam Research click here.
Shares of Lam Research closed at $42.22 yesterday.
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