Needham & Company Maintains a 'Hold' on Lam Research (LRCX); Margin Compression Likely to Keep the Stock in Check
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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 largely inline F1Q12 (Sep) results and provided guidance below consensus. Commentary confirmed improvement of foundry/logic orders, but memory remains challenging. Despite weaker market conditions, LRCX continues to increase long-term investment, leading to a substantial decline of operating margins. While a sizable buyback effort will support the stock, we recommend investors wait for operating leverage improvement and a resumption of growth before getting involved."
"Adjusting our estimates. We raise our FY12 rev/EPS to $2.55B/ $2.12 on a better C1H12 outlook, and adjust FY13 to $2.68B/$3.15."
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 $42.63 yesterday.
Needham analyst says, "LRCX reported largely inline F1Q12 (Sep) results and provided guidance below consensus. Commentary confirmed improvement of foundry/logic orders, but memory remains challenging. Despite weaker market conditions, LRCX continues to increase long-term investment, leading to a substantial decline of operating margins. While a sizable buyback effort will support the stock, we recommend investors wait for operating leverage improvement and a resumption of growth before getting involved."
"Adjusting our estimates. We raise our FY12 rev/EPS to $2.55B/ $2.12 on a better C1H12 outlook, and adjust FY13 to $2.68B/$3.15."
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 $42.63 yesterday.
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