Needham Expects Lam Research (LRCX) to Lower Guidance, Maintains Buy, Cuts PT
Tweet
Share
E-mailGet Alerts LRCX Hot Sheet
Price: $332.36 --0%
Rating Summary:
33 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 13 | New: 19
Rating Summary:
33 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 13 | New: 19
Join SI Premium – FREE
Analysts at Needham & Company maintained a Buy on Lam Research (NASDAQ: LRCX) but trimmed their price target to $38.00 (from $42.00).
"We expect results to meet Street’s estimates, but we anticipate weaker F2Q guidance, based on pushouts of Samsung Austin and no recovery in memory spending," said analyst Y. Edwin Mok.
However, Mok thinks downside is largely expected by investors, and he anticipates shipments will improve next year as spending returns.
"We believe buy-side expectations on top-line growth and operating margin improvement are relatively low, and we expect the stock to rebound with the return of investor confidence in the sector," said Mok.
Needham lowered 2013 revenue and EPS from $4.08B/$2.74 to $3.83B/$2.18 and 2014 estimates from $4.55B/$4.32 to $4.05B/$3.12.
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 $32.26 yesterday.
"We expect results to meet Street’s estimates, but we anticipate weaker F2Q guidance, based on pushouts of Samsung Austin and no recovery in memory spending," said analyst Y. Edwin Mok.
However, Mok thinks downside is largely expected by investors, and he anticipates shipments will improve next year as spending returns.
"We believe buy-side expectations on top-line growth and operating margin improvement are relatively low, and we expect the stock to rebound with the return of investor confidence in the sector," said Mok.
Needham lowered 2013 revenue and EPS from $4.08B/$2.74 to $3.83B/$2.18 and 2014 estimates from $4.55B/$4.32 to $4.05B/$3.12.
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 $32.26 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades Workday (WDAY) to Hold
- Needham Starts Pulse Biosciences (PLSE) at Buy
- High Liner Foods Inc. (HLF:CN) (HLNFF) PT Raised to Cdn$17.50 at BMO Capital
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Needham & CompanySign 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!
