Lam Research (LRCX) PT Raised to $705 at Mizuho Securities

April 22, 2021 6:21 AM EDT
Get Alerts LRCX Hot Sheet
Price: $630.54 +2.12%

Rating Summary:
    27 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 38 | Down: 18 | New: 7
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Mizuho Securities analyst Vijay Rakesh raised the price target on Lam Research (NASDAQ: LRCX) to $705.00 (from $575.00) while maintaining a Buy rating.

The analyst commented, "LRCX reported a good MarQ and guided to a solid JunQ top line of $4.0B, well above consensus $3.7B with strong equipment orders. LRCX noted strength in Foundry/Logic spending, share gains in conductor etch, and multi-stack deposition and etch wins at major Memory OEMs.

LRCX raised 2021 WFE to ~$75B, up 23%+ y/y and above prior expectations, 2H-loaded as previously noted. New greenfield foundry opportunities, with $100B capex planned over three years at TSMC and $20B at INTC, position LRCX well."

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