Lam Research (LRCX) Tops Q1 EPS by 3c

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Go back to Lam Research (LRCX) Tops Q1 EPS by 3c

Lam Research (LRCX) 'Very Bullish' on C115; Cowen Sees Shares Cheap Around $70

October 23, 2014 10:01 AM EDT

Cowen and Company affirms Lam Research (Nasdaq: LRCX) at Outperform with a price target of $85 following Q115 results.

Analyst Timothy Arcuri noted that Q1 EPS of $0.96 topped his estimate by 1 cent. revenue and GM were spot in-line but lower tax rate offset higher R&D spending relative to our model. Ships also spot in-line as Q/Q increase in foundry was offset by declines in memory shipments.

Arcuri noted that Q2 EPS... More