Lam Research Corp.

Lam Research is a supplier of wafer fabrication equipment and services to the semiconductor industry. The company designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company's customer base includes semiconductor memory, foundry, and integrated device manufacturers that make products such as non-volatile memory, dynamic random-access memory, and logic devices. The company's services include customer service, spares, improvement, and refurbishment of its deposition, etch, and clean products. The company sells its products and services to companies in the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan.
  • TickerLRCX
  • ISINUS5128071082
  • ExchangeNASDAQ Stock Market
  • SectorTechnology Hardware & Equipment
  • CountryUnited States

Analysts

Angelo Zino

Lam Research Corporation

ValuEngine Rating and Forecast Report for LRCX

ValuEngine Rating and Forecast Report for LRCX

Angelo Zino

Lam Research Corporation

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Treasury yields tell the tale As Treasury yields began moving off the lows on 9/5/19 due to a variety of factors, investors took profits from large-caps, growth, and defensives and migrated to small-caps, value, and cyclicals. This was a shift from areas of obvious leadership to areas that had been left for dead, something that, if it can continue, would greatly improve the prospects of a broad-based move higher. However, a primary concern of ours is whether this shift has staying power. As we highlight below, we believe the jury is still out, leaving our overall neutral outlook intact. • Tr...

Lam Research Corp. - June 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Lam Research Corp.: Lam Research’s results show improved cyclical performance

Stronger performance through cycles

Lam Research Corp. - March 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Moody's assigns A3 to Lam Research's proposed sr unsec debt; outlook stable

Rating Action: Moody's assigns A3 to Lam Research's proposed sr unsec debt; outlook stable. Global Credit Research- 25 Feb 2019. New York, February 25, 2019-- Moody's Investors Service, assigned an A3 senior unsecured rating to Lam Research Corp.' s proposed debt offering.

Lam Research Corp. - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Angelo Zino

Lam Research Corporation

Angelo Zino

Lam Research Corporation

Valens Research

Valens Equity Insights and Inflections - 2019 08 28

JBL currently trades below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 13.5x Uniform P/E. At these levels, the market is pricing in expectations for Uniform ROA to fall from 10% in 2018 to 5% by 2023, accompanied by 4% Uniform Asset growth. Meanwhile, analysts have less bearish expectations, projecting Uniform ROA to only fade to 9% levels through 2020, accompanied by 3% Uniform Asset growth. That said, management is confident about their growth trajectory, EPS, and operating income. Current valuations appear to be pricing in the worst-case scenario for JBL, and shoul...

Angelo Zino

Lam Research Corporation

Valens Research

LRCX - Embedded Expectations Analysis - 2019 08 21

Lam Research Corporation (LRCX:USA) currently trades well below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 14.2x Uniform P/E. At these levels, the market has bearish expectations for the firm, and although management has concerns about EPS, demand, and market share, potential macro tailwinds and competitive niches in flash storage suggest longer-term upside remains warranted. Specifically, management may lack confidence in the sustainability of recent cash flow generation levels, and they may be concerned about the sustainability of recent demand for 7 and 5 nanomet...

ValuEngine Rating and Forecast Report for LRCX

ValuEngine Rating and Forecast Report for LRCX

For LAM RESEARCH CORP., the environment deterioration entails a downgrade to Neutral

LAM RESEARCH CORP. (US), a company active in the Semiconductors industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 4 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date September 3, 2019, the closing price was USD 212.94 and its expected value was estimated at USD 198.73.

Angelo Zino

Lam Research Corporation

ValuEngine Rating and Forecast Report for LRCX

ValuEngine Rating and Forecast Report for LRCX

ValuEngine Rating and Forecast Report for LRCX

ValuEngine Rating and Forecast Report for LRCX

Dave Nicoski ...
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Treasury yields tell the tale As Treasury yields began moving off the lows on 9/5/19 due to a variety of factors, investors took profits from large-caps, growth, and defensives and migrated to small-caps, value, and cyclicals. This was a shift from areas of obvious leadership to areas that had been left for dead, something that, if it can continue, would greatly improve the prospects of a broad-based move higher. However, a primary concern of ours is whether this shift has staying power. As we highlight below, we believe the jury is still out, leaving our overall neutral outlook intact. • Tr...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Macro Vision: U.S. Equity Strategy

STRATEGY: Rotations in Progress As we write this, fears of a reprisal attack by Saudi Arabia are being priced into the markets. Oil is surging on the back of the largest ever supply disruption in history. Investment managers are likely caught on the wrong side of the Energy Sector move and were very underweight as the Sector's performance has, year-to-date, been nothing but an anchor on performance. The age old adage of “parabolic moves often don't end well” can be applied to those areas going in either direction, up or down. These events as we have seen throughout history often mark a top...

Dave Nicoski ...
  • Ross LaDuke

Insights: Bullish Stocks

Semiconductors breaking out -- add exposure/overweight Relative strength for the PHLX Semiconductor index began a bottoming process in November of 2018. In mid-December, we pointed out that RS for the index was bottoming and making a bullish inflection, recommending XLNX and INTC. Since then we have expanded our recommendations substantially and upgraded Technology to overweight in late-January. Despite four months of outperformance, we believe the move for semis is just beginning. Below we lay out what we believe is a compelling case to add exposure at current levels. • Tech is our favorite...

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