Lam Research Poised For 'Solid Start To The Year' As 3 Analysts Discuss Q4 Print
Portfolio Pulse from Priya Nigam
Lam Research Corporation (NASDAQ:LRCX) reported strong Q4 results, leading to a spike in its share price. Analysts from Bernstein, KeyBanc Capital Markets, and Needham provided positive feedback on the company's performance, with Bernstein raising its price target from $500 to $550. The company's gross margins were higher than expected due to cost savings and a favorable mix. Lam Research also raised its 2023 WFE outlook to the mid-$70bn range, driven by the strength of the China domestic and HBM markets.
July 27, 2023 | 3:13 pm
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POSITIVE IMPACT
Lam Research's strong Q4 results and positive analyst feedback could lead to a short-term increase in its stock price. The company's raised 2023 WFE outlook and higher than expected gross margins are also positive indicators.
The company's strong Q4 results and positive feedback from analysts are likely to increase investor confidence, potentially leading to a short-term increase in the stock price. Additionally, the company's raised 2023 WFE outlook and higher than expected gross margins indicate a strong financial position, which could further boost the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100