Lam Research Faces Analyst Scrutiny Over Near-Term Margin and China Demand Uncertainties
Portfolio Pulse from Anusuya Lahiri
Lam Research Corp (LRCX) reported Q1 earnings of $6.85 per share, beating the consensus estimate of $6.07. The company also reported quarterly sales of $3.48 billion, beating the analyst consensus estimate of $3.41 billion. Despite this, the company's shares fell by 4.51% due to concerns over near-term margin and China demand uncertainties. Analysts from B. Riley Securities, Needham, Raymond James, and Susquehanna provided mixed reviews and price targets ranging from $615 to $800.
October 19, 2023 | 5:11 pm
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Despite beating Q1 earnings and sales estimates, LRCX's shares fell due to concerns over near-term margin and China demand uncertainties. Analysts provided mixed reviews and price targets ranging from $615 to $800.
LRCX's Q1 earnings and sales beat estimates, which would typically drive the stock price up. However, concerns over near-term margin and China demand uncertainties have led to a decrease in the stock price. The mixed reviews and price targets from analysts also contribute to the uncertainty surrounding the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100