Lam Research Expects 2024 To Be A 'Transition Year,' 4 Analysts Provide Key Q3 Takeaways
Portfolio Pulse from Priya Nigam
Lam Research Corporation (NASDAQ:LRCX) reported fiscal third quarter results surpassing expectations with revenues of $3.8 billion and earnings of $7.79 per share. Analysts from Mizuho Securities, Raymond James, Needham, and KeyBanc provided positive outlooks, citing good performance, healthy demand from China, and a strong future growth potential, especially in 2025 driven by NAND recovery and technology inflections. The company's shares rose by 2.44% to $906.47 following the announcement.
April 25, 2024 | 5:57 pm
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POSITIVE IMPACT
Lam Research exceeded Q3 expectations with revenues and earnings above consensus, driven by strong demand, particularly from China. Analysts remain bullish, raising price targets and forecasting robust growth into 2025.
The positive earnings report and optimistic analyst ratings, especially regarding future growth prospects and demand from China, suggest a strong short-term positive impact on LRCX's stock price. The company's strategic positioning for 2025 and technology advancements further bolster investor confidence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100