Analyst Joseph Quatrochi from Wells Fargo maintained a Hold rating on Lam Research (LRCX – Research Report) and keeping the price target at $85.00.
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Joseph Quatrochi has given his Hold rating due to a combination of factors regarding Lam Research’s financial outlook and market positioning. While Lam’s Investor Day provided a comprehensive overview of its product portfolio and strategic goals, the feedback from investors was mixed. Some were expecting more detailed insights, particularly concerning the timing of the substantial $40B investment needed for 3D NAND upgrades, which remains a topic of debate among investors.
Additionally, the projected growth rates for Lam’s WFE (Wafer Fabrication Equipment) and CSBG (Customer Support Business Group) were met with varied opinions. While the company’s anticipated expansion in SAM (Serviceable Available Market) opportunities was seen positively, investors are keen to better understand how Lam will achieve its target gross margins and the implications of its manufacturing footprint. These elements combined have contributed to the Hold rating, as stakeholders continue to assess the balance of potential risks and rewards in Lam’s future financial performance.
In another report released today, Barclays also maintained a Hold rating on the stock with a $75.00 price target.
LRCX’s price has also changed dramatically for the past six months – from $881.280 to $87.660, which is a -90.05% drop .