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Jerome Dodson Comments on Lam Research

- By Holly LaFon

Semiconductor-manufacturing equipment-maker Lam Research (NASDAQ:LRCX) contributed 172 basis points to the Fund's performance, as its stock rose from $136.17 to $179.01, yielding a total return of 32.3%. Earnings beat investor expectations for the 21st quarter in a row, driven by strong growth in Lam's base of installed equipment. Guidance also remained upbeat, despite a slowdown in shipments due to inventory digestion. We view Lam's shares as attractively valued, especially because today's technological advancements require device makers to pay more for their manufacturing equipment.


From Jerome Dodson (Trades, Portfolio)'s Parnassus Endeavor Fund first-quarter 2019 shareholder commentary.
This article first appeared on GuruFocus.