|Bid||206.99 x 1300|
|Ask||207.10 x 1200|
|Day's Range||206.55 - 209.65|
|52 Week Range||122.64 - 209.65|
|Beta (3Y Monthly)||1.57|
|PE Ratio (TTM)||12.82|
|Earnings Date||Jul 31, 2019|
|Forward Dividend & Yield||4.40 (2.12%)|
|1y Target Est||218.21|
Memory companies appear to be depleting their NAND inventories more quickly than anticipated, and that’s good news for Micron Technology Inc., according to Goldman Sachs.
Let's talk about the popular Lam Research Corporation (NASDAQ:LRCX). The company's shares led the NASDAQGS gainers...
Also, defense industry names can breathe easier with word of debt ceiling and federal spending deal.
The Dow Jones Industrial Average lagged the Nasdaq composite as the latter got a bigger boost from chip stocks. Data storage and telecom shares rose.
The US markets are up today as Wall Street braces for a busy earnings week. The S&P; 500 ETF is up 0.3%, and semiconductor stocks lead the market's gains.
Semiconductor equipment stocks are trading higher Monday after (GS) turned positive on the sector. It expects a pickup in demand from memory chip manufacturers starting in 2020. Note that Goldman Monday also upped its rating on (MU) (MU), as well as the South Korean memory chip maker (000660) (000660.Korea).
The semiconductor stock group got a boost Monday when Goldman Sachs updated its coverage on some popular names. The Analysts Goldman analyst Mark Delaney upgraded Micron Technology, Inc. (NASDAQ: MU ) ...
The Nasdaq led stocks higher Monday as three chip stock upgrades sweetened early trade. Disney topped the Dow Jones industrial index.
(Bloomberg) -- Semiconductor companies could see an improvement in inventory levels faster than previously anticipated, according to Goldman Sachs, which upgraded a number of companies “on early signs of memory stabilization.”Micron Technology Inc. was lifted to buy from neutral, as were Lam Research Corp. and Applied Materials Inc., the latter of which was added to Goldman’s Conviction List. KLA Corp. was upgraded to neutral from sell.“We are now more positive on global memory stocks as we believe that the excess inventory memory companies are carrying will be depleted faster than our previous expectations,” wrote analyst Mark Delaney, who pointed to a June outage at Toshiba Memory Corp. that had reduced production. This power failure was also seen as providing support to pricing and inventory levels at Western Digital Corp.While Goldman had previously expected supply and demand for NAND memory chips to improve in 2020, “our most recent industry discussions suggest that NAND pricing could start to improve from low levels” in the third quarter of 2019. According to data compiled by Bloomberg, Micron derived more than 25% of its 2018 revenue from trade NAND chips.Micron “is the best stock to express our view” on improving memory trends, the firm wrote, raising its price target to $56 from $40. Shares gained 3.6% to trade at their highest level since September. The stock is up more than 40% from a low in late June, and is poised for its fourth straight positive session.Applied Materials gained 3.8%, while KLA rose 1.3%. Lam jumped 3.2% and was on track for its ninth positive session of the past 10 trading days.“While visibility is limited in the near term and, we see downside to 2H19/2020 Street estimates, we believe disciplined supply-side actions from the memory manufacturers” will support both improvements in supply and demand, as well as higher levels of Wafer Fab Equipment spending in 2020, Goldman wrote.The firm also lifted its price target on Western Digital to $54 from $46, but kept its neutral rating, citing “better valuation support for Micron,” as well as a recently rally in Western’s stock, which Goldman wrote had priced in improving fundamentals.(Updates to market open in fifth and sixth graphs)To contact the reporter on this story: Ryan Vlastelica in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Goldman Sachs analyst Toshiya Hari upgraded Applied Materials Inc. and Lam Research Corp. shares to buy from neutral on Monday, while also upgrading KLA Corp. shares to neutral from sell. His increasing conviction on the sector reflects his view that the memory market is showing early signs of stabilization. "Predicated on our improved outlook in memory as well as our view that competitive dynamics will keep logic/foundry spending elevated, we now forecast the [wafer fab equipment] market to grow 7% year over year in 2020, up from our prior assumption of flat year over year," Hari wrote. He expects that more "disciplined" actions from memory manufacturers, including capital-expenditure cuts, will improve the memory supply/demand balance sooner than he previously expected and driver higher levels of wafer-fab equipment spending. Hari elevated Applied Materials shares to Goldman's conviction list in conjunction with the upgrade. Applied's shares have risen 46% so far this year, as the S&P 500 has gained 19%.
Goldman Sachs analyst Toshiya Hari turns bullish on the semiconductor capital equipment sector that is headed by Applied Materials, Lam Research and KLA.
These stocks are likely to endure sharp revenue declines in the next 12 months as demand weakens and the U.S.-China trade dispute drags on.
Much of it occurs when someone jumps the gun, deciding that the headlines must be traded without any knowledge of what is underneath them.
In a packed Shanghai classroom on a hot afternoon, nearly a hundred "mom-and-pop" investors were honing their trading skills ahead of the first opening bell for China's Nasdaq-style tech board. Eight months after President Xi Jinping unveiled plans for Shanghai's technology innovation board, the first batch of 25 companies - ranging from chip-makers to biotech firms - will debut on the STAR Market. Modeled after Nasdaq, and complete with a U.S-style IPO system, STAR may be China's boldest attempt at capital market reforms yet.
FREMONT, Calif., July 10, 2019 -- Lam Research Corp. (NASDAQ: LRCX) today announced that the company will host its quarterly financial conference call and webcast on Wednesday,.
Lam Research Corp NASDAQ/NGS:LRCXView full report here! Summary * Bearish sentiment is low and declining * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is low for LRCX with fewer than 5% of shares on loan. Additionally, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on June 14. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $6.54 billion over the last one-month into ETFs that hold LRCX are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Technology sector is rising. The rate of growth is very weak relative to the trend shown over the past year, and has continued to ease. However, the rate of expansion may accelerate in the coming months. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Shares of Applied Materials Inc. and Lam Research Inc. are falling in premarket trading Monday after D.A. Davidson analyst Thomas Diffely cut his ratings on both stocks to sell as part of a broader downgrade of the chip-equipment industry. " We are moving to a neutral stance on the semiconductor capital equipment group this morning as the stocks have appreciated significantly YTD while the all-important memory recovery continues to lag expectations and the near term data flow will likely remain negative," he wrote. "There is significant uncertainty in the timing and magnitude of the wafer fab equipment (WFE) recovery and we believe the equipment names will remain largely range-bound until some clarity returns." Diffely said that the sharp gains in semiconductor-equipment shares have "clearly" outpaced the fundamentals. Applied Materials shares have climbed 34% so far this year, while Lam Research shares have risen 35% and the S&P 500 has gained 19%.
Today we'll look at Lam Research Corporation (NASDAQ:LRCX) and reflect on its potential as an investment...
The investment firm is wary of the sector, citing stocks' year-to-date rise and other factors. But it remains bullish on the industry longer term.
Lam Research (LRCX) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.