Mizuho Securities analyst Vijay Rakesh reiterated a Hold rating on Lam Research (NASDAQ: LRCX) today and set a price target of $165. The company’s shares opened today at $147.18, close to its 52-week low of $135.99.
Rakesh said:
“We believe N-T soft DRAM pricing and NAND pricing soft into 2H19 could be a Capex headwind. As we show in Exhbit-1, we see DRAM/NAND Capex pushouts. For LRCX, memory capex was ~77% of revenue. China overall strong but domestic spending could be weaker. LRCX noted China was strong at ~25% of total revenue with relatively balanced contributions from Memory, Foundry and Logic. China is expected to be up y/ y into 2019E, though we believe domestic China memory spend could be down y/y with YMTC’s challenges.”
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 23.1% and a 59.7% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Cypress Semicon.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lam Research with a $210.33 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $234.88 and a one-year low of $135.99. Currently, Lam Research has an average volume of 2.86M.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.
