Shares of Lam Research Corp (LRCX, Financial) surged 3.92% in mid-day trading on Oct 2. The stock reached an intraday high of $830.37, before settling at $828.66, up from its previous close of $797.40.
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Lam Research's technology innovation drive boosts prospects amid macroeconomic headwinds.
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Zacks.com users have recently been watching Lam Research (LRCX) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Lam Research (LRCX) closed the most recent trading day at $784.08, moving +1.41% from the previous trading session.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
Lam Research is a strong buy due to its significant price drop, robust earnings growth outlook, and potential for margin expansion. The stock's double bottom at $714 and positive PPO divergence signal a bullish trend, despite recent underperformance against the semiconductor group. Lam's valuation is attractive, with potential for a strong year-end rally supported by seasonality and modest expectations for the upcoming earnings report.
The latest trading day saw Lam Research (LRCX) settling at $758.47, representing a -1.46% change from its previous close.
Lam Research is poised to benefit from the memory capex cycle recovery, supported by year-over-year growth acceleration from 4Q FY2024 into FY2025. The memory semiconductor market is rebounding, with projections of $204 billion by 2025, providing a growth tailwind for LRCX, particularly for NAND and DRAM. Management indicates that non-GAAP gross margin and operating margin are expected to decline in 1H FY2025 due to changes in the customer mix.
Lam Research Corporation (NASDAQ:LRCX ) Goldman Sachs Communacopia & Technology Conference Call September 11, 2024 11:10 AM ET Company Participants Doug Bettinger - Executive Vice President & Chief Financial Officer Conference Call Participants Toshiya Hari - Goldman Sachs Toshiya Hari Okay. Good morning, everyone.