Mizuho lowered the firm’s price target on Lam Research to $520 from $525 and keeps a Buy rating on the shares. The company reported March quarter results in line and issued "soft" June quarter guidance with headwinds mainly in memory, the analyst tells investors in a research note. However, the firm believes Lam’s foundry and logic share gains offset near-term memory weakness and could position it better medium-term.
Published first on TheFly
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Read More on LRCX:
- Lam Research Jumps as Analysts Anticipate the Bottom
- Lam Research Corporation Reports Financial Results for the Quarter Ended March 26, 2023
- Lam Research sees June quarter adjusted EPS $5.00 +/- 75c, consensus $5.63
- Lam Research reports March quarter adjusted EPS $6.99, consensus $6.54
- Lam Research options imply 3.7% move in share price post-earnings
