JPMorgan lowered the firm’s price target on Lam Research to $700 from $720 and keeps an Overweight rating on the shares. The analyst says Lam delivered better September quarter revenue, margins and earnings results and better December quarter guidance driven by better DRAM and specialty logic. The firm believes customer pushouts and cancellations of orders and backlog have normalized and overall customer utilizations have stabilized.
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Read More on LRCX:
- Lam Research (NASDAQ:LRCX) Gets Wall Street Backing after Shares Dive
- Lam Research Corporation Reports Financial Results for the Quarter Ended September 24, 2023
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- Lam Research reports Q3 non-GAAP EPS $6.85, consensus $6.12
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