Mizuho analyst Vijay Rakesh raised the firm’s price target on Lam Research to $525 from $500 and keeps a Buy rating on the shares. The company reported a good December quarter but guided to a disappointing March quarter, the analyst tells investors in a research note. The firm believes Lam could see the trough in the March quarter, with a better foundry/logic rebound into the second half of 2023.
Published first on TheFly
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Read More on LRCX:
- Lam Research announces restructuring, 7% workforce reduction
- Lam Research Corporation Reports Financial Results for the Quarter Ended December 25, 2022
- Lam Research sees March quarter adjusted EPS $6.50 +/- 75c, consensus $7.88
- Lam Research reports December quarter EPS $10.71, consensus $9.96
- Lam Research options imply 3.9% move in share price post-earnings
