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Lam Research Expects 2024 To Be A ‘Transition Year,’ 4 Analysts Provide Key Q3 Takeaways

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Lam Research Corporation (NASDAQ:LRCX) reported better-than-expected results for its fiscal third quarter.

Here are some key analyst takeaways from the results, which came amid an exciting earnings season.

  • Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating, while raising the price target from $935 to $960.
  • Raymond James analyst Srini Pajjuri maintained an Outperform rating and price target of $960.
  • Needham analyst Charles Shi reaffirmed a Buy rating and price target of $950.
  • KeyBanc Capital Markets analyst Steve Barger reiterated a Sector Weight rating on the stock.

Check out other analyst stock ratings.

Mizuho Securities: Lam Research reported “good” results for its March quarter, with revenues and earnings of $3.8 billion and $7.79 per share, higher than the consensus of $3.72 billion and $7.30 per share, respectively, Rakesh said in a note.

Gross margin …

Full story available on Benzinga.com

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