Lam Research Corp
Could the Apollo-ADT Transaction Get Competitive?
The $42 purchase price was a high premium of over 50% to where ADT (ADT) was trading on February 12, 2016, the Friday before the deal was announced.
Lam Research to Acquire KLA-Tencor
KLA-Tencor constitutes ~2.4% of the iShares PHLX Semiconductor ETF (SOXX) and 0.84% of the VanEck Vectors Semiconductor ETF (SMH).
Why Qualcomm May Expand Its Board
Qualcomm (QCOM) held its annual shareholder meeting in March.
Will Applied Materials’ High Revenue Continue in Fiscal 2017?
Applied Materials (AMAT) is currently at the peak of its cycle where it is reporting strong growth from almost all segments.
Parsing Oracle-NetSuite Material Adverse Effect Clause: Part 1
In the merger deal between Oracle (ORCL) and NetSuite (N), the MAE clause lays out the circumstances under which Oracle can back out of the transaction.
Must-know: Greenlight Capital’s 2Q positions
According to a Newswire report, Greenlight Capital reported a 2.9% decline last month. However, it’s up 3.6% for the year. The fund’s second quarter investor letter noted that its technology positions have robust prospects.
Why Greenlight started a new position in Lam Research Corporation
Greenlight disclosed a new position in Lam Research Corporation, which accounts for 1.01% of the fund’s 1Q 2014 portfolio.
KLAC Stock Rises Over 3% on Fiscal Q2 2019 Revenue Beat
The semiconductor market is seeing demand weakness, especially in China. SME (semiconductor manufacturing equipment) suppliers are also seeing demand weakness.
Xilinx and Lam Research: First-Quarter Earnings Highlights
On April 24, Xilinx (XLNX) and Lam Research (LRCX) announced their fiscal earnings for the quarter.
How Applied Materials Could Be Impacted by Export Controls
Both domestic and foreign semiconductor companies have increased their capital spending on fabrication facilities in China (FXI).
Semiconductor Earnings Watch: TER and LRCX
This week, semiconductor equipment suppliers Teradyne Inc. (TER) and Lam Research (LRCX) will report their quarterly earnings.
Could the Lam Research-KLA-Tencor Merger Get Competitive?
In the Lam Research-KLA-Tencor merger, Lam Research is paying about 3.9x trailing-12-month revenues and 14.8x trailing-12-month EBITDA.
Can Applied Materials Maintain High Efficiency Ratios in 2019?
In fiscal 2018, AMAT’s revenue rose 19% YoY to $17.25 billion, while its non-GAAP (generally accepted accounting principle) net income rose 29.6% YoY to $4.57 billion.
Semiconductor Downturn to End AMAT’s Revenue Growth Trend
Analysts expect AMAT’s full-year 2019 revenue to fall 11.5% YoY to $15.27 billion due to weak demand from memory chipmakers and China.
How Analysts View Applied Materials Stock
During its fiscal 1Q18 earnings call, Applied Materials’ CFO, Daniel Durn, stated that the broadening of the semiconductor market would increase WFE spending and reduce its cyclicality.
What Lam Research’s Fiscal 3Q18 Earnings Say about Memory Market
Lam Research (LRCX) was among the first semiconductor companies to release its fiscal 3Q18 earnings for the quarter that ended on March 25.
Investor Reaction to Lam Research’s and TSMC’s 2Q18 Guidance
The semiconductor earnings season started on a negative note with companies at the start of the supply chain reporting weaker guidance.
TXN, LRCX, XLNX: Earnings Boost Confidence in Chip Industry
The fourth-quarter semiconductor earnings season began with warnings of a demand slowdown.
1Q18 Earnings Season: Good News for Semiconductor Investors?
The earnings season started with better-than-expected earnings for semiconductor equipment manufacturer Lam Research (LRCX).
Operating Efficiency Drives Applied Materials’ Profitability
In the March quarter, AMAT had an operating expense ratio of 16.6%, which was the lowest operating expense ratio AMAT has ever achieved.
What Price Ratios Say about Applied Materials’ Stock Valuation
On May 9, AMAT had a forward PE ratio of 12.0x, which is lower than KLAC’s ratio of 13.7x but higher than LRCX’s ratio of ~11.4x.
Five Things to Look for in Micron’s Upcoming Results
Micron Technology (MU) stock is in the spotlight this week, as the company is set to release its fiscal 2019 fourth-quarter results on Thursday after markets close.
Memory Stocks Fell on Samsung’s Weak Q1 Earnings Guidance
Most semiconductor stocks with exposure to the memory market are falling on the back of continued weakness.
Western Digital’s Offer for SanDisk Includes 15% Premium
To acquire SanDisk, Western Digital has offered SanDisk shareholders $86.50 per share. This is approximately 15% premium to SanDisk’s closing share price on October 20, 2015.
How Has JPMNX Performed Relative to Its Peers?
JPMNX suffered a reduction in its NAV between January 2013 and January 2016. GATEX managed to generate positive returns while CVCSX was the worst performer.
The Rise and Fall of Micron Stock after Its Fiscal Q3 Earnings
Micron Technology (MU) delivered record fiscal Q3 2018 earnings and guidance on June 20, beating analysts’ estimates by a good margin.
Would Investing in JPMNX Hamper or Benefit Your Portfolio?
JPMNX’s top holdings include Avago Technologies (AVGO), Lam Research Corporation (LRCX), Verizon Communication (VZ), and Johnson & Johnson (JNJ).
The Impact of US–China Trade Tensions on Applied Materials Stock
Applied Materials (AMAT) earned 21% of its 2016 revenues and 19% of its 2017 revenues from China. Any major shift in this market could hurt AMAT.
Semiconductor Systems: AMAT’s Key Revenue Driver for Fiscal 2018
In fiscal 1Q18, AMAT’s Semiconductor Systems division’s revenue rose 32.6% YoY (year-over-year) to $2.9 billion.
Is the Growth Cycle for Applied Materials Here to Stay?
Trade war jitters between the US and China sent Applied Materials stock to $55.40 on March 23 from its 52-week high of $62.40 on March 12.
AMAT’s Weak Fiscal Q4 2018 Guidance Makes Investors Cautious
Applied Materials, the world’s largest chip manufacturing equipment vendor, reported strong fiscal Q3 2018 earnings but lowered its fiscal Q4 2018 guidance.
Regulatory Path for the Lam Research-KLA-Tencor Merger
In the press release announcing the Lam Research-KLA-Tencor merger, the companies mention they will serve approximately 42% of the wafer fabrication equipment market immediately upon closing.
Intel and Western Digital Stocks Move in Opposite Directions
Semiconductor stocks’ reaction to earnings After bottoming out in December, the stock market has been showing signs of recovery. Semiconductor stocks have been recovering this month due to anticipation that the second half of 2019 will bring growth. However, this week has been very volatile for semiconductor stocks—most companies reported weak earnings and guidance, with just a […]
Reduced Memory Spending to Hit Earnings of AMAT, KLAC, and LRCX
The semiconductor industry is going through a downturn, but many companies expect growth to resume in the second half of 2019.
Applied Materials Stock Rallies on Optimism about H2 2019
In this series, we’ll see what investors should expect from Applied Materials’ upcoming earnings.
Does AMAT Stock Deliver Better Returns than Its Peers?
AMAT increased its stock buyback authorization by $6.0 billion, doubled its dividend per share, and is working to improve its profits to improve its ROE.
XLNX and LRCX Move in Opposite Directions after Earnings
On April 24, several semiconductor stocks made new 52-week highs.
What’s behind Semiconductor Stocks’ Rise?
Most semiconductors stocks had risen more than 2% as of midday today, with several factors having raised investors’ optimism about the sector’s growth.
AMAT’s Semiconductor Systems Revenues May Fall after Peaking
In the fiscal second quarter, AMAT’s Semiconductor Systems division’s revenues peaked at $3.0 billion, accounting for 65.6% of the company’s revenues.
Understanding Applied Materials’ Stock Price Movement
Because Applied Materials (AMAT) is positioned at the beginning of the supply chain, its stock is among the first to be impacted by any industry-wide news.
Top Semiconductor Stocks for the Fourth Quarter of 2020
Behind Applied Materials’ Fiscal 2Q16 Revenue
In fiscal 2Q16, Applied Materials’ (AMAT) revenue was almost flat at $2.45 billion, beating the analyst estimates of $2.43 billion.
What Investors and Analysts Think about AMAT Stock
Applied Materials (AMAT) is witnessing strong growth momentum, with revenues growing in double digits and earnings per share growing in triple digits.
Could the Lexmark Deal Get Competitive?
The consortium’s offer of $40.50 was a 30% premium to Lexmark’s price on October 21, 2015. The deal is the culmination of a six-month process.
Chip Stocks Fall on Fears of a Two-Year Growth Trend Slowdown
NVIDIA and Applied Materials published their latest earnings results on August 16. Their weaker guidances have spooked investors.
Why AMAT Stock Rose 5% despite Weak Q2 Results
Applied Materials (NASDAQ:AMAT) stock gained around 5% in after-hours trading on Thursday following its second-quarter results.
What Tokyo Electron acquisition means for Applied Materials
Applied Materials’s merger with Tokyo Electron is expected to provide Eteris with a 25% market share in the chip manufacturing equipment market.
AMAT Stock Rises: Fourth-Quarter Earnings Takeaways
Applied Materials (AMAT) stock rose 4% after market hours yesterday after the company posted strong fiscal 2019 fourth-quarter results.
Western Digital CEO Retires, Stock Slumps 16%
Today, Western Digital stock (WDC) slumped as much as 16.25% after CEO Steve Milligan announced his sudden retirement. Is the worst over for WDC?
Assessing Greenlight Capital’s 1st quarter 2014 positions
In this series, we’ll go through some of the main positions that Greenlight Capital, founded by David Einhorn, traded in 1Q 2014.
Fab Equipment Industry Outlook: What It Says about Lam Research
Lam Research (LRCX) expects its shipments to fall $100 million sequentially to $3 billion in the June quarter.
Semiconductor Players INTC, LRCX, and TER Rally
Last week, five major semiconductor companies reported their third-quarter earnings results. Three of these five reported upbeat earnings.
eBay, LRCX, and PYPL Stock Movements after Earnings
Tech stocks eBay (EBAY), PayPal (PYPL), and Lam Research (LRCX) are moving in after-hours trading after today’s earnings reports.
Earnings: XLNX and TXN Stocks in Focus This Week
Major chip companies Texas Instruments (TXN) and Xilinx (XLNX) released their earnings last week and saw their stocks fall.
Chip Stocks Rise on TSMC Earnings Beat for Q3
Today, the world’s largest foundry, Taiwan Manufacturing Semiconductor Company or TSMC, released its third-quarter earnings, rallying chip stocks.
Two Semiconductor Stocks Are Crushing It: Time to Sell?
Semiconductor firms Lam Research and KLA Corp. have crushed the markets in 2019. While Lam Research is up 65.4%, KLA has returned 71% year-to-date.
Micron Maintains Strong Financial Position in Fiscal 2019
Micron Technology (MU) reported positive FCF (free cash flow), a strong balance sheet, and double-digit ROI (return on investment) in fiscal 2019.
Micron Slumps 11% after Q4 Earnings, Analysts Upbeat
Micron (MU) stock dipped 11% after its Q4 of fiscal 2019 earnings. This slump occurred after the stock rallied about 20% in September on analysts’ optimism.
Micron: Q4 Earnings Send Semiconductor Stocks Lower
Micron shares fell more than 9% in early market trading today. The stock is trading at $44.09, which is 14% below its 52-week high.
Micron Stock Fell on Disappointing Guidance
Micron Technology reported upbeat fourth-quarter fiscal 2019 results on September 26 after the market closed. Micron stock fell 1.76% to $48.60 on the day.
AMAT Stock Fell More than 4% after Q3 Results
Applied Materials (AMAT) shares have fallen more than 4% on Friday. The company announced its third-quarter results after the market closed on Thursday.
What to Expect from This Week’s Semiconductor Earnings
So far, semiconductor earnings have raised investors’ expectations about growth in the second half and next year.
Goldman Sachs Turns Bullish on Semiconductor Stocks
The US markets are up today as Wall Street braces for a busy earnings week. The S&P 500 ETF is up 0.3%, and semiconductor stocks lead the market’s gains.
Chip Equipment Suppliers’ Stocks Rise despite Micron’s Capex Cut
On June 25, Micron Technology (MU) reported better-than-expected earnings results for the third quarter of fiscal 2019, which sent the stock up 13.3% a day after its earnings release.
What Made Memory Stocks the Top Gains of the S&P 500 Index?
Micron Technology (MU) and Western Digital (WDC) stocks were among the top five gainers of the S&P 500 Index on March 21 in the first half of the trading session.
Can Recently Downgraded Lam Research Afford a Dividend Payout?
Lam Research (LRCX) was recently downgraded to “equal-weight” from “overweight” by Morgan Stanley, according to a note to clients cited by Bloomberg.
Applied Materials’ Q2 Guidance Signals Semiconductor Weakness
On February 14, in after-hours trading, Applied Materials stock fell 2% as its fiscal 2019 second-quarter guidance missed estimates.
Why Western Digital Stock Declined 28.4% in 2018
WDC’s price target was reduced to $75.00 from $100.00, and the stock is trading at $55.76.
Why Samsung May Want to Cut Memory Production
Samsung (SSNLF) is contemplating lowering its memory chip production next year as a measure to manage supply and prices.
Valuation is Going to Get the Market…Eventually
Macro events are always overblown I wrote last week that I did not think Trump’s legal woes would affect the market (SPY) much. I also said two weeks ago that Turkey wouldn’t either. Macro worries are almost always overblown. So far, so good. Yes, volume is low, but market participation is broad and stocks are […]
S&P 500’s Top Gainers: Perrigo and Charles Schwab
Perrigo, which is an American international manufacturer of private label over-the-counter pharmaceuticals, was the S&P 500’s top gainer on July 17.
Why Micron Was Tepper’s Top Buy in Q1 2018
David Tepper’s Appaloosa Management’s top buys in the first quarter were Micron Technology (MU), Lam Research (LRCX), Wells Fargo (WFC), UBS (UBS), and Allergan (AGN).
What’s Applied Materials’ Strategy to Tap the AI Trend?
Applied Materials (AMAT), KLA-Tencor (KLAC), and Lam Research (LRCX) are witnessing strong growth in the memory and logic segments.
China: One of Applied Materials’ Key Revenue Drivers
Applied Materials (AMAT) supplies SME (semiconductor manufacturing equipment) to chip makers all over the world.
Watch out Market, Semiconductors are Trying to Warn Us
Taiwan Semi is warning you Taiwan Semiconductor (TSM) missed and warned today. They lowered 2Q revenue guidance to $7.8-$7.9 billion. The street was at $8.82 billion. They blamed it on smart phone slowing. Mizuho securities also warned today that Apple’s (AAPL) forward guide would have to come down as well. Yesterday, Lam Research’s (LRCX) stock […]
Stocks that are Influencing the Market Midweek
Premium Content As we make it to the middle of the first week of earnings, some interesting trends are developing, some a bit alarming, some decent. The overall market still looks solid with the S&P500 (SPY) now up over 6% since the lows on April 2. The Dow Jones Industrial Average (DIA) held the 200 […]
What’s Contributing to Promising Outlook for Lam Research?
Lam Research’s (LRCX) revenue rose 12% and 36% in 2016 and 2017, respectively. It rose 52% in 1Q18.
Why Foundries Welcome the Artificial Intelligence Revolution
The complexity of AI chips could lead to manufacturing innovation since these chips require larger dimensions and specialized processors.
Why Qualcomm Could Exit the List of Top 5 Cash-Rich Semi Companies
In calendar 3Q17, Qualcomm (QCOM) was the richest semiconductor company in terms of cash, with net cash of $17.9 billion.
This Made Micron One of the Fastest-Growing Semi Stocks of 2017
Generally, growth stocks are the ones that deliver above-average capital appreciation, but such stocks may or may not give dividends.
What’s So Attractive about Micron and Lam Research to Investors?
The semiconductor industry is currently undergoing a major transition toward AI (artificial intelligence), which is opening up new opportunities.
Why Lam Research’s Dividend Yield Has Changed over the Years
Lam Research’s revenue and earnings in 2015 and 2016 Lam Research’s (LRCX) revenue rose 14% and 12% in 2015 and 2016, respectively. Revenue from Taiwan, China, and Southeast Asia drove growth in both years. Revenue from Korea, the United States, and Europe rose in 2015 before falling in 2016, and Japan’s revenue fell in 2015 before rising […]
The Top 5 Cash-Rich Semiconductor Stocks Today
In calendar 2Q17, TSMC (TSM) was the richest semiconductor company in terms of cash, with net cash of $18.5 billion.
Two Newcomers in the Top 5 Fastest-Growing Semiconductor Stocks
As of September 12, 2017, Nvidia (NVDA) was the fastest-growing stock, rising 185% over the past year, compared to the industry’s 32% growth.
Inside the Top 5 Most Volatile Semiconductor Stocks
Intel (INTC) is the world’s largest semiconductor company and also the least volatile semiconductor stock, though it has a beta of 1.23.
Understanding the Role of AMAT, LRCX, and KLAC in Semiconductor Growth
According to SEMI’s estimates, the global semiconductor market is expected to grow at a CAGR (compound annual growth rate) of 6.7% between 2015 and 2025.
What AMAT’s Price Ratios Say about Its Valuation
On August 7, 2017, AMAT had a PS ratio of ~3.7x.
Is AMAT Losing Market Share to Lam Research and KLA-Tencor?
The emergence of the IoT (Internet of Things), self-driving cars, AR/VR (augmented/virtual reality), and AI (artificial intelligence) is driving demand for logic and memory chips.
What AMAT’s Sequential Revenue Growth Indicates
Applied Materials (AMAT) witnessed strong 45% year-over-year growth in 1Q17 while the overall SME market witnessed growth of 110% YoY.
Could AMAT Achieve New Revenue Milestones in Fiscal 2017?
Applied Materials’ revenues rose 45% year-over-year to $3.5 billion in fiscal 2Q17, as its foundry and display equipment sales rose in triple digits.
What Pushed Applied Materials’ Stock Price to a 17-Year High
Applied Materials (AMAT) stock has risen 86% over the past 12 months to the 17-year high of $44. In this series, we’ll look at the factors driving Applied Materials’ fiscal 2017 earnings.
Why Analysts and Investors Are Optimistic about AMAT Stock
In 2016, AMAT stock rose 92.2%, outperforming the stocks of LRCX and KLAC, which rose 50% and 20.6%, respectively.
What AMAT’s Balance Sheet Says about Its Financial Position
AMAT’s FCF (free cash flow) increased significantly in fiscal 2Q16 when the company started reporting revenue growth after several quarters of decline.
How the Transition to 3D NAND Could Affect AMAT’s Memory Business
Another segment driving the Semiconductor Systems’ growth is the memory business.
How ASML’s EUV Technology Could Threaten AMAT’s Foundry Business
ASML is seeing strong demand for its EUV technology and the strong demand was reflected in its latest fiscal 4Q16 earnings.
These Factors Could Improve AMAT’s Profitability in 2017
For fiscal 1Q17, AMAT expects its non-GAAP (generally accepted accounting principles) gross margin to rise 43.8% from 43.7% in fiscal 4Q16.
Globalstar Rose as the FCC Reviews Its Revised Proposal
The S&P 500 Telecom Services sector rose 1.1% on December 19. Globalstar (GSAT) and Iridium (IRDM) were the top performers in the telecom sector.
Will Strong EPS Push AMAT’s Cash Flows in Fiscal 4Q16?
The company aims to increase its EPS (earnings per share) from an estimated $1.75 in fiscal 2016 to $2.8 in fiscal 2019, growing at a CAGR (compounded annual growth rate) of 17%.
How Much Are Production Cycles Impacting Applied Materials’ Earnings?
Applied Materials’ earnings will likely increase in 2016 as the overall semiconductor industry transitions to new technology.
Oracle Announces NetSuite Acquisition: Cloud Gets Bigger
On July 28, 2016, Oracle (ORCL) and NetSuite (N) announced a merger. Oracle will purchase NetSuite for $109 per share, or $8.6 billion net of cash and debt.