BofA, Needham Cut Lam Research Targets After Supply Warning

BofA Securities and Needham cut their Lam Research price targets on Thursday, Oct. 22, while keeping Buy ratings, after the chip-equipment maker's December-quarter outlook included supply constraints. BofA's target is now $345, down from $385. Needham set its target at $290, compared with $390 previously. The firms kept their ratings unchanged. Lam forecast revenue of $8.60 billion for the quarter ending Dec. 27, with a $400 million range above or below that figure. It projected non-GAAP diluted earnings of $2.33 per share, plus or minus 15 cents.

Source: TokenPost