TD Cowen Lowers Lam Research (LRCX) Price Target, Keeps Buy Rating

Lam Research Corporation (NASDAQ:LRCX) is one of the 10 Best American Semiconductor Stocks to Buy Now. On April 24, TD Cowen reduced the price target for Lam Research Corporation (NASDAQ:LRCX) from $110 to $100 but kept a “Buy” rating.

TD Cowen analysts noted that key catalysts for Lam Research Corporation’s (NASDAQ:LRCX) future growth include higher deposition/etch intensity and a recovery in NAND Wafer Fabrication Equipment (WFE). The analysts also pointed out that the company’s guidance for the June quarter was strong and it beat consensus revenue estimates by 9%. This was mainly supported by strong demand in the NAND and Foundry markets, including Chip on Wafer on Substrate (CoWoS) and Gate-All-Around (GAA) technologies.

The firm’s analysts see these results as good news for Lam Research Corporation (NASDAQ:LRCX), which is focusing on growing its market share in the Foundry segment.

Lam Research Corporation (NASDAQ:LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry.

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