Seeking Alpha

Lam Research gains on bullish analyst day comments

  • Lam Research (LRCX +2.7%) guides during its 2014 analyst day (webcast) for $1B in 2014 operating cash flow, and for 2H14 revenue growth to be on par with 1H growth. The company also expresses confidence its recent share gains will continue.
  • Shares are making fresh 52-week highs on an ugly day for tech. They soared in April following an FQ3 beat and bullish CC commentary, and rose two weeks ago following a Cowen PT hike.
  • Lam's outlook comes as the chip equipment industry's Semicon West conference gets underway. Industry commentary has been largely (but not uniformly) bullish going in.
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