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LRCX

Lam Research Corporation

6/20/2013, 2:16 AM ET

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Thursday, April 25, 11:57 AM Lam Research (LRCX +6.2%) makes new 52-week highs after beating FQ3 estimates, issuing strong guidance, and announcing a $250M buyback plan (good for buying 3.4% of shares at current levels). On its earnings call, Lam guided for FQ4 revenue of $945M-$1.005B and EPS of of $0.63-$0.77, above a consensus of $914.1M and $0.61. Foundry clients (such as big-spending TSMC) made up 56% of shipments, up from 51% in FQ2, and memory makers 31%, up from 20%. Chip equipment peers are up, taking heart in the numbers posted by Lam (and to a lesser extent) Mattson (MTSN +5.8% - earnings). AMAT +3.6%. KLAC +2.2%. ASML +2.5% (previous). CYMI +2%. RTEC +2.4%. UTEK +1.4%. Comment! [Tech, Earnings, On the Move]
Wednesday, April 24, 4:20 PM Lam Research (LRCX): Q1 EPS of $0.44 beats by $0.08. Revenue of $844.9M (-2% Y/Y) beats by $7.24M. Shares +2.3% AH. (PR) Comment! [Earnings, Breaking News, Tech, On the Move]
Wednesday, April 24, 12:10 AM Notable earnings after Wednesday’s close: AFL, AIZ, AKAM, ANGI, ARII, ARRS, ASGN, AVG, BAS, BDN, CAKE, CCI, CDNS, CLF, CLGX, CMO, CMRE, COG, CROX, CTXS, DRE, DRWI, EFX, EQIX, FFIV, FIO, FLS, GGG, INFN, ISIL, ITMN, JAH, KEX, LOGI, LPS, LRCX, LSI, MLNX, NEU, NOW, OIS, ORLY, OTEX, PDH, PMTC, QCOM, RJF, RYL, SCI, SKX, SRCL, SUSQ, SYK, TAL, TER, TEX, TQNT, TSCO, TWI, VAR, WCN, WDC, WLL, XLNX, XNPT, ZNGA 1 Comment [Earnings]
Tuesday, April 23, 5:35 PM Notable earnings after Wednesday’s close: AFL, AIZ, AKAM, ANGI, ARII, ARRS, ASGN, AVG, BAS, BDN, CAKE, CCI, CDNS, CLF, CLGX, CMO, CMRE, COG, CROX, CTXS, DRE, DRWI, EFX, EQIX, FFIV, FIO, FLS, GGG, INFN, ISIL, ITMN, JAH, KEX, LOGI, LPS, LRCX, LSI, MLNX, NEU, NOW, OIS, ORLY, OTEX, PDH, PMTC, QCOM, RJF, RYL, SCI, SKX, SRCL, SUSQ, SYK, TAL, TER, TEX, TQNT, TSCO, TWI, VAR, WCN, WDC, WLL, XLNX, XNPT, ZNGA Comment! [Earnings]
Tuesday, April 16, 5:19 PM Chip equipment stocks slip a little in AH trading after Intel lowers its 2013 capex budget range by $1B to $11.5B-$12.5B. AMAT -1.2% AH. KLAC -0.8%. LRCX -0.7%. (previous) Comment! [Tech, On the Move]
Thursday, April 11, 10:22 AM An upgrade to Outperform from Cowen puts Lam Research (LRCX +3%) within striking distance of its 52-week high. Some other chip equipment makers are also outperforming a bit, as investors continue to bet the industry will benefit from an arms race between Intel, TSMC, and Samsung. ASML +1.5%. CYMI +1.2%. KLAC +1.1%. MTSN +3%. Comment! [Tech, On the Move]
Thursday, March 28, 8:40 PM Just 3 chip manufacturers - Intel (INTC), Samsung (SSNLF.PK), and TSMC (TSM) - will account for 57% of 2013 chip industry capex, estimates IC insights. That figure, up from 2012's 54%, drives home the extent chip equipment maker fortunes now hinge on the spending plans of a handful of firms, and also the big lead the industry giants have opened up in economies of scale relative to smaller rivals. IC Insights expects total industry capex to grow 2% this year to $59.8B, after falling 11% last year. 1 Comment [Tech]
Wednesday, February 27, 4:38 PM Musical chairs, tech CFO style: Riverbed (RVBD) CFO Randy Gottfried is retiring from the company, effective May 3. He's being replaced by Lam Research (LRCX) CFO Ernie Maddock. Lam is replacing Maddock with Avago CFO Douglas Bettinger - Avago announced Bettinger's departure yesterday. RVBD -0.8% AH. Comment! [Tech]
Friday, February 22, 6:25 PM Though production and yields have risen, TSMC (TSM +1.1%) is still fully using up its 28nm chip manufacturing capacity thanks to strong demand from mobile clients, Digitimes reports. The report comes shortly after rival UMC warned of a Q1 operating loss due to a "slower than expected" 28nm ramp, and might bode well for TSMC equipment suppliers KLAC and LRCX - TSMC set a relatively light capex budget for 2013. Mobile chipmakers using TSMC's cutting-edge processes include Qualcomm, Broadcom, Nvidia, and MediaTek. Comment! [Tech]
Friday, February 22, 2:03 PM Chip stocks are outperforming (SOXX +2%) in the wake of Marvell's FQ4 beat and solid guidance, and Texas Instruments' dividend/buyback hike. Also norteworthy: 1) SEMI estimates the book-to-bill for North American chip equipment makers rose to 1.14 in January; that's up from 0.92 in December, and the first reading above 1 since May '12. 2) Taiwanese analog chipmakers posted strong January sales thanks to demand from LED and smartphone clients; the results could be a positive leading indicator. Comment! [Tech, On the Move]
Friday, January 25, 11:39 AM Chip equipment stocks are rallying thanks to strong results and better-than-feared guidance from KLA-Tencor (KLAC +8.8%), and Samsung's forecast for 2013 capex to be similar to 2012 levels. AMAT +2.4%. LRCX +5.6%. ASML +3.2%. CYMI +2.8%. RTEC +1.7%. There had been a lot of speculation Samsung would aggressively slash its capex budget this year. Samsung foundry rival TSMC (TSM -1%) is lower. Comment! [Tech, On the Move]
Wednesday, January 23, 4:23 PM In tandem with its FQ2 report, Lam Research (LRCX) announces CFO Ernie Maddock will be leaving in mid-April. A search has begun for a successor. CC at 5PM ET (webcast), guidance should be provided. (PR) Comment! [Tech]
Wednesday, January 23, 4:19 PM Lam Research (LRCX): FQ2 EPS of $0.45 beats by $0.01. Revenue of $860.9M beats by $8.54M. (PR) Comment! [Earnings, Breaking News, Tech]
Wednesday, January 23, 12:05 AM Notable earnings after Wednesday’s close: AAPL, ALTR, AMGN, BKW, CBST, CCI, FBC, FFIV, HXL, INVN, JEC, LOGI, LRCX, LSI, MIPS, MLNX, NE, NFLX, PLCM, SWFT, SNDK, SYK, SYMC, TER, URI, VAR, WDC Comment! [Earnings]
Tuesday, January 22, 5:35 PM Notable earnings after Wednesday’s close: AAPL, ALTR, AMGN, BKW, CBST, CCI, FBC, FFIV, HXL, INVN, JEC, LOGI, LRCX, LSI, MIPS, MLNX, NE, NFLX, PLCM, SWFT, SNDK, SYK, SYMC, TER, URI, VAR, WDC 3 Comments [Earnings]
Thursday, January 17, 4:27 PM A little more on Intel: 2013 capex budget of $12.5B-$13.5B established, up from 2012's $11B (good for chip equipment makers). $1B in shares repurchased, boosting Q4 EPS. Company expects gross margin (GAAP) to be 56%-60% in Q1 and 60% (plus or minus a few %) in 2013. Opex expected to increase 4% in 2013, headcount expected to be flat after rising by 5K in 2012. 2012 software sales totaled $2.4B (+27% Y/Y, boosted by full year of McAfee results). Comment! [Tech, Earnings]