Goldman cuts semi equipment stocks after memory checks

|By:, SA News Editor

Goldman Sachs cuts semi equipment estimates after checks showed that the market could be underestimating the size of the cyclical downturn due to memory weakness.

The firm drops its Lam Research (LRCX -2.4%) target from $180 to $156 and Applied Materials (AMAT -2.9%) from $47 to $40 and maintains a Neutral rating on both.

Goldman drops its EPS estimates for Lam, AMAT, and KLA-Tencor (KLAC -4.8%) by an average 11% for 2019 and 4% for 2020. 

Source: The Fly

Other semi equipment stocks that could move on the news: ASML (ASML -5.5%), Ichor (ICHR -2.8%), Ultra Clean Holdings (UCTT -2%), Brooks Automation (BRKS -4.8%), AXT (AXTI -5.4%), Nanometrics (NANO -2.1%), Nova Measuring Instruments (NVMI -1.9%), Axcelis Technologies (ACLS -1.1%), Ambarella (AMBA -5.5%), Universal Display (OLED -7.4%), Synopsys (SNPS -3.6%), and Teradyne (TER -4.1%).     

Previously: Tech lunch break: Large-caps slump with Nasdaq 100 (Oct. 10)

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