Lam Research Stock (NASDAQ:LRCX), Trade Ideas

Lam Research

Lam Research is one of the largest semiconductor wafer fabrication equipment, or WFE, manufacturers in the world. It specializes in the market segments of deposition and etch, which entail the buildup of layers on a semiconductor and the subsequent selective removal of patterns from each layer. Lam holds the top market share in etch and holds the clear cut second share in deposition. It is more exposed to memory chipmakers for DRAM and NAND chips. It counts as top customers the largest chipmakers in the world, including TSMC, Samsung, Intel, and Micron.

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Lam Research reported better-than-expected results for its fiscal third quarter.

Lam Research Expects 2024 To Be A &#39;Transition Year,&#39; 4 Analysts Provide Key Q3 Takeaways

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Wall Street suffers a double blow in Thursday’s session, as softer-than-expected revenue forecasts from Meta Platforms Inc. (NASDAQ:META) are being compounded by weaker-than-expected economic growth and higher inflationary pressures last quarter, raising fears of a stagflation phase 

Stocks Drop, Tech Tumbles With Meta&#39;s Weak Outlook, Q1 Stagflation Fears; Gold Miners Advance: What&#39;s Driving Markets Thursday?

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Meta Platforms To Rally Around 14%? Here Are 10 Top Analyst Forecasts For Thursday

Lam Research Corp

Citigroup analyst Atif Malik maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Buy and raises the price target from $975 to $1025.

Citigroup Maintains Buy on Lam Research, Raises Price Target to $1025

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Shares of semiconductor stocks are trading higher in reaction to Meta's increased capex guidance and in possible anticipation of Intel's earnings report. The sector recently gained following strong earnings from Texas Instruments.

Barclays analyst Blayne Curtis maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Equal-Weight and raises the price target from $825 to $865.

Barclays Maintains Equal-Weight on Lam Research, Raises Price Target to $865

Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) reported <a href="https://www.benzinga.com/news/earnings/24/04/38416352/lam-research-reports-better-than-expected-q3-results">better-than-expected results for its fiscal third quarter</a>.
Here are some key analyst takeaways from the results, which came amid an <a href="https://www.benzinga.com/calendars/earnings">exciting earnings season</a>. 
<ul>
<li>Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating, while raising the price target from $935 to $960.</li>
<li>Raymond James analyst Srini Pajjuri maintained an Outperform rating and price target of $960.</li>
<li>Needham analyst Charles Shi reaffirmed a Buy rating and price target of $950.</li>
<li>KeyBanc Capital Markets analyst Steve Barger reiterated a Sector Weight rating on the stock.</li>
</ul>
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Mizuho Securities: Lam Research reported "good" results for its March quarter, with revenues and earnings of $3.8 billion and $7.79 per share, higher than the consensus of $3.72 billion and $7.30 per share, respectively, Rakesh said in a note.
Gross margin came in at a better-than-expected 48.7%. Systems revenue of $2.4 billion represented about 6% year-on-year growth. Customer Support Business Group (CSBG) revenue was $1.4 billion, down 13%. Management's June quarter guidance was in-line with expectations, he added.
Raymond James: Healthy demand from China drove Lam Research's results and outlook, Pajjuri said. "Management raised its CY24 WFE view and maintained its prior expectation for a stronger 2H," he added.
"While China is expected to moderate through the year, cyclical recovery in other regions and secular Gen AI growth should help sustain momentum," the analyst further wrote.
Needham: "While guiding up WFE to low- to mid-$90B from mid- to high-$80B, LRCX management said the increase was mainly due to the higher China lithography spending this year and should not change LRCX&#8217;s revenue outlook," Shi wrote in a note.
The company expects NAND to be a "2025 story," the analyst said. Lam Research's commentary implies a NAND WFE pickup in late 2024 to early 2025.
KeyBanc: China demand makes up 42% of Lam&#8217;s revenue. Barger also cited &#8220;improving System revenue.&#8221;
"Overall, LRCX indicated it views 2024 as more of a transition year as it positions for stronger growth in 2025 driven by a NAND recovery and augmented by share gains resulting from technology inflections, including AI-related devices, GAA, backside power, and advanced packaging," the analyst added.
LRCX Price Action: Shares of Lam Research had risen by 2.44% to $906.47 at the time of publication on Thursday.
Image: Shutterstock

Lam Research Expects 2024 To Be A 'Transition Year,' 4 Analysts Provide Key Q3 Takeaways

TD Cowen analyst Krish Sankar maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Buy and raises the price target from $975 to $1000.

TD Cowen Maintains Buy on Lam Research, Raises Price Target to $1000

Wall Street suffers a double blow in Thursday&#8217;s session, as softer-than-expected revenue forecasts from Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are being compounded by weaker-than-expected economic growth and higher inflationary pressures last quarter, raising fears of a stagflation phase <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss">for the U.S. economy.</a>
The U.S. economy grew by a 1.6% annualized pace in Q1 2024, slowing down sharply from the 3.4% pace in the previous quarter and missing expectations of a growth rate of 2.5%. Inflation, as measured by the Personal Consumption Expenditure (PCE) price index, substantially accelerated from a 1.8% to 3.4% annualized pace, with the underlying measure of core PCE escalating to 3.7%. 
The elite group of Magnificent Seven stocks <a href="https://www.benzinga.com/markets/equities/24/04/38436183/magnificent-7-tumble-wipe-out-300-billion-on-metas-weak-guidance-q1-stagflation-woes">wiped out nearly $300 billion in market value</a> earlier this morning, prior to marginally curbing losses by 1 p.m. in New York. 
The S&amp;P 500 and the tech-heavy Nasdaq 100 dropped by 1% and 1.2% respectively, while blue chips in the Dow Jones Industrial Average slightly underperformed, declining by 1.4%. 
Meta Platforms experienced a double-digit decline, pulling down both the tech index and the communication services sector, which saw its worst day since late October 2023.
Only a few industries managed to notch gains, with gold miners in the spotlight following stronger-than-expected quarterly results by Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>). The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rose 2.7%. 
Gold also saw an increase, rising by 0.7%, outperforming both stocks and bonds amid growing signals of stagflation from the economy. Crude oil inched lower, with the West Texas Intermediate (WTI) light crude down 0.4% to $82 a barrel. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) held steady around $64,500. 
In the bond market, Treasury yields surged, with the policy-sensitive 2-year yields rising to 5% as traders further dialed back expectations of Fed rate cuts. 
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,026.87</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,975.61</td>
<td>-1.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,333.65</td>
<td>-1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,923.49</td>
<td>-1.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. EDT </figcaption></figure>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Meta Platforms tanked 11% – its worst performance since October 2022 – despite beating both earnings and revenue forecasts last quarter, as weaker-than-expected guidance disappointed traders.</li>
<li>Other companies reacting to earnings were International Business Machines Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NASDAQ">IBM</a>) down 9%, Service Now Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) down 5%, Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) up 2.9%, Chipotle Mexican Grill Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) up 5.4%, Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) down 1.6%, United Rentals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>) up 5.5%, with all of them reporting Wednesday after the close. </li>
<li>Reporting Thursday in the pre-market, Merck &amp; Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) up 2.5%, Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) down 6.6%, Comcast Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) down 6%, Union Pacific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) up 4.3%, S&amp;P Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) flat, Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), down 1.4%, Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) up 1.7%, Altria Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>) up 1%, Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>) down 0.5%, Carrier Global Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) up 8% and Astrazeneca plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) up 5.7%. </li>
<li>Notable names reporting after the close include Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) , Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>).</li>
</ul>
Read now: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38438240/feds-inflation-report-looms-this-friday-what-makes-it-so-crucial-for-markets">Fed&#8217;s Inflation Report Looms This Friday: What Makes It So Crucial For Markets?</a>
Photo: Shutterstock

Stocks Drop, Tech Tumbles With Meta's Weak Outlook, Q1 Stagflation Fears; Gold Miners Advance: What's Driving Markets Thursday?

JP Morgan analyst Harlan Sur maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Overweight and raises the price target from $900 to $950.

JP Morgan Maintains Overweight on Lam Research, Raises Price Target to $950

UBS analyst Timothy Arcuri maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Buy and raises the price target from $1130 to $1150.

UBS Maintains Buy on Lam Research, Raises Price Target to $1150

Cantor Fitzgerald analyst C J Muse reiterates Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Neutral and maintains $1100 price target.

Cantor Fitzgerald Reiterates Neutral on Lam Research, Maintains $1100 Price Target

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Rosenblatt raised the price target for Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) from $520 to $562. Rosenblatt analyst Barton Crockett maintained a Buy rating. Meta Platforms shares fell 0.5% to close at $493.50 on Wednesday. <a href="https://www.benzinga.com/quote/META/analyst-ratings">See how other analysts view this </a>stock.</li>
<li>Wedbush boosted the price target for SLM Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLM#NASDAQ">SLM</a>) from $26 to $28. Wedbush analyst David Chiaverini maintained an Outperform rating. SLM shares rose 0.8% to close at $22.10 on Wednesday. <a href="https://www.benzinga.com/quote/SLM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Oppenheimer lowered Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) price target from $415 to $370. Oppenheimer analyst Michael Wiederhorn maintained an Outperform rating. Humana shares fell 3.7% to close at $315.98 on Wednesday. <a href="https://www.benzinga.com/quote/HUM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>DA Davidson cut the price target for Helen of Troy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) from $151 to $139. DA Davidson analyst Linda Bolton Weiser maintained a Buy rating. Helen of Troy shares fell 9.5% to close at $90.71 on Wednesday. <a href="https://www.benzinga.com/quote/HELE/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>HC Wainwright &amp; Co. cut Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) price target from $325 to $300. HC Wainwright &amp; Co. analyst Andrew Fein maintained a Buy rating. Biogen shares rose 4.6% to close at $201.99 on Wednesday. <a href="https://www.benzinga.com/quote/BIIB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Susquehanna cut Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) price target from $880 to $850. Susquehanna analyst Mehdi Hosseini maintained a Neutral rating. Lam Research shares fell 0.3% to close at $884.89 on Wednesday. <a href="https://www.benzinga.com/quote/LRCX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird raised the price target for Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) from $125 to $175. Baird analyst Tristan Gerra maintained a Neutral rating. Texas Instruments shares gained 5.6% to close at $174.81 on Wednesday. <a href="https://www.benzinga.com/quote/TXN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush raised Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) price target from $2,850 to $3,200. Wedbush analyst Nick Setyan maintained a Neutral rating. Chipotle shares rose 0.4% to close at $2,926.76 on Wednesday. <a href="https://www.benzinga.com/quote/CMG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities lowered Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) price target from $875 to $860. B of A Securities analyst Christopher Nardone downgraded the stock from Buy to Neutral. Deckers Outdoor shares rose 2.7% to close at $851.71 on Wednesday. <a href="https://www.benzinga.com/quote/DECK/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank boosted Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) price target from $467 to $487. Deutsche Bank analyst Scott Deuschle maintained a Hold rating. Lockheed Martin shares fell 0.2% to close at $459.14 on Wednesday. <a href="https://www.benzinga.com/quote/LMT/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/04/38429211/jefferies-financial-maplebear-and-2-other-stocks-insiders-are-selling">Jefferies Financial, Maplebear And 2 Other Stocks Insiders Are Selling</a>

Needham analyst Charles Shi reiterates Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Buy and maintains $1030 price target.

Needham Reiterates Buy on Lam Research, Maintains $1030 Price Target

Susquehanna analyst Mehdi Hosseini maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Neutral and lowers the price target from $880 to $850.

Susquehanna Maintains Neutral on Lam Research, Lowers Price Target to $850

Mizuho analyst Vijay Rakesh maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Buy and raises the price target from $935 to $960.

Mizuho Maintains Buy on Lam Research, Raises Price Target to $960

Guidance

Lam Research Expects Q4 Revenue Of $3.8B +/-$300M (Est $3.772B); Adj EPS Of $7.50 +/- $0.75 (Est $7.33)

Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) reported its third-quarter financial results after the bell Wednesday. Here's a <a href="https://www.benzinga.com/pressreleases/24/04/n38415254/lam-research-corporation-reports-financial-results-for-the-quarter-ended-march-31-2024">look at the highlights</a>.
The Details:
Lam Research reported quarterly adjusted earnings of $7.79 per share which beat the analyst consensus estimate of $7.30 by 6.71%. 
Quarterly sales clocked in at $3.793 billion, beating the analyst consensus estimate of $3.724 billion by 1.86%. 
Cash and cash equivalents, short-term investments, and restricted cash and investments balances increased slightly to $5.7 billion at the end of the March 2024 quarter compared to $5.6 billion at the end of the December 2023 quarter. The company said the increase was primarily the result of $1.385 billion of cash generated from operating activities, partially offset by $981 million of share repurchases, including net share settlement of employee stock-based compensation; and $263 million of dividends paid to stockholders.
&#8220;With solid revenue and earnings per share performance in the March quarter, Lam is off to a strong start in calendar 2024&#8221; said Tim Archer, Lam Research&#8217;s CEO. &#8220;As our customers address the challenges in scaling semiconductors to meet the power and speed requirements for driving AI transformation, Lam is strengthening its leadership and is well-positioned for the significant opportunities ahead.&#8221;
Related News: <a href="https://www.benzinga.com/news/24/04/38407505/whats-going-on-with-advanced-micro-devices-stock">What&#8217;s Going On With Advanced Micro Devices Stock?</a>
LRCX Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Lam Research shares are up 0.58% after-hours at $890.00 at the time of publication Wednesday.
Image: Courtesy of Lam Research Corporation&nbsp;

Earnings

Lam Research Reports Better-Than-Expected Q3 Results

Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) reported quarterly Adj earnings of $7.79 per share which beat the analyst consensus estimate of $7.30 by 6.71 percent. The company reported quarterly sales of $3.793 billion which beat the analyst consensus estimate of $3.724 billion by 1.86 percent. This is a 1.99 percent decrease over sales of $3.870 billion the same period last year.

Lam Research Q3 2024 Adj EPS $7.79 Beats $7.30 Estimate, Sales $3.793B Beat $3.724B Estimate

Rising Treasury yields have investors cautious despite positive news <a href="https://www.benzinga.com/calendars/earnings">from the earnings season.</a>
The yield on the long-dated 30-year Treasury bond has surged to 4.79%. It&#8217;s on track to close at the highest level since early November, ahead of crucial economic data on Thursday.
The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) fell 0.9%, extending its year-to-date drop to 10%. 
Rising yields are propelling the greenback higher, particularly against the low-yielding Japanese yen which tumbled to past 155 per dollar, hitting the lowest level since June 1990.
Tesla Inc. posted lower-than-expected results last quarter, but shares rose 10%. Investors reacted to the automaker&#8217;s pledge to produce more affordable models to broaden the market.
The S&amp;P 500 fell 0.4% by midday trading in New York; the tech-heavy Nasdaq 100 managed to hold steady; and small caps saw wider declines, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) down 1%. 
Gold remains unchanged, while oil prices edged up by 0.5%, despite the Energy Information Administration revealing a 6.368 million barrel drop in crude oil inventories last week, significantly below market expectations of a 1.6 million barrel increase.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 2.7% to $64,500 amid waning sentiment towards riskier assets. 
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,470.46</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,334.54</td>
<td>-0.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,048.09</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,983.56</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:35 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.5% to $503.45, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.4% to $383.43 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.1% lower to $424.43, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 0.3%. The Industrials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) was the major laggard, down 1.5%. 
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) rose 6.5%, after beating both earnings and revenue estimates last quarter. </li>
<li>Other companies reacting to earnings were Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) (down 2.5%), Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) (up 3.6%), Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) (down nearly 2%), Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), (down over 3%), Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) (down over 10%), Norfolk Southern Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) (down 5%), Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) (up over 6%), AT&amp;T Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) (up 1.8%), Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) (down 1.6%), CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>) (down 1.4%), General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) (down 3.2%) and Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) (up 4.3%). </li>
<li>Notable names reporting after the close are Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>), Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>), ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>), O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>), Meta Platforms, Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>), Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>), International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>).</li>
</ul>
Now Read: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38410454/treasury-yields-reach-5-month-high-lift-mortgage-rates-expert-warns-federal-debt-">Treasury Yields Reach 5-Month High, Lift Mortgage Rates; Expert Warns &#8216;Federal Debt Blob Is Out Of Control&#8217;</a>

Small Cap

Economics

SPDR Dow Jones Industrial Average ETF Trust

ODFL

ORLY

STLD

iShares Trust Barclays 20+ Year Treasury Bond Fund

Select Sector SPDR-Consumer Discretionary

Treasury Yields Rise, Tesla Jumps On Cheaper Model Pledge, Yen Plummets To 34-Year Lows: What's Driving Markets Wednesday?

QCOM

QRVO

Shares of chip stocks are trading higher in sympathy with Texas Instruments, which reported better-than-expected Q1 financial results.

Nasdaq and S&amp;P 500 futures signaled a higher open on Wednesday, thanks to upbeat guidance from EV giant Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and <a href="https://www.benzinga.com/news/earnings/24/04/38390554/texas-instruments-q1-earnings-eps-beat-revenue-beat-despite-decline-across-all-end-markets">semiconductor major Texas Instruments, Inc. </a>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), although Dow futures were marginally lower. Investors will keep their eyes peeled for some important economic data, including early quarterly GDP growth and personal consumption expenditure figures, later this week.
The PCI reading will likely be the last inflation reading before the&nbsp;Federal Reserve&nbsp;announces its&nbsp;next&nbsp;verdict in May. Bond yields resumed their climb, reflecting worries the Fed was not cutting rates enough this year.
 Futures Performance On Wednesday ( as of 6:10 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.46%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.09%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.08%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.41%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Wednesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.07% to $505.98,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.51% to $427.22, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Past Session:
Traders relished <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381361/us-private-sector-growth-unexpectedly-slows-in-april-marks-lowest-increase-in-4-mon">weak private-sector activity data </a>on Tuesday, pushing bond yields lower, as they saw it as a catalyst that could keep the Fed dovish. S&amp;P Global&#8217;s manufacturing purchasing managers&#8217; index unexpectedly fell into contraction territory and the service sector PMI came in below expectations, with the composite PMI falling to a two-month low.
The major indices opened higher and rose in early trading before moving roughly sideways for the remainder of the session. The Dow Jones Industrial Average climbed for a fourth straight session and settled at a two-week high, while the Nasdaq Composite and the S&amp;P 500 Index notched up their second straight session of gains. 
IT and communication services stocks led the gains on a day when only the material space came under selling pressure.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.59%</td>
<td>15,696.64</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.20%</td>
<td>5,070.55</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.69%</td>
<td>38,503.69</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.79%</td>
<td>2,002.64</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The market may have resumed the rally after the early-April lull, said Carson Group&#8217;s Ryan Detrick. &#8220;Late April tends to be strong. We had a weak first part. Now are we getting the stronger late part,&#8221; he said. The analyst noted that late last week, there were multiple signs of a pending low forming, along with the CBOE volatility index in backwardation, huge inflows, and strong breadth under the surface.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Late April tends to be strong. We had the weak first part &#x2705; Now are we getting the stronger late part &#x2753; I think so, as noted many times late last week, multiple signs of a pending low were forming (VIX in backwardation, huge outflows, strong breadth under the surface). <a href="https://t.co/aeJuXd83vn">https://t.co/aeJuXd83vn</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1782877381448859715?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption"> FundStrat&#8217;s Tom Lee said in a post at the start of the week that it was surprising to see pessimism surge so quickly following two weeks of market wobble. &#8220;This is why equities risk/reward has improved so much to start this week,&#8221; he said, adding that &#8220;tops&#8221; rarely happen when bearishness prevails. The analyst sees the need for just one catalyst that can bring back the momentum. In an interview with CNBC, he <a href="https://twitter.com/fundstrat/status/1782457285689614681">said</a>, &#8220;Now we just need a positive catalyst. I think as long as inflation tracks better than expected, I think we're in a good position to rally.&#8221; Upcoming Economic Data:</figcaption></figure>
The Commerce Department is scheduled to release the durables goods orders report for March at 8:30 a.m. EDT. Economists, on average, expect durable goods orders to rise 2.6% month-over-month, faster than the 1.3% increase in February. Excluding the volatile transportation orders, the order growth may have slowed from 0.5% to 0.3%.
The Energy Information Administration will release its petroleum status report at 10:30 a.m. EDT.
The Atlanta Fed is due to release its first-quarter GDP data at 12:30 p.m. EDT.
The Treasury will auction five-year notes at 1 p.m. EDT.
See Also: <a href="https://www.benzinga.com/money/best-futures-brokers">Best Futures Brokers</a>
Stocks In Focus: 
<ul>
<li>Tesla rallied over 10% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the release of its quarterly results.</li>
<li>The other stocks moving on earnings reporting Tuesday after the market close are Texas Instruments (up over 7%), Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) (up over 3%), Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) (up about 3%), and Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) (down over 3%).</li>
<li>Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>), Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>), Norfolk Southern Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>), Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>), Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>), General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>), Biogen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) and AT&amp;T Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting their earnings ahead of the market open.</a></li>
<li>Notable names reporting after the close are Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>), Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>), ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>), O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>), Meta Platforms, Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>), Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>), International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures, which staged a moderate recovery on Tuesday, have reversed course, with a barrel of WTI-grade crude trading down 0.45% at under $83. Gold futures also saw weakness but held above the $2,300 level.
The 10-year note yield, which eased on Tuesday, inched its way back up to 4.64% ahead of Friday&#8217;s inflation data.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continued to hold the $66,000 level, as it moved in a tight range. 
Asian stocks rallied across the board, tracking the positive lead from Wall Street overnight and latching on to the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38349204/can-magnificent-7-help-script-market-turnaround-earnings-pick-up-pace-with-microsof">optimism over positive tech earnings.</a> The Australian market, however, ended marginally lower. Sentiment in Europe was positive, although the upward move was more muted, given the markets in the region have been higher for a third straight session. The Euro STOXX 50 was up about 0.33% in early trading.
Read Next: <a href="https://www.benzinga.com/news/24/04/38371547/ray-dalios-way-loses-shine-as-investors-yank-out-billions-from-risk-parity-funds-after-disappointing">Ray Dalio&#8217;s Way Loses Shine As Investors Yank Out Billions From Risk-Parity Funds After Disappointing Returns: But Is It A &#8216;Classic Investment Error?&#8217;</a>
Photo via Shutterstock

Previews

Federal Reserve

Pre-Market Outlook

TSLA

Nasdaq Futures Get A Lift From Tesla, Texas Instruments Earnings: Analyst Points To Key Catalyst For Boosting Rally

In the ever-changing and fiercely competitive business landscape, conducting thorough company analysis is crucial for investors and industry experts. In this article, we will undertake a comprehensive industry comparison, evaluating Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) and its primary competitors in the Semiconductors &amp; Semiconductor Equipment industry. By closely examining key financial metrics, market position, and growth prospects, our aim is to provide valuable insights for investors and shed light on company's performance within the industry.
<h3>Lam Research Background</h3>
Lam Research is one of the largest semiconductor wafer fabrication equipment, or WFE, manufacturers in the world. It specializes in the market segments of deposition and etch, which entail the buildup of layers on a semiconductor and the subsequent selective removal of patterns from each layer. Lam holds the top market share in etch and holds the clear cut second share in deposition. It is more exposed to memory chipmakers for DRAM and NAND chips. It counts as top customers the largest chipmakers in the world, including TSMC, Samsung, Intel, and Micron.
<table>
<thead>
<tr>
<th>Company</th>
<th>P/E</th>
<th>P/B</th>
<th>P/S</th>
<th>ROE</th>
<th>EBITDA (in billions)</th>
<th>Gross Profit (in billions)</th>
<th>Revenue Growth</th>
</tr>
</thead>
<tbody>
<tr>
<td>Lam Research Corp</td>
<td>33.48</td>
<td>13.84</td>
<td>8.11</td>
<td>11.73%</td>
<td>$1.22</td>
<td>$1.76</td>
<td>-28.79%</td>
</tr>
<tr>
<td>ASML Holding NV</td>
<td>45.26</td>
<td>23.38</td>
<td>12.33</td>
<td>8.98%</td>
<td>$1.61</td>
<td>$2.7</td>
<td>-21.59%</td>
</tr>
<tr>
<td>Applied Materials Inc</td>
<td>22.29</td>
<td>9.03</td>
<td>6.02</td>
<td>11.95%</td>
<td>$2.45</td>
<td>$3.2</td>
<td>-0.47%</td>
</tr>
<tr>
<td>KLA Corp</td>
<td>32.08</td>
<td>28.15</td>
<td>9</td>
<td>19.31%</td>
<td>$0.86</td>
<td>$1.51</td>
<td>-16.66%</td>
</tr>
<tr>
<td>Entegris Inc</td>
<td>103.37</td>
<td>5.49</td>
<td>5.31</td>
<td>1.12%</td>
<td>$0.19</td>
<td>$0.34</td>
<td>-14.14%</td>
</tr>
<tr>
<td>Enphase Energy Inc</td>
<td>35.89</td>
<td>15.28</td>
<td>6.91</td>
<td>2.09%</td>
<td>$0.04</td>
<td>$0.15</td>
<td>-58.25%</td>
</tr>
<tr>
<td>Teradyne Inc</td>
<td>35.82</td>
<td>5.92</td>
<td>6</td>
<td>4.71%</td>
<td>$0.17</td>
<td>$0.38</td>
<td>-8.37%</td>
</tr>
<tr>
<td>Onto Innovation Inc</td>
<td>69.42</td>
<td>4.84</td>
<td>10.32</td>
<td>1.77%</td>
<td>$0.04</td>
<td>$0.11</td>
<td>-13.59%</td>
</tr>
<tr>
<td>Amkor Technology Inc</td>
<td>19.85</td>
<td>1.80</td>
<td>1.10</td>
<td>3.01%</td>
<td>$0.33</td>
<td>$0.28</td>
<td>-8.1%</td>
</tr>
<tr>
<td>Axcelis Technologies Inc</td>
<td>13.06</td>
<td>3.66</td>
<td>2.85</td>
<td>8.53%</td>
<td>$0.09</td>
<td>$0.14</td>
<td>16.63%</td>
</tr>
<tr>
<td>FormFactor Inc</td>
<td>38.29</td>
<td>3.42</td>
<td>4.74</td>
<td>8.67%</td>
<td>$0.09</td>
<td>$0.07</td>
<td>1.31%</td>
</tr>
<tr>
<td>SolarEdge Technologies Inc</td>
<td>90.80</td>
<td>1.29</td>
<td>1.05</td>
<td>-6.62%</td>
<td>$-0.18</td>
<td>$-0.06</td>
<td>-64.52%</td>
</tr>
<tr>
<td>Kulicke &amp; Soffa Industries Inc</td>
<td>50.62</td>
<td>2.21</td>
<td>3.54</td>
<td>0.8%</td>
<td>$0.02</td>
<td>$0.08</td>
<td>-2.86%</td>
</tr>
<tr>
<td>Photronics Inc</td>
<td>11.57</td>
<td>1.59</td>
<td>1.77</td>
<td>2.62%</td>
<td>$0.07</td>
<td>$0.08</td>
<td>2.48%</td>
</tr>
<tr>
<td>ACM Research Inc</td>
<td>22.19</td>
<td>2.05</td>
<td>2.99</td>
<td>2.37%</td>
<td>$0.03</td>
<td>$0.08</td>
<td>56.92%</td>
</tr>
<tr>
<td>Cohu Inc</td>
<td>49.29</td>
<td>1.44</td>
<td>2.19</td>
<td>-0.21%</td>
<td>$0.01</td>
<td>$0.07</td>
<td>-28.19%</td>
</tr>
<tr>
<td>PDF Solutions Inc</td>
<td>370.75</td>
<td>5</td>
<td>6.96</td>
<td>0.39%</td>
<td>$0.0</td>
<td>$0.03</td>
<td>1.49%</td>
</tr>
<tr>
<td>Aehr Test Systems</td>
<td>20.37</td>
<td>3.54</td>
<td>4.37</td>
<td>-1.69%</td>
<td>$-0.0</td>
<td>$0.0</td>
<td>-56.04%</td>
</tr>
<tr>
<td>inTest Corp</td>
<td>14.38</td>
<td>1.46</td>
<td>1.09</td>
<td>0.8%</td>
<td>$0.0</td>
<td>$0.01</td>
<td>-19.27%</td>
</tr>
<tr>
<td>Average</td>
<td>58.07</td>
<td>6.64</td>
<td>4.92</td>
<td>3.81%</td>
<td>$0.32</td>
<td>$0.51</td>
<td>-12.96%</td>
</tr>
</tbody>
</table>
<style>
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 width: 100%;
 border-collapse: collapse;
 font-family: Arial, sans-serif;
 font-size: 14px;
 }

 th, td {
 padding: 8px;
 text-align: left;
 }

 th {
 background-color: #293a5a;
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 .dividend-frequency {
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 </style>After examining Lam Research, the following trends can be inferred: 
<ul>
<li>
At 33.48, the stock's Price to Earnings ratio is 0.58x less than the industry average, suggesting favorable growth potential.
</li>
<li>
It could be trading at a premium in relation to its book value, as indicated by its Price to Book ratio of 13.84 which exceeds the industry average by 2.08x.
</li>
<li>
With a relatively high Price to Sales ratio of 8.11, which is 1.65x the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
The Return on Equity (ROE) of 11.73% is 7.92% above the industry average, highlighting efficient use of equity to generate profits.
</li>
<li>
The company exhibits higher Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $1.22 Billion, which is 3.81x above the industry average, implying stronger profitability and robust cash flow generation.
</li>
<li>
With higher gross profit of $1.76 Billion, which indicates 3.45x above the industry average, the company demonstrates stronger profitability and higher earnings from its core operations.
</li>
<li>
With a revenue growth of -28.79%, which is much lower than the industry average of -12.96%, the company is experiencing a notable slowdown in sales expansion.
</li>
</ul>
<h3>Debt To Equity Ratio</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713884459_0.png" alt="debt to equity" />
The debt-to-equity (D/E) ratio provides insights into the proportion of debt a company has in relation to its equity and asset value.
Considering the debt-to-equity ratio in industry comparisons allows for a concise evaluation of a company's financial health and risk profile, aiding in informed decision-making.
When assessing Lam Research against its top 4 peers using the Debt-to-Equity ratio, the following comparisons can be made:
<ul>
<li>
Lam Research holds a middle position in terms of the debt-to-equity ratio compared to its top 4 peers.
</li>
<li>
This indicates a balanced financial structure with a moderate level of debt and an appropriate reliance on equity financing with a debt-to-equity ratio of 0.61.
</li>
</ul>
<h3>Key Takeaways</h3>
For Lam Research, the PE ratio is low compared to peers, indicating potential undervaluation. The PB and PS ratios are high, suggesting overvaluation relative to industry standards. In terms of ROE, EBITDA, and gross profit, Lam Research demonstrates strong performance compared to industry peers. However, the company's revenue growth is relatively low, lagging behind its competitors in the Semiconductors &amp; Semiconductor Equipment sector.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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