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Goldman cuts semi equipment stocks after memory checks

Published 10/10/2018, 03:47 PM
Updated 10/10/2018, 03:47 PM
© Reuters. Goldman cuts semi equipment stocks after memory checks
  • Goldman Sachs (NYSE:GS) 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)
  • Now read: Is China Breaking? Some Evidence And Potential Implications


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