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Lam Research (LRCX) Expands Portfolio With New PLD System
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Lam Research (LRCX - Free Report) recently unveiled a pulsed laser deposition (PLD) system, namely Pulsus.
Notably, this production-oriented PLD tool uses advanced technology to deposit high-quality films with at least 40% scandium content, offering enhanced sensitivity and better performance for next-generation MEMS-based microphones and RF filters.
Further, the PLD tool enables the replacement of lead zirconate titanate with lead-free AlScN and offers high film uniformity and quality at a lower cost per wafer than conventional methods, aiding chipmakers in increasing manufacturing yields and accelerating product roadmaps for AR/VR and quantum computing applications.
Lam Research is expected to gain solid traction across advanced consumer and automotive devices on the back of its latest launch.
Moreover, it will enable the company to capitalize on growth opportunities present in the global PLD systems market. Per a RationalStat report, the global PLD systems market is expected to witness a CAGR of 7.8% between 2023 and 2030.
The latest move is in sync with Lam Research’s increasing efforts to strengthen its overall portfolio, which remains a key growth catalyst for the company. Its shares have gained 22.6% in the year-to-date period, outperforming the Zacks Computer & Technology sector’s growth of 11.5%.
In this regard, the company’s introduction of its Semiverse Solutions portfolio remains noteworthy. The portfolio includes software platforms for process modeling, design automation, and simulations, creating a virtual nanofabrication environment to speed up and reduce the cost of industry breakthroughs.
Further, LRCX is benefiting from strong momentum across its Coronus DX solution, the first bevel deposition solution for next-generation logic, 3D NAND and advanced packaging applications.
This innovative solution deposits a protective film on wafer edges, preventing defects and damage, increasing yield and enabling chipmakers to implement advanced processes for next-generation chips.
To Conclude
All the above-mentioned endeavors to bolster its portfolio strength will likely aid Lam Research in strengthening its overall financial performance in the upcoming period.
However, weakness in the systems business, primarily due to sluggish memory spending, remains a major concern for the company.
The Zacks Consensus Estimate for fiscal 2024 total revenues is pegged at $14.72 billion, implying a year-over-year decline of 15.5%.
The consensus mark for earnings for fiscal 2024 stands at $28.88 per share, indicating a fall of 15.5% from the year-ago quarter’s reported figure.
Zacks Rank & Other Stocks to Consider
Currently, Lam Research carries a Zacks Rank #2 (Buy).
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Lam Research (LRCX) Expands Portfolio With New PLD System
Lam Research (LRCX - Free Report) recently unveiled a pulsed laser deposition (PLD) system, namely Pulsus.
Notably, this production-oriented PLD tool uses advanced technology to deposit high-quality films with at least 40% scandium content, offering enhanced sensitivity and better performance for next-generation MEMS-based microphones and RF filters.
Further, the PLD tool enables the replacement of lead zirconate titanate with lead-free AlScN and offers high film uniformity and quality at a lower cost per wafer than conventional methods, aiding chipmakers in increasing manufacturing yields and accelerating product roadmaps for AR/VR and quantum computing applications.
Lam Research is expected to gain solid traction across advanced consumer and automotive devices on the back of its latest launch.
Moreover, it will enable the company to capitalize on growth opportunities present in the global PLD systems market. Per a RationalStat report, the global PLD systems market is expected to witness a CAGR of 7.8% between 2023 and 2030.
Lam Research Corporation Price and Consensus
Lam Research Corporation price-consensus-chart | Lam Research Corporation Quote
Expanding Portfolio
The latest move is in sync with Lam Research’s increasing efforts to strengthen its overall portfolio, which remains a key growth catalyst for the company. Its shares have gained 22.6% in the year-to-date period, outperforming the Zacks Computer & Technology sector’s growth of 11.5%.
In this regard, the company’s introduction of its Semiverse Solutions portfolio remains noteworthy. The portfolio includes software platforms for process modeling, design automation, and simulations, creating a virtual nanofabrication environment to speed up and reduce the cost of industry breakthroughs.
Further, LRCX is benefiting from strong momentum across its Coronus DX solution, the first bevel deposition solution for next-generation logic, 3D NAND and advanced packaging applications.
This innovative solution deposits a protective film on wafer edges, preventing defects and damage, increasing yield and enabling chipmakers to implement advanced processes for next-generation chips.
To Conclude
All the above-mentioned endeavors to bolster its portfolio strength will likely aid Lam Research in strengthening its overall financial performance in the upcoming period.
However, weakness in the systems business, primarily due to sluggish memory spending, remains a major concern for the company.
The Zacks Consensus Estimate for fiscal 2024 total revenues is pegged at $14.72 billion, implying a year-over-year decline of 15.5%.
The consensus mark for earnings for fiscal 2024 stands at $28.88 per share, indicating a fall of 15.5% from the year-ago quarter’s reported figure.
Zacks Rank & Other Stocks to Consider
Currently, Lam Research carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Airbnb (ABNB - Free Report) , Badger Meter (BMI - Free Report) and AMETEK (AME - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Airbnb have gained 22.2% in the year-to-date period. The long-term earnings growth rate for ABNB is 16.85%.
Shares of Badger Meter have increased 4.3% in the year-to-date period. The long-term earnings growth rate for BMI is 12.27%.
Shares of AMETEK have gained 11.4% in the year-to-date period. The long-term earnings growth rate for AME is 9.19%.