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The Zacks Analyst Blog Highlights AMD, Lam Research, Cisco Systems, Perma-Pipe international and AstroNova
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For Immediate Release
Chicago, IL – July 2, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Advanced Micro Devices, Inc. (AMD - Free Report) , Lam Research Corp. (LRCX - Free Report) , Cisco Systems, Inc. (CSCO - Free Report) , Perma-Pipe International Holdings, Inc. (PPIH - Free Report) and AstroNova, Inc. .
Here are highlights from Wednesday’s Analyst Blog:
Top Analyst Reports for AMD, Lam Research and Cisco
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Advanced Micro Devices, Inc., Lam Research Corp. and Cisco Systems, Inc., as well as two micro-cap stocks Perma-Pipe International Holdings, Inc. and AstroNova, Inc.. The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.
These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
AMD's shares have outperformed the Zacks Computer - Integrated Systems industry over the past year (+319.4% vs. +262.9%). The company is benefiting from rising AI infrastructure deployments that lift demand for EPYC server CPUs and Instinct accelerators across cloud and enterprise customers.
Data Center revenue grew 57% year over year in the first quarter of 2026, and second-quarter revenue is guided higher as supply and customer ramps broaden. Helios and MI450 engagements are expanding with large customers, and management continues to target scaling the data center AI business to tens of billions in annual revenue in 2027.
Strong partner base that includes AWS and Oracle is a positive. Record quarterly free cash flow and ongoing repurchases add support, but competition from NVIDIA and Intel remains intense. Higher memory and component costs are expected to curb second-half PC and gaming demand and can pressure gross margin as MI450 ramps.
Shares of Lam Research have outperformed the Zacks Electronics - Semiconductors industry over the past year (+340.9% vs. +97%). The company is benefiting from AI-driven increases in demand for deposition and etch tools across memory, foundry and advanced packaging industries. Management lifted its calendar year 2026 WFE outlook and sees growth continuing into 2027 as customers work through capacity and cleanroom constraints.
Record Q3 results and a higher Q4 outlook reflect momentum in leading-edge foundry and HBM-driven DRAM, while NAND conversion activity is being pulled forward. Customer Support is scaling with a larger installed base and new productivity services that can lift output and yield. Strong cash flow and an aggressive shareholder return policy are other positives.
However, global spending on mature nodes is likely to remain soft in the near term. Growing trade and tariff tensions between the United States and China are a concern.
Cisco's shares have outperformed the Zacks Computer - Networking industry over the past year (+75.2% vs. +74.7%). The company is seeing broad-based demand, with third-quarter fiscal 2026 revenue of $15.8 billion up 12% year over year and non-GAAP earnings of $1.06 per share, up 10% year over year.
Total product orders rose 35% and networking product orders grew more than 50%, helped by a campus refresh and data center switching orders up more than 40%. AI infrastructure is a key driver, with $5.3 billion of hyperscaler orders taken year to date; management raised expected fiscal 2026 AI orders to $9 billion and AI revenue to $4 billion. Non-GAAP gross margin was 66.0% and operating margin was 34.2%.
For fiscal 2026, guidance calls for $62.8-$63 billion revenue and $4.27-$4.29 non-GAAP earnings, assuming current tariffs and exemptions persist. However, declining services revenue, flat security product revenue, and stiff competition are major concerns.
Shares of Perma-Pipe International have gained +13.2% over the past year against the Zacks Steel - Pipe and Tube industry's gain of +54.4%. This microcap company with a market capitalization of $221.26 million is well-positioned to benefit from rising infrastructure spending, with AI data center expansion emerging as a meaningful new growth driver alongside its established energy and district heating businesses.
A new U.S. manufacturing facility, growing AI-related project wins, and a diversified backlog across AI, district energy, industrial and research projects enhance revenue visibility. Improving operating cash flow, a stronger cash position and broad geographic exposure across North America and MENA provide greater financial flexibility and reduce reliance on any single market.
However, profitability remains under pressure, with margin compression. Results are also sensitive to project timing, steel cost inflation and cyclical energy and infrastructure spending, which could weigh on earnings. The stock also trades at attractive discounts to the industry on EV/sales and EV/EBITDA multiples.
AstroNova's shares have outperformed the Zacks Technology Services industry over the past year (+128.3% vs. +11.5%). This microcap company with a market capitalization of $220.58 million recently agreed to be acquired by Arcline Investment Management in an all-cash transaction valued at $29.00 per share, subject to regulatory approval.
AstroNova's aerospace segment is the primary growth driver, with Q1 FY2027 Aerospace revenue rising 16.3%, supported by ToughWriter shipments, pricing gains and stronger commercial aircraft production. Higher Aerospace volumes lifted gross margin by 490 bps to 36.6%, while operating income nearly tripled. A recurring revenue mix (65% of sales) provides stable cash flows, while positive free cash flow, debt reduction and a 2.6x net leverage ratio strengthen financial flexibility.
However, Product ID revenue remains weak, raising concerns over turnaround execution. Elevated working capital, tariff uncertainty and intense competition in digital printing remain key risks. The stock trades near the upper end of its historical valuation range.
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights AMD, Lam Research, Cisco Systems, Perma-Pipe international and AstroNova
For Immediate Release
Chicago, IL – July 2, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Advanced Micro Devices, Inc. (AMD - Free Report) , Lam Research Corp. (LRCX - Free Report) , Cisco Systems, Inc. (CSCO - Free Report) , Perma-Pipe International Holdings, Inc. (PPIH - Free Report) and AstroNova, Inc. .
Here are highlights from Wednesday’s Analyst Blog:
Top Analyst Reports for AMD, Lam Research and Cisco
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Advanced Micro Devices, Inc., Lam Research Corp. and Cisco Systems, Inc., as well as two micro-cap stocks Perma-Pipe International Holdings, Inc. and AstroNova, Inc.. The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.
These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today's research reports here >>>
Today's Featured Research Reports
AMD's shares have outperformed the Zacks Computer - Integrated Systems industry over the past year (+319.4% vs. +262.9%). The company is benefiting from rising AI infrastructure deployments that lift demand for EPYC server CPUs and Instinct accelerators across cloud and enterprise customers.
Data Center revenue grew 57% year over year in the first quarter of 2026, and second-quarter revenue is guided higher as supply and customer ramps broaden. Helios and MI450 engagements are expanding with large customers, and management continues to target scaling the data center AI business to tens of billions in annual revenue in 2027.
Strong partner base that includes AWS and Oracle is a positive. Record quarterly free cash flow and ongoing repurchases add support, but competition from NVIDIA and Intel remains intense. Higher memory and component costs are expected to curb second-half PC and gaming demand and can pressure gross margin as MI450 ramps.
(You can read the full research report on AMD here >>>)
Shares of Lam Research have outperformed the Zacks Electronics - Semiconductors industry over the past year (+340.9% vs. +97%). The company is benefiting from AI-driven increases in demand for deposition and etch tools across memory, foundry and advanced packaging industries. Management lifted its calendar year 2026 WFE outlook and sees growth continuing into 2027 as customers work through capacity and cleanroom constraints.
Record Q3 results and a higher Q4 outlook reflect momentum in leading-edge foundry and HBM-driven DRAM, while NAND conversion activity is being pulled forward. Customer Support is scaling with a larger installed base and new productivity services that can lift output and yield. Strong cash flow and an aggressive shareholder return policy are other positives.
However, global spending on mature nodes is likely to remain soft in the near term. Growing trade and tariff tensions between the United States and China are a concern.
(You can read the full research report on Lam Research here >>>)
Cisco's shares have outperformed the Zacks Computer - Networking industry over the past year (+75.2% vs. +74.7%). The company is seeing broad-based demand, with third-quarter fiscal 2026 revenue of $15.8 billion up 12% year over year and non-GAAP earnings of $1.06 per share, up 10% year over year.
Total product orders rose 35% and networking product orders grew more than 50%, helped by a campus refresh and data center switching orders up more than 40%. AI infrastructure is a key driver, with $5.3 billion of hyperscaler orders taken year to date; management raised expected fiscal 2026 AI orders to $9 billion and AI revenue to $4 billion. Non-GAAP gross margin was 66.0% and operating margin was 34.2%.
For fiscal 2026, guidance calls for $62.8-$63 billion revenue and $4.27-$4.29 non-GAAP earnings, assuming current tariffs and exemptions persist. However, declining services revenue, flat security product revenue, and stiff competition are major concerns.
(You can read the full research report on Cisco here >>>)
Shares of Perma-Pipe International have gained +13.2% over the past year against the Zacks Steel - Pipe and Tube industry's gain of +54.4%. This microcap company with a market capitalization of $221.26 million is well-positioned to benefit from rising infrastructure spending, with AI data center expansion emerging as a meaningful new growth driver alongside its established energy and district heating businesses.
A new U.S. manufacturing facility, growing AI-related project wins, and a diversified backlog across AI, district energy, industrial and research projects enhance revenue visibility. Improving operating cash flow, a stronger cash position and broad geographic exposure across North America and MENA provide greater financial flexibility and reduce reliance on any single market.
However, profitability remains under pressure, with margin compression. Results are also sensitive to project timing, steel cost inflation and cyclical energy and infrastructure spending, which could weigh on earnings. The stock also trades at attractive discounts to the industry on EV/sales and EV/EBITDA multiples.
(You can read the full research report on Perma-Pipe International here >>>)
AstroNova's shares have outperformed the Zacks Technology Services industry over the past year (+128.3% vs. +11.5%). This microcap company with a market capitalization of $220.58 million recently agreed to be acquired by Arcline Investment Management in an all-cash transaction valued at $29.00 per share, subject to regulatory approval.
AstroNova's aerospace segment is the primary growth driver, with Q1 FY2027 Aerospace revenue rising 16.3%, supported by ToughWriter shipments, pricing gains and stronger commercial aircraft production. Higher Aerospace volumes lifted gross margin by 490 bps to 36.6%, while operating income nearly tripled. A recurring revenue mix (65% of sales) provides stable cash flows, while positive free cash flow, debt reduction and a 2.6x net leverage ratio strengthen financial flexibility.
However, Product ID revenue remains weak, raising concerns over turnaround execution. Elevated working capital, tariff uncertainty and intense competition in digital printing remain key risks. The stock trades near the upper end of its historical valuation range.
(You can read the full research report on AstroNova here >>>)
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.