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Lam Research Appoints Dr. Koh as a Member of its Board

Zacks

Lam Research Corporation LRCX recently announced changes at the management level with the appointment of Dr. Young Bum Koh to its board, effective May 10.

Following the news, share prices were up 1.13%. The stock has outperformed the Zacks Semiconductor Equipment Wafer Fabrication industry in the last one year. It has returned 106.8% compared with the industry’s gain of 76.4%.

In his illustrious career, Dr. Koh served in high capacities at reputable organizations. He held several executive positions at Samsung Electronics Co., Ltd in South Korea and also served as Executive Vice President and President of Samsung Austin Semiconductor LLC located in Texas.


Management believes that Dr. Koh’s experience in semiconductor space and business proficiency will be instrumental in helping the company achieve long-term goals.

Stephen Newberry, Lam’s Chairman of the Board, said, “We are honored to welcome Dr. Koh as a Director of Lam Research”.

"His intimate understanding of the semiconductor industry paired with his international leadership experience in research, development and manufacturing will be a tremendous asset in our boardroom."

Recent Results & Looking Ahead

Lam Research delivered strong third-quarter 2017 results, wherein adjusted earnings of $2.80 per share surpassed the Zacks Consensus Estimate by 26 cents. Also, revenues of $2.15 billion were above the Zacks Consensus Estimate of $2.125 billion.

Lam Research issued decent fourth-quarter fiscal 2017 guidance. The company expects revenues of approximately $2.3 billion (+/- $100 million). Also, management expects non-GAAP earnings per share of $3 (+/- 12 cents). The Zacks Consensus Estimate for the upcoming quarter is pegged at $3.02.

To Conclude

Lam Research is a leading global provider of innovative wafer fabrication equipment and services to the semiconductor industry.

The company’s various initiatives such as product enhancements and solid execution are some of the catalysts driving the stock. The company continues to see strong success in the areas of device architecture, process flow and technology inflections. Also, the company has been improving on the WFE market share significantly since 2013 and expects to continue making gains.

However, persistent decline in the PC market, which is still the most important consumer of DRAMs, the competitive climate and currency effects remain concerns.

Zacks Rank and Stocks to Consider

Lam Research carries a Zacks Rank #1 (Strong Buy).Some other stocks in the industry are KLA-Tencor KLAC, carrying a Zacks Rank #1 (Strong Buy), while Applied Materials AMAT and Advanced Energy Industries, Inc. AEIS, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Advanced Energy Industries, Inc. delivered a positive earnings surprise of 10.46%, on average, in the trailing four quarters.

KLA-Tencor delivered a positive earnings surprise of 11.55%, on average, in the last four quarters.

Applied Materials delivered a positive earnings surprise of 3.92%, on average, in the trailing four quarters.

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