Technology

Lam Research Fiscal Q2 GAAP Earnings, Revenue Fall; Fiscal Q3 Guidance Set

Lam Research (LRCX) reported fiscal Q2 GAAP diluted earnings late Wednesday of $7.22 a share, down from $10.77 a year earlier. Analysts surveyed by Capital IQ expected $6.95. Revenue in the quarter ended Dec. 24 was $3.76 billion, down from $5.28 billion a year earlier. Analysts surveyed by Capital IQ expected $3.71 billion. For fiscal Q3, the company said it expects non-GAAP diluted EPS of $7.25, plus or minus $0.75, and revenue of $3.7 billion, plus or minus $300 million. Analysts polled by Capital IQ are looking for EPS of $6.63 on revenue of $3.68 billion.

Lam Research Fiscal Q2 GAAP Earnings, Revenue Fall; Fiscal Q3 Guidance Set Read Post »

IBM’s AI Demand Showing Up in Consulting and Software Units

IBM’s book of business for its Watsonx platform and generative AI offerings roughly doubled from 3Q to 4Q, with two thirds of that coming from signings in its consulting segment and the rest flowing through its software unit. CFO Jim Kavanaugh tells WSJ the company has had thousands of hands-on client interactions quarter-to-quarter and seen the number of client pilots of its AI tech shoot up fivefold. “We’re seeing a lot of acceleration overall,” he says.

IBM’s AI Demand Showing Up in Consulting and Software Units Read Post »

IBM Expecting Steady Headcount Through 2024

After cutting about 3,900 jobs at the beginning of 2023, IBM is entering the new year with confidence that it will maintain a relatively stable headcount in 2024, CFO Jim Kavanaugh tells WSJ. That said, the legacy tech giant “constantly has to revitalize and reskill our mix to be competitive in the marketplace,” the CFO says. IBM spent about $400 million on workforce rebalancing and reskilling in 2023 and expects to spend a similar amount this year, although there are no concrete management plans in place right now, Kavanaugh says.

IBM Expecting Steady Headcount Through 2024 Read Post »

Lam Research Corporation (LRCX) Q2 2024 Earnings Call Transcript Summary

The following is a summary of the Lam Research Corporation (LRCX) Q2 2024 Earnings Call Transcript: Financial Performance: Lam Research Corporation reported robust Q2 financial results, with annual revenue at $14.3 billion and diluted earnings per share at $27.33. Q2 revenue was $3.76 billion, up 8% from the prior quarter and down 29% year-over-year. Gross margin for the quarter was 47.6%, and operating margin maintained at 30%. The company returned approximately 79% of its free cash flow in 2023, amounting to $3.8 billion. Lam repurchased close to 5 million shares in 2023, with a remaining $2.1 billion in the Board-authorized share repurchase plan. Business Progress: Lam showed significant advancements in the foundry, logic, and specialty technology segments, expanding non-memory revenue share. Installed base increased nearly 50% from 2019, with revenue growth over 80%. Projected a modest recovery in memory spending for 2024 with WFE spending estimated to be in the

Lam Research Corporation (LRCX) Q2 2024 Earnings Call Transcript Summary Read Post »

International Business Machines Corporation (IBM) Q4 2023 Earnings Call Transcript Summary

The following is a summary of the International Business Machines Corporation (IBM) Q4 2023 Earnings Call Transcript: Financial Performance: IBM reported Q4 revenue of $17.4 billion, operating pretax income of $4.2 billion, and operating earnings per share of $3.87. The company’s total revenue for the year was nearly $62 billion, up 3% with free cash flow at $11.2 billion, the strongest level of cash generation since 2019. IBM ended the year with cash of $13.5 billion, up $4.6 billion year-over-year with total debt at $56.5 billion. Operating gross profit margin expanded by 130 basis points and operating pretax margin expanded by 40 basis points. For 2024, IBM expects performance to be in line with its mid-term model with mid-single digit revenue growth and about $12 million of free cash flow. Business Progress: IBM noted solid growth in both software and consulting and anticipates software revenue growth to be slightly above

International Business Machines Corporation (IBM) Q4 2023 Earnings Call Transcript Summary Read Post »

Microsoft (NASDAQ:MSFT) Stock Analyst Ratings

Microsoft (NASDAQ:MSFT) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/23/2024 50.83% Truist Securities → $600 Reiterates Buy → Buy 01/18/2024 18.4% Exane BNP Paribas → $471 Upgrades Neutral → Outperform 01/12/2024 14.38% Piper Sandler → $455 Reiterates Overweight → Overweight 01/09/2024 5.58% BMO Capital $400 → $420 Maintains Outperform 01/02/2024 14.38% Piper Sandler $425 → $455 Maintains Overweight 12/28/2023 13.12% Wedbush $425 → $450 Maintains Outperform 12/15/2023 13.12% Mizuho $420 → $450 Maintains Buy 12/13/2023 50.83% Truist Securities → $600 Initiates Coverage On → Buy 12/05/2023 8.09% Argus Research $390 → $430 Maintains Buy 12/05/2023 17.14% China Renaissance → $466 Initiates Coverage On → Buy 11/29/2023 19.4% Tigress Financial $433 → $475 Maintains Buy 11/24/2023 5.58% Mizuho $420 → $420 Reiterates Buy → Buy 11/24/2023 -1.96% RBC Capital $390 → $390 Reiterates Outperform → Outperform 11/22/2023 6.83% Wedbush → $425 Reiterates

Microsoft (NASDAQ:MSFT) Stock Analyst Ratings Read Post »

Salesforce (NYSE:CRM) Stock Analyst Ratings

Salesforce (NYSE:CRM) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/23/2024 12.1% Baird $300 → $310 Maintains Outperform 01/22/2024 5.95% JMP Securities → $293 Reiterates Market Outperform → Market Outperform 01/11/2024 8.48% Baird $240 → $300 Upgrades Neutral → Outperform 01/02/2024 3.06% Piper Sandler $266 → $285 Maintains Neutral 12/21/2023 26.56% Morgan Stanley $290 → $350 Upgrades Equal-Weight → Overweight 12/20/2023 1.25% Wells Fargo → $280 Downgrades Overweight → Equal-Weight 12/18/2023 13.9% Wolfe Research → $315 Upgrades Peer Perform → Outperform 12/01/2023 4.86% Argus Research $275 → $290 Maintains Buy 11/30/2023 4.86% Evercore ISI Group $275 → $290 Maintains Outperform 11/30/2023 8.48% Raymond James $280 → $300 Maintains Strong Buy 11/30/2023 8.48% Stifel $275 → $300 Maintains Buy 11/30/2023 -0.56% Truist Securities → $275 Reiterates Buy → Buy 11/30/2023 -5.98% JP Morgan $240 → $260 Maintains Overweight 11/30/2023 5.95% JMP Securities $275

Salesforce (NYSE:CRM) Stock Analyst Ratings Read Post »

Texas Instruments Incorporated (TI) Reports Q4 2023 and 2023 Financial Results and Shareholder Returns

Texas Instruments Incorporated (TI) reports Q4 2023 and 2023 financial results and shareholder returns Conference call on TI website at 3:30 p.m. Central time today PR Newswire DALLAS, Jan. 23, 2024 DALLAS, Jan. 23, 2024 /PRNewswire/ — Texas Instruments Incorporated (TI) (Nasdaq: TXN) today reported fourth quarter revenue of $4.08 billion, net income of $1.37 billion and earnings per share of $1.49. Earnings per share included a 3-cent benefit that was not in the company’s original guidance. Regarding the company’s performance and returns to shareholders, Haviv Ilan, TI’s president and CEO, made the following comments: — “Revenue decreased 10% sequentially and 13% from the same quarter a year ago. During the quarter we experienced increasing weakness across industrial and a sequential decline in automotive. — “Our cash flow from operations of $6.4 billion for the trailing 12 months again underscored the strength of our business model, the quality of our

Texas Instruments Incorporated (TI) Reports Q4 2023 and 2023 Financial Results and Shareholder Returns Read Post »

Texas Instruments Guides For Q1 EPS of $0.96-$1.16 on Revenue of $3.45-$3.75 Billion, Vs CIQ Analyst Consensus of $1.44/Share on Revenue of $4.05 Billion

Texas Instruments Guides For Q1 EPS of $0.96-$1.16 on Revenue of $3.45-$3.75 Billion, Vs CIQ Analyst Consensus of $1.44/Share on Revenue of $4.05 Billion.

Texas Instruments Guides For Q1 EPS of $0.96-$1.16 on Revenue of $3.45-$3.75 Billion, Vs CIQ Analyst Consensus of $1.44/Share on Revenue of $4.05 Billion Read Post »

ASML Stock: Top Analyst Pick As A ‘FIFO’ Beneficiary With 21% Upside Ahead Of Q4 Earnings

ASML Holding NV (NASDAQ:ASML) will be reporting its fourth-quarter earnings on Jan. 24. Wall Street expects $5.27 in EPS and $7.53 billion in revenues as the company reports before market hours. ASML is a semiconductor production equipment (SPE) manufacturer. It is known for being a leading supplier of photolithography equipment used in the semiconductor industry. The company specializes in producing advanced lithography machines. These play a crucial role in the production of integrated circuits (ICs) and other semiconductor devices. The stock has gained just 14.60% over the past year. It has vastly underperforming SPE peers such as Applied Materials Inc (NASDAQ:AMAT) at 46.02%, Lam Research Corporation (NASDAQ:LRCX) a 69.07% and KLA Corp (NASDAQ:KLAC) at 45.64%. The ASML Analyst: Cantor Fitzgerald analyst C.J. Muse has an Overweight rating on the stock with a price target of €900 (~$977.23) a share. At the time of review, the stock traded at €745 (~$808.93), representing a 21% upside potential. The ASML Thesis: ASML faced significant underperformance in 2023.

ASML Stock: Top Analyst Pick As A ‘FIFO’ Beneficiary With 21% Upside Ahead Of Q4 Earnings Read Post »

Texas Instruments Incorporated (TXN) Q4 2023 Earnings Call Transcript Summary

The following is a summary of the Texas Instruments Incorporated (TXN) Q4 2023 Earnings Call Transcript: Financial Performance: Texas Instruments reported a Q4 revenue of $4.1 billion, marking a decrease of 10% sequentially and 13% from the same quarter a year ago. Gross profit was $2.4 billion, or 60% of revenue; the profit margin was down 650 basis points due to lower revenue and higher manufacturing costs. Operating profit amounted to $1.5 billion, or 38% of revenue, marking a 30% decline from the year-ago quarter. The company reported Q4 net income of $1.4 billion and earnings per share of $1.49. Expected revenue for Q1 2024 is between $3.45 billion and $3.75 billion and earnings per share between $0.96 and $1.16. Business Progress: Despite a decline in industrial and automotive revenues in Q4, these sectors combined made up 74% of TI’s revenue in 2023. The company has focused on opportunities in

Texas Instruments Incorporated (TXN) Q4 2023 Earnings Call Transcript Summary Read Post »

Scroll to Top