Technology

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

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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 […]

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

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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

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Microsoft (NASDAQ:MSFT) Stock Analyst Ratings

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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

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Salesforce (NYSE:CRM) Stock Analyst Ratings

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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

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

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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

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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

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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

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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.

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

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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

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CFRA Maintains Hold Opinion On Shares Of Texas Instruments Incorporated

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We up our 12-month target to $172 from $157, on P/E of 24x our ’25 EPS view, near five-year historical forward average. We reduce our ’24 EPS estimate to $5.75 from $7.05 and ’25 to $7.15 from $7.83. TXN posts Q4 EPS of $1.46 vs. $2.13, missing the $1.49 consensus. Sales fell 13% (-10% seq.) while Q1 guide was disappointing (implies 12% seq. drop), both missing expectations, hurt by pronounced weakness from industrial customers and a sequential decline in automotive. Gross margin of 59.6% was narrower than our view, compressing vs. 66.1% a year ago and 62.1% in Q3, hurt by lower volume and utilization. Although we believe customers are rebalancing inventories within autos/industrials (cancellations remain elevated), visibility surrounding the trajectory of a recovery remains low. Still,

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ASML Reports EUR27.6 Billion Net Sales and EUR7.8 Billion Net Income in 2023

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2024 expected to be a transition year with sales similar to 2023 VELDHOVEN, the Netherlands, January 24, 2024 — Today, ASML Holding NV (ASML) has published its 2023 fourth-quarter and full-year results.   — Q4 net sales of EUR7.2 billion, gross margin of 51.4%, net income of      EUR2.0 billion   — Quarterly net bookings in Q4 of EUR9.2 billion2 of which EUR5.6 billion      is EUV   — 2023 net sales of EUR27.6 billion, gross margin of 51.3%, net income of      EUR7.8 billion   — ASML expects 2024 net sales to be similar to 2023   — ASML expects Q1 2024 net sales between EUR5.0 billion and EUR5.5 billion      and a gross margin between 48% and 49% (Figures in millions of euros unless otherwise indicated)    Q3 2023       Q4 2023       FY 2022       FY 2023

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ASML Expects Q1 Net Sales Of €5B-€5.5B And Gross Margin Between 48%-49%; Expects 2024 Net Sales To Be Similar To 2023

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“We expect first-quarter net sales between €5.0 billion and €5.5 billion with a gross margin between 48% and 49%. ASML expects R&D costs of around €1,070 million and SG&A costs of around €300 million. In spite of the positive signs as described above, we maintain our conservative view for the total year and expect 2024 revenue to be similar to 2023. We also expect 2024 to be an important year to prepare for significant growth that we expect for 2025,” said ASML President and Chief Executive Officer Peter Wennink.

ASML Expects Q1 Net Sales Of €5B-€5.5B And Gross Margin Between 48%-49%; Expects 2024 Net Sales To Be Similar To 2023 Read Post »

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