20 Trending AI Stocks on Latest Analyst Ratings and News

Page 5 of 19

15.  Lam Research Corporation (NASDAQ:LRCX)

Number of Hedge Fund Holders: 84  

Lam Research Corporation (NASDAQ:LRCX) markets semiconductor processing equipment. Doug Bettinger, the CFO of the firm, recently sought to ease investor concerns around China demand, saying that his firm had a large set of new customers in China that did not appear to be fading away any time soon, despite investor concerns over the region. He noted, during the Goldman Sachs Communacopia and Technology conference, that China had been strong this year and there was a broad set of customers in China – a lot of new customers with an eye towards growing for the future. Per the CFO, they were largely involved in 28 nanometer process technology and above, mainly in the sectors of industrial, auto, analog and microcontrollers.

The interest around the China business of Lam Research Corporation (NASDAQ:LRCX) has grown since the firm reported last quarter that China sales accounted for 39% of total sales, amid increasing US curbs on chip business with Chinese entities. Bettinger claims that the China spending is not going to go away, as Chinese customers of his company had roadmaps that went years into the future, providing demand for Lam products. He even acknowledged the Chinese companies would improve over time, making a case for Lam to spend more on research and development every year.

Page 5 of 19