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16.  Lam Research Corporation (NASDAQ:LRCX)

Number of Hedge Fund Holders: 84 

Lam Research Corporation (NASDAQ:LRCX) markets semiconductor processing equipment. The company is the third leading supplier of wafer fab equipment. Mizuho lowered the price target on Lam Research Corporation (NASDAQ:LRCX) stock to $950 from $1,050 and kept an Outperform rating on the shares.

In a research note, the investment advisory forecast 2024 and 2025 wafer fab equipment spending flat and up 2% year-over-year respectively, versus prior estimates of up 3%-4%. Mizuho saw some challenges with Intel capex cuts into 2025 and China potential high bandwidth memory restrictions. However, it also saw artificial intelligence as a strong demand driver into 2025.

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