Intrinsic value of Lam Research Corporation - LRCX

Previous Close

$227.92

  Intrinsic Value

$237.20

stock screener

  Rating & Target

hold

+4%

Previous close

$227.92

 
Intrinsic value

$237.20

 
Up/down potential

+4%

 
Rating

hold

We calculate the intrinsic value of LRCX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 34.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  11,299
  11,558
  11,855
  12,189
  12,558
  12,964
  13,405
  13,883
  14,398
  14,951
  15,542
  16,173
  16,844
  17,558
  18,316
  19,118
  19,968
  20,866
  21,816
  22,818
  23,876
  24,991
  26,167
  27,406
  28,710
  30,084
  31,530
  33,051
  34,652
  36,336
Variable operating expenses, $m
  6,459
  6,604
  6,769
  6,954
  7,159
  7,385
  7,630
  7,896
  8,182
  8,489
  8,637
  8,988
  9,361
  9,757
  10,178
  10,624
  11,097
  11,596
  12,123
  12,680
  13,268
  13,888
  14,542
  15,230
  15,955
  16,718
  17,522
  18,367
  19,257
  20,193
Fixed operating expenses, $m
  1,595
  1,630
  1,666
  1,703
  1,740
  1,779
  1,818
  1,858
  1,899
  1,940
  1,983
  2,027
  2,071
  2,117
  2,164
  2,211
  2,260
  2,310
  2,360
  2,412
  2,465
  2,520
  2,575
  2,632
  2,690
  2,749
  2,809
  2,871
  2,934
  2,999
Total operating expenses, $m
  8,054
  8,234
  8,435
  8,657
  8,899
  9,164
  9,448
  9,754
  10,081
  10,429
  10,620
  11,015
  11,432
  11,874
  12,342
  12,835
  13,357
  13,906
  14,483
  15,092
  15,733
  16,408
  17,117
  17,862
  18,645
  19,467
  20,331
  21,238
  22,191
  23,192
Operating income, $m
  3,244
  3,324
  3,420
  3,532
  3,659
  3,801
  3,958
  4,130
  4,318
  4,522
  4,922
  5,158
  5,412
  5,684
  5,974
  6,283
  6,611
  6,961
  7,332
  7,725
  8,142
  8,583
  9,050
  9,544
  10,066
  10,617
  11,199
  11,813
  12,461
  13,144
EBITDA, $m
  3,643
  3,729
  3,830
  3,948
  4,082
  4,232
  4,398
  4,579
  4,777
  4,991
  5,223
  5,472
  5,738
  6,024
  6,328
  6,653
  6,998
  7,365
  7,754
  8,167
  8,605
  9,067
  9,557
  10,075
  10,622
  11,200
  11,809
  12,453
  13,132
  13,848
Interest expense (income), $m
  105
  130
  136
  143
  151
  160
  169
  180
  191
  204
  217
  232
  247
  264
  281
  300
  320
  341
  363
  387
  411
  438
  465
  494
  525
  558
  592
  628
  666
  705
  747
Earnings before tax, $m
  3,114
  3,188
  3,277
  3,381
  3,499
  3,631
  3,778
  3,939
  4,114
  4,304
  4,690
  4,911
  5,148
  5,402
  5,674
  5,963
  6,271
  6,598
  6,945
  7,314
  7,704
  8,118
  8,556
  9,019
  9,508
  10,025
  10,571
  11,147
  11,756
  12,397
Tax expense, $m
  841
  861
  885
  913
  945
  980
  1,020
  1,063
  1,111
  1,162
  1,266
  1,326
  1,390
  1,459
  1,532
  1,610
  1,693
  1,781
  1,875
  1,975
  2,080
  2,192
  2,310
  2,435
  2,567
  2,707
  2,854
  3,010
  3,174
  3,347
Net income, $m
  2,273
  2,327
  2,393
  2,468
  2,554
  2,651
  2,758
  2,875
  3,003
  3,142
  3,424
  3,585
  3,758
  3,944
  4,142
  4,353
  4,578
  4,816
  5,070
  5,339
  5,624
  5,926
  6,246
  6,584
  6,941
  7,318
  7,717
  8,138
  8,582
  9,050

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  10,008
  10,238
  10,501
  10,796
  11,124
  11,483
  11,874
  12,297
  12,753
  13,243
  13,766
  14,325
  14,920
  15,552
  16,223
  16,934
  17,686
  18,482
  19,323
  20,211
  21,148
  22,136
  23,177
  24,274
  25,430
  26,647
  27,927
  29,275
  30,693
  32,184
Adjusted assets (=assets-cash), $m
  10,008
  10,238
  10,501
  10,796
  11,124
  11,483
  11,874
  12,297
  12,753
  13,243
  13,766
  14,325
  14,920
  15,552
  16,223
  16,934
  17,686
  18,482
  19,323
  20,211
  21,148
  22,136
  23,177
  24,274
  25,430
  26,647
  27,927
  29,275
  30,693
  32,184
Revenue / Adjusted assets
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
  1.129
Average production assets, $m
  1,729
  1,768
  1,814
  1,865
  1,921
  1,983
  2,051
  2,124
  2,203
  2,287
  2,378
  2,474
  2,577
  2,686
  2,802
  2,925
  3,055
  3,193
  3,338
  3,491
  3,653
  3,824
  4,004
  4,193
  4,393
  4,603
  4,824
  5,057
  5,302
  5,559
Working capital, $m
  1,435
  1,468
  1,506
  1,548
  1,595
  1,646
  1,702
  1,763
  1,829
  1,899
  1,974
  2,054
  2,139
  2,230
  2,326
  2,428
  2,536
  2,650
  2,771
  2,898
  3,032
  3,174
  3,323
  3,481
  3,646
  3,821
  4,004
  4,198
  4,401
  4,615
Total debt, $m
  2,523
  2,649
  2,793
  2,955
  3,134
  3,330
  3,544
  3,775
  4,025
  4,293
  4,579
  4,885
  5,210
  5,556
  5,923
  6,312
  6,723
  7,159
  7,619
  8,104
  8,617
  9,157
  9,727
  10,327
  10,959
  11,625
  12,325
  13,062
  13,838
  14,654
Total liabilities, $m
  5,474
  5,600
  5,744
  5,906
  6,085
  6,281
  6,495
  6,726
  6,976
  7,244
  7,530
  7,836
  8,161
  8,507
  8,874
  9,263
  9,674
  10,110
  10,570
  11,055
  11,568
  12,108
  12,678
  13,278
  13,910
  14,576
  15,276
  16,013
  16,789
  17,605
Total equity, $m
  4,533
  4,638
  4,757
  4,891
  5,039
  5,202
  5,379
  5,571
  5,777
  5,999
  6,236
  6,489
  6,759
  7,045
  7,349
  7,671
  8,012
  8,372
  8,753
  9,156
  9,580
  10,027
  10,499
  10,996
  11,520
  12,071
  12,651
  13,262
  13,904
  14,579
Total liabilities and equity, $m
  10,007
  10,238
  10,501
  10,797
  11,124
  11,483
  11,874
  12,297
  12,753
  13,243
  13,766
  14,325
  14,920
  15,552
  16,223
  16,934
  17,686
  18,482
  19,323
  20,211
  21,148
  22,135
  23,177
  24,274
  25,430
  26,647
  27,927
  29,275
  30,693
  32,184
Debt-to-equity ratio
  0.560
  0.570
  0.590
  0.600
  0.620
  0.640
  0.660
  0.680
  0.700
  0.720
  0.730
  0.750
  0.770
  0.790
  0.810
  0.820
  0.840
  0.860
  0.870
  0.890
  0.900
  0.910
  0.930
  0.940
  0.950
  0.960
  0.970
  0.980
  1.000
  1.010
Adjusted equity ratio
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  2,273
  2,327
  2,393
  2,468
  2,554
  2,651
  2,758
  2,875
  3,003
  3,142
  3,424
  3,585
  3,758
  3,944
  4,142
  4,353
  4,578
  4,816
  5,070
  5,339
  5,624
  5,926
  6,246
  6,584
  6,941
  7,318
  7,717
  8,138
  8,582
  9,050
Depreciation, amort., depletion, $m
  399
  404
  410
  416
  424
  431
  440
  449
  459
  470
  301
  313
  326
  340
  355
  370
  387
  404
  423
  442
  462
  484
  507
  531
  556
  583
  611
  640
  671
  704
Funds from operations, $m
  2,672
  2,731
  2,802
  2,885
  2,978
  3,082
  3,198
  3,324
  3,462
  3,612
  3,725
  3,898
  4,085
  4,284
  4,496
  4,723
  4,964
  5,221
  5,493
  5,781
  6,087
  6,410
  6,753
  7,114
  7,497
  7,901
  8,328
  8,778
  9,253
  9,754
Change in working capital, $m
  28
  33
  38
  42
  47
  51
  56
  61
  65
  70
  75
  80
  85
  91
  96
  102
  108
  114
  121
  127
  134
  142
  149
  157
  166
  174
  184
  193
  203
  214
Cash from operations, $m
  2,644
  2,698
  2,765
  2,842
  2,931
  3,031
  3,142
  3,264
  3,397
  3,542
  3,650
  3,818
  3,999
  4,193
  4,400
  4,621
  4,856
  5,106
  5,372
  5,654
  5,952
  6,269
  6,603
  6,957
  7,331
  7,727
  8,144
  8,585
  9,049
  9,540
Maintenance CAPEX, $m
  -214
  -219
  -224
  -230
  -236
  -243
  -251
  -260
  -269
  -279
  -290
  -301
  -313
  -326
  -340
  -355
  -370
  -387
  -404
  -423
  -442
  -462
  -484
  -507
  -531
  -556
  -583
  -611
  -640
  -671
New CAPEX, $m
  -35
  -40
  -45
  -51
  -57
  -62
  -68
  -73
  -79
  -85
  -90
  -97
  -103
  -109
  -116
  -123
  -130
  -137
  -145
  -153
  -162
  -171
  -180
  -190
  -200
  -210
  -221
  -233
  -245
  -258
Cash from investing activities, $m
  -249
  -259
  -269
  -281
  -293
  -305
  -319
  -333
  -348
  -364
  -380
  -398
  -416
  -435
  -456
  -478
  -500
  -524
  -549
  -576
  -604
  -633
  -664
  -697
  -731
  -766
  -804
  -844
  -885
  -929
Free cash flow, $m
  2,395
  2,440
  2,495
  2,562
  2,638
  2,726
  2,823
  2,931
  3,049
  3,178
  3,270
  3,421
  3,583
  3,758
  3,944
  4,144
  4,356
  4,582
  4,823
  5,078
  5,349
  5,636
  5,939
  6,261
  6,601
  6,960
  7,340
  7,741
  8,164
  8,611
Issuance/(repayment) of debt, $m
  107
  126
  144
  162
  179
  196
  214
  232
  249
  268
  286
  306
  325
  346
  367
  389
  412
  435
  460
  486
  512
  540
  570
  600
  632
  666
  701
  737
  776
  816
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  107
  126
  144
  162
  179
  196
  214
  232
  249
  268
  286
  306
  325
  346
  367
  389
  412
  435
  460
  486
  512
  540
  570
  600
  632
  666
  701
  737
  776
  816
Total cash flow (excl. dividends), $m
  2,501
  2,566
  2,639
  2,723
  2,817
  2,922
  3,037
  3,162
  3,299
  3,446
  3,556
  3,726
  3,909
  4,104
  4,311
  4,533
  4,768
  5,018
  5,283
  5,564
  5,861
  6,176
  6,509
  6,861
  7,233
  7,626
  8,041
  8,478
  8,940
  9,427
Retained Cash Flow (-), $m
  -87
  -104
  -119
  -134
  -148
  -163
  -177
  -192
  -207
  -222
  -237
  -253
  -269
  -286
  -304
  -322
  -341
  -361
  -381
  -402
  -424
  -448
  -472
  -497
  -523
  -551
  -580
  -610
  -642
  -676
Prev. year cash balance distribution, $m
  2,056
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  4,470
  2,462
  2,520
  2,589
  2,669
  2,759
  2,860
  2,971
  3,092
  3,224
  3,319
  3,473
  3,639
  3,817
  4,007
  4,210
  4,427
  4,657
  4,902
  5,161
  5,437
  5,728
  6,037
  6,364
  6,710
  7,075
  7,460
  7,868
  8,298
  8,751
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  4,285
  2,253
  2,193
  2,132
  2,069
  2,003
  1,932
  1,857
  1,776
  1,690
  1,576
  1,482
  1,384
  1,281
  1,177
  1,070
  963
  858
  755
  656
  562
  475
  396
  324
  261
  206
  160
  122
  91
  66
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment. Its products are designed to enable its customers build a range of devices that are used in a range of electronic products, including cell phones, tablets, computers, storage devices, and networking equipment. Its customer base includes semiconductor memory, foundry, and integrated device manufacturers (IDMs) that make products, such as dynamic random-access memory (DRAM), negative-AND (NAND) memory and logic devices. It offers a portfolio of products that are used in several areas of the semiconductor manufacturing process flow, including thin film deposition, plasma etch and single-wafer clean.

FINANCIAL RATIOS  of  Lam Research Corporation (LRCX)

Valuation Ratios
P/E Ratio 21.7
Price to Sales 4.6
Price to Book 5.4
Price to Tangible Book
Price to Cash Flow 18.2
Price to Free Cash Flow 19.7
Growth Rates
Sales Growth Rate 36.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -10.3%
Cap. Spend. - 3 Yr. Gr. Rate 1.5%
Financial Strength
Quick Ratio 7
Current Ratio 0
LT Debt to Equity 28.7%
Total Debt to Equity 42%
Interest Coverage 18
Management Effectiveness
Return On Assets 14.7%
Ret/ On Assets - 3 Yr. Avg. 10.5%
Return On Total Capital 16.9%
Ret/ On T. Cap. - 3 Yr. Avg. 12.1%
Return On Equity 26.7%
Return On Equity - 3 Yr. Avg. 18.8%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 45%
Gross Margin - 3 Yr. Avg. 44.3%
EBITDA Margin 27.8%
EBITDA Margin - 3 Yr. Avg. 23.3%
Operating Margin 23.3%
Oper. Margin - 3 Yr. Avg. 18.8%
Pre-Tax Margin 22.6%
Pre-Tax Margin - 3 Yr. Avg. 17.7%
Net Profit Margin 21.2%
Net Profit Margin - 3 Yr. Avg. 16.4%
Effective Tax Rate 6.3%
Eff/ Tax Rate - 3 Yr. Avg. 7.5%
Payout Ratio 14.4%

LRCX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LRCX stock intrinsic value calculation we used $11077 million for the last fiscal year's total revenue generated by Lam Research Corporation. The default revenue input number comes from 0001 income statement of Lam Research Corporation. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our LRCX stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for LRCX is calculated based on our internal credit rating of Lam Research Corporation, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Lam Research Corporation.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of LRCX stock the variable cost ratio is equal to 57.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1561 million in the base year in the intrinsic value calculation for LRCX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Lam Research Corporation.

Corporate tax rate of 27% is the nominal tax rate for Lam Research Corporation. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the LRCX stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for LRCX are equal to 15.3%.

Life of production assets of 7.9 years is the average useful life of capital assets used in Lam Research Corporation operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for LRCX is equal to 12.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $6501.851 million for Lam Research Corporation - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 152.585 million for Lam Research Corporation is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Lam Research Corporation at the current share price and the inputted number of shares is $34.8 billion.

RELATED COMPANIES Price Int.Val. Rating
AMAT Applied Materi 50.10 56.29  buy
VECO Veeco Instrume 9.65 0.88  str.sell
ACLS Axcelis Techno 16.00 18.37  hold
ASYS Amtech Systems 5.15 7.42  buy
CVV CVD Equipment 3.55 10.33  str.buy

CONTACT US      

About X-FIN       Privacy policy       Terms of use      

Copyright © X-FIN.com 2005-2019. All rigths reserved.