On CNBC’s “Mad Money Lightning Round,” Jim Cramer said although Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) is a “terrific” company, but he still likes Lam Research (NASDAQ:LRCX) as his number one, while Applied Materials (NASDAQ:AMAT) is his number two.
On the earnings front, Kulicke and Soffa Industries reported better-than-expected third-quarter results and issued fourth-quarter guidance above estimates on Aug. 5.
Kulicke & Soffa reported quarterly earnings of $1.20 per share which beat the analyst consensus estimate of $1.01 per share. The company reported quarterly sales of $330.409 million which beat the analyst consensus estimate of $311.667 million.
“Here’s what’s happening with Flagstar (NYSE:FLG): a lot of people are saying this kind of bank is going to be hurt by Muse,” Cramer said. “My take is, don’t fight the trend. It’s too powerful. It’s time to move on.”
On Monday, Barclays analyst Jared Shaw maintained an Overweight rating on Flagstar Bank and lowered the price target from $17 to $15, while TD Cowen analyst Janet Lee maintained a Buy rating and cut the price target from $17 to $16.
Cramer said that although STMicroelectronics N.V. (NYSE:STM) is good, he recommended buying Intel Corporation (NASDAQ:INTC) all the way down here at $107.
STMicroelectronics announced that it will release third-quarter earnings before the opening of trading on the European Stock Exchanges on Oct. 29.
Price Action:
- Kulicke and Soffa shares fell 4.2% to settle at $90.92 on Thursday.
- Flagstar shares gained 0.4% to close at $11.35 during the session.
- STMicroelectronics dipped 6.2% to settle at $52.71 on Thursday.
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