Lam Research (NASDAQ:LRCX) Cut to “Hold” at StockNews.com

Lam Research (NASDAQ:LRCX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other analysts also recently commented on LRCX. UBS Group dropped their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. TD Cowen raised their price target on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $113.00 price target on shares of Lam Research in a research note on Thursday, August 1st. Citigroup decreased their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Cantor Fitzgerald decreased their price target on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $141.28.

Lam Research Stock Performance

Shares of LRCX stock opened at $82.06 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The company has a market capitalization of $10.73 billion, a P/E ratio of 3.02, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company’s 50 day moving average price is $94.85 and its two-hundred day moving average price is $96.42. Lam Research has a 52 week low of $57.44 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.76 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. On average, analysts expect that Lam Research will post 35.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC lifted its holdings in shares of Lam Research by 16.7% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after buying an additional 9 shares in the last quarter. Thomasville National Bank lifted its holdings in shares of Lam Research by 1.5% during the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after buying an additional 12 shares in the last quarter. Ignite Planners LLC lifted its holdings in shares of Lam Research by 2.8% during the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after buying an additional 12 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Lam Research by 3.7% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after buying an additional 12 shares in the last quarter. Finally, RFP Financial Group LLC lifted its holdings in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after buying an additional 12 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.