Lam Research (NASDAQ:LRCX) Rating Lowered to “Peer Perform” at Wolfe Research

Lam Research (NASDAQ:LRCX) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a report released on Wednesday, MarketBeat reports.

A number of other brokerages have also commented on LRCX. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Sanford C. Bernstein reduced their target price on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. The Goldman Sachs Group decreased their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Finally, Mizuho cut their price target on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.59.

Lam Research Price Performance

NASDAQ:LRCX opened at $79.22 on Wednesday. The company has a market cap of $101.93 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.37 and a beta of 1.45. Lam Research has a 52-week low of $68.87 and a 52-week high of $113.00. The stock’s 50-day simple moving average is $74.68 and its 200 day simple moving average is $81.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the firm posted $6.85 earnings per share. The business’s revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts forecast that Lam Research will post 3.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Parisi Gray Wealth Management grew its stake in shares of Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY purchased a new stake in Lam Research in the fourth quarter worth $815,000. Jennison Associates LLC raised its stake in Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after acquiring an additional 39,725 shares during the period. Creative Planning lifted its stake in shares of Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares in the last quarter. Finally, Vest Financial LLC boosted its holdings in shares of Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.