Lam Research (NASDAQ:LRCX) Raised to Buy at StockNews.com

Lam Research (NASDAQ:LRCX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other equities analysts have also commented on the stock. B. Riley upped their price objective on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a report on Thursday, June 20th. Cantor Fitzgerald decreased their price target on Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday. Wells Fargo & Company dropped their price objective on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a research note on Thursday. TD Cowen boosted their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Barclays raised their target price on Lam Research from $86.50 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.28.

Lam Research Trading Down 0.4 %

LRCX stock traded down $0.30 during trading on Thursday, reaching $81.11. 6,349,559 shares of the stock were exchanged, compared to its average volume of 11,070,592. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of 2.98, a P/E/G ratio of 1.51 and a beta of 1.48. Lam Research has a 1 year low of $57.44 and a 1 year high of $113.00. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $95.45 and a 200-day moving average price of $96.80.

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

Insider Activity

In other news, SVP Neil J. Fernandes sold 16,200 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $105.70, for a total value of $1,712,323.80. Following the completion of the transaction, the senior vice president now owns 52,370 shares in the company, valued at approximately $5,535,456.63. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Neil J. Fernandes sold 16,200 shares of Lam Research stock in a transaction on Friday, July 12th. The stock was sold at an average price of $105.70, for a total value of $1,712,323.80. Following the transaction, the senior vice president now directly owns 52,370 shares of the company’s stock, valued at $5,535,456.63. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Large investors have recently bought and sold shares of the stock. Symmetry Investments LP acquired a new stake in shares of Lam Research in the second quarter worth approximately $3,229,000. 3Chopt Investment Partners LLC acquired a new position in shares of Lam Research during the second quarter worth $1,105,000. Cypress Capital Group boosted its position in Lam Research by 23.1% in the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after buying an additional 661 shares during the last quarter. Brown Financial Advisors purchased a new position in shares of Lam Research during the 2nd quarter valued at approximately $1,489,000. Finally, Albar Capital Ltd bought a new position in Lam Research during the 2nd quarter valued at $3,123,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Company Profile

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.