Vetr Downgrades Lam Research (LRCX) to Buy

Lam Research (NASDAQ:LRCX) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, January 10th. They presently have a $215.24 target price on the semiconductor company’s stock. Vetr‘s target price indicates a potential upside of 26.35% from the stock’s current price.

Several other analysts also recently issued reports on the company. Deutsche Bank raised their price target on Lam Research to $230.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. KeyCorp restated a “buy” rating and issued a $225.00 target price on shares of Lam Research in a research report on Sunday, November 19th. DA Davidson restated a “buy” rating and issued a $215.00 target price on shares of Lam Research in a research report on Thursday, October 12th. Royal Bank of Canada raised their target price on Lam Research from $210.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, November 15th. Finally, B. Riley restated a “buy” rating and issued a $250.00 target price on shares of Lam Research in a research report on Tuesday, November 14th. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $232.41.

Lam Research (NASDAQ:LRCX) opened at $170.35 on Wednesday. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29. Lam Research has a 1-year low of $113.20 and a 1-year high of $219.70. The company has a market capitalization of $29,178.27, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 0.72 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.66. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The business’s revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the business posted $2.24 EPS. sell-side analysts expect that Lam Research will post 16.74 earnings per share for the current year.

Lam Research announced that its board has authorized a stock repurchase program on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other news, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $216.08, for a total value of $57,045.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Seshasayee Varadarajan sold 25,453 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total value of $5,472,395.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,722 shares of company stock valued at $12,088,028. Corporate insiders own 0.41% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Signature Estate & Investment Advisors LLC boosted its position in shares of Lam Research by 15.2% in the third quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock worth $738,000 after buying an additional 527 shares during the period. Putnam FL Investment Management Co. acquired a new stake in shares of Lam Research in the third quarter worth $15,390,000. Epoch Investment Partners Inc. boosted its position in shares of Lam Research by 0.9% in the third quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock worth $11,974,000 after buying an additional 600 shares during the period. Financial Enhancement Group LLC acquired a new stake in shares of Lam Research in the third quarter worth $295,000. Finally, 361 Capital LLC boosted its position in Lam Research by 55.6% during the second quarter. 361 Capital LLC now owns 30,606 shares of the semiconductor company’s stock valued at $4,329,000 after purchasing an additional 10,938 shares during the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

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Lam Research Company Profile

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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