Lam Research (NASDAQ:LRCX) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday, January 20th.
A number of other brokerages have also weighed in on LRCX. KeyCorp reissued a “buy” rating and issued a $225.00 target price on shares of Lam Research in a research report on Sunday, November 19th. B. Riley reaffirmed a “buy” rating and set a $250.00 price target on shares of Lam Research in a research report on Tuesday, November 14th. Royal Bank of Canada upped their price target on shares of Lam Research from $210.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, November 15th. Deutsche Bank upped their price target on shares of Lam Research to $230.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Finally, Vetr lowered shares of Lam Research from a “strong-buy” rating to a “buy” rating and set a $218.49 price target for the company. in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $232.41.
Lam Research (NASDAQ LRCX) opened at $172.95 on Friday. The stock has a market cap of $28,010.00, a PE ratio of 19.05, a P/E/G ratio of 0.67 and a beta of 1.47. Lam Research has a one year low of $113.20 and a one year high of $219.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09.
Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.66. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the firm earned $2.24 EPS. Lam Research’s revenue was up 37.1% on a year-over-year basis. analysts expect that Lam Research will post 16.74 earnings per share for the current year.
Lam Research declared that its board has approved a share repurchase plan on Tuesday, November 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
In other news, VP Patrick J. Lord sold 264 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $216.08, for a total transaction of $57,045.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Seshasayee Varadarajan sold 25,453 shares of the stock in a transaction on Tuesday, January 23rd. The shares were 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. Insiders have sold a total of 56,722 shares of company stock valued at $12,088,028 over the last quarter. Corporate insiders own 0.41% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Krilogy Financial LLC raised its holdings in Lam Research by 91.6% during the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 263 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Lam Research by 144.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 392 shares during the period. Bollard Group LLC purchased a new stake in Lam Research in the third quarter worth $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Lam Research in the third quarter worth $134,000. Finally, Odey Holdings AG increased its stake in Lam Research by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 73 shares during the period. Institutional investors own 92.49% of the company’s stock.
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About Lam Research
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.
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