Equities research analysts at FBN Securities began coverage on shares of Lam Research (NASDAQ:LRCX) in a research report issued on Thursday. The brokerage set an “outperform” rating and a $300.00 price target on the semiconductor company’s stock. FBN Securities’ target price indicates a potential upside of 35.18% from the stock’s current price.
A number of other brokerages also recently issued reports on LRCX. BidaskClub upgraded Lam Research from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Vetr downgraded Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price objective for the company. in a research note on Monday, March 12th. KeyCorp reiterated a “buy” rating and set a $225.00 price objective on shares of Lam Research in a research note on Sunday, November 19th. Deutsche Bank boosted their price objective on Lam Research to $250.00 and gave the company a “buy” rating in a research note on Wednesday, March 7th. Finally, DA Davidson boosted their price objective on Lam Research to $275.00 and gave the company a “buy” rating in a research note on Thursday, March 8th. Twenty-five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Lam Research presently has a consensus rating of “Buy” and a consensus price target of $242.23.
Shares of Lam Research (LRCX) opened at $221.92 on Thursday. Lam Research has a 52-week low of $123.96 and a 52-week high of $234.88. The company has a market cap of $36,351.45, a PE ratio of 24.47, a PEG ratio of 0.90 and a beta of 1.43. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.09 and a current ratio of 2.47.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.68 by $0.66. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the firm earned $2.24 EPS. The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. sell-side analysts expect that Lam Research will post 16.74 earnings per share for the current fiscal year.
Lam Research announced that its board has authorized a share repurchase program on Tuesday, March 6th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other Lam Research news, SVP Sarah A. O’dowd sold 1,835 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $212.64, for a total value of $390,194.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timothy Archer sold 6,465 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $214.28, for a total value of $1,385,320.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,619 shares of company stock worth $10,790,107. Insiders own 0.41% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Krilogy Financial LLC increased its stake in Lam Research by 91.6% in the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 263 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Lam Research by 144.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 392 shares during the period. Focused Wealth Management Inc purchased a new position in shares of Lam Research during the fourth quarter valued at $140,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Lam Research during the third quarter valued at $185,000. Finally, Stephens Inc. AR increased its stake in shares of Lam Research by 100.0% during the third quarter. Stephens Inc. AR now owns 1,072 shares of the semiconductor company’s stock valued at $198,000 after buying an additional 536 shares during the period. Institutional investors and hedge funds own 90.06% of the company’s stock.
WARNING: This story was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and international trademark & copyright law. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2018/03/17/fbn-securities-initiates-coverage-on-lam-research-lrcx.html.
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.
Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.