Stock analysts at FBN Securities assumed coverage on shares of Lam Research (NASDAQ:LRCX) in a note issued to investors on Thursday, March 15th, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $300.00 price target on the semiconductor company’s stock. FBN Securities’ price target would suggest a potential upside of 57.36% from the company’s current price.
Several other research firms have also issued reports on LRCX. BidaskClub lowered Lam Research from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Susquehanna Bancshares raised Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the company from $200.00 to $250.00 in a report on Tuesday, January 16th. Zacks Investment Research raised Lam Research from a “hold” rating to a “buy” rating and set a $234.00 price target for the company in a report on Tuesday, January 23rd. DA Davidson reissued a “buy” rating and set a $235.00 price target on shares of Lam Research in a report on Monday, January 22nd. Finally, JPMorgan Chase boosted their price objective on Lam Research from $230.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Lam Research has a consensus rating of “Buy” and an average target price of $245.14.
Shares of LRCX stock traded down $4.37 during mid-day trading on Thursday, hitting $190.65. The company’s stock had a trading volume of 3,123,943 shares, compared to its average volume of 3,572,359. Lam Research has a 52-week low of $124.91 and a 52-week high of $234.88. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09. The stock has a market capitalization of $31,066.80, a P/E ratio of 19.10, a P/E/G ratio of 0.64 and a beta of 1.41.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, topping the Thomson Reuters’ 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 company 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 company posted $2.24 earnings per share. Lam Research’s revenue was up 37.1% compared to the same quarter last year. analysts anticipate that Lam Research will post 16.76 earnings per share for the current year.
Lam Research declared that its board has approved a share repurchase plan on Tuesday, March 6th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
In related news, COO Timothy Archer sold 16,574 shares of the stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $221.41, for a total value of $3,669,649.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Martin B. Anstice sold 11,200 shares of the stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $225.00, for a total value of $2,520,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,393 shares of company stock worth $19,222,556. Insiders own 0.41% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Sii Investments Inc. WI lifted its holdings in shares of Lam Research by 6.0% during the 3rd quarter. Sii Investments Inc. WI now owns 4,654 shares of the semiconductor company’s stock valued at $858,000 after purchasing an additional 262 shares during the last quarter. Krilogy Financial LLC lifted its holdings in shares of 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 purchasing an additional 263 shares during the last quarter. Investec Asset Management PTY Ltd lifted its holdings in shares of Lam Research by 3.4% during the 3rd quarter. Investec Asset Management PTY Ltd now owns 8,103 shares of the semiconductor company’s stock valued at $1,475,000 after purchasing an additional 265 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Lam Research by 1.6% during the 3rd quarter. Amalgamated Bank now owns 19,460 shares of the semiconductor company’s stock valued at $3,601,000 after purchasing an additional 298 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA lifted its holdings in shares of Lam Research by 12.9% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 2,626 shares of the semiconductor company’s stock valued at $484,000 after purchasing an additional 300 shares during the last quarter. 90.04% of the stock is currently owned by institutional investors.
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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.
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