Lam Research (LRCX) Trading Up 7.1%

Lam Research Co. (NASDAQ:LRCX) shares were up 7.1% during trading on Thursday . The company traded as high as $152.04 and last traded at $151.86. Approximately 5,785,167 shares changed hands during trading, an increase of 70% from the average daily volume of 3,409,416 shares. The stock had previously closed at $141.73.

A number of research analysts recently commented on LRCX shares. BidaskClub downgraded Lam Research from a “sell” rating to a “strong sell” rating in a research note on Friday, August 31st. Zacks Investment Research downgraded Lam Research from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. DA Davidson lowered their price objective on Lam Research to $225.00 in a research note on Monday, October 15th. Deutsche Bank restated a “hold” rating and set a $170.00 price objective (down from $230.00) on shares of Lam Research in a research note on Monday, October 1st. Finally, Evercore ISI lowered their price objective on Lam Research to $240.00 and set an “outperform” rating for the company in a research note on Tuesday, July 17th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Lam Research currently has an average rating of “Buy” and a consensus target price of $224.22.

The company has a market capitalization of $23.51 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 0.88 and a beta of 1.30. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.66 and a quick ratio of 2.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.22 by $0.14. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the business posted $3.46 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Lam Research Co. will post 14.37 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Lam Research by 3.5% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 26,337 shares of the semiconductor company’s stock valued at $3,995,000 after buying an additional 900 shares during the period. American Century Companies Inc. lifted its holdings in shares of Lam Research by 14.4% in the third quarter. American Century Companies Inc. now owns 996,198 shares of the semiconductor company’s stock valued at $151,123,000 after buying an additional 125,538 shares during the period. Nikulski Financial Inc. lifted its holdings in shares of Lam Research by 25.9% in the third quarter. Nikulski Financial Inc. now owns 1,765 shares of the semiconductor company’s stock valued at $250,000 after buying an additional 363 shares during the period. Cadence Capital Management LLC lifted its holdings in shares of Lam Research by 38.3% in the third quarter. Cadence Capital Management LLC now owns 28,970 shares of the semiconductor company’s stock valued at $4,395,000 after buying an additional 8,016 shares during the period. Finally, HL Financial Services LLC lifted its holdings in shares of Lam Research by 12.6% in the third quarter. HL Financial Services LLC now owns 52,101 shares of the semiconductor company’s stock valued at $7,904,000 after buying an additional 5,835 shares during the period. Institutional investors and hedge funds own 91.85% of the company’s stock.

Lam Research Company Profile (NASDAQ:LRCX)

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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