Lam Research Corporation (NASDAQ:LRCX) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday, July 12th.
LRCX has been the subject of a number of other reports. Morgan Stanley reiterated an “overweight” rating and issued a $129.00 price target on shares of Lam Research Corporation in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) cut Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and increased their price target for the company from $153.00 to $160.00 in a research note on Monday, May 8th. They noted that the move was a valuation call. B. Riley reaffirmed a “buy” rating and set a $175.00 target price on shares of Lam Research Corporation in a research report on Wednesday, April 19th. UBS AG reaffirmed a “buy” rating and set a $180.00 target price (up from $158.00) on shares of Lam Research Corporation in a research report on Wednesday, May 17th. Finally, Deutsche Bank AG raised their target price on Lam Research Corporation from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, May 30th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $172.41.
Shares of Lam Research Corporation (LRCX) traded down 0.06% on Wednesday, reaching $155.75. 2,597,460 shares of the company traded hands. Lam Research Corporation has a 52-week low of $88.13 and a 52-week high of $170.00. The firm has a 50-day moving average of $153.65 and a 200-day moving average of $137.56. The company has a market capitalization of $25.19 billion, a PE ratio of 16.86 and a beta of 1.46.
Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the company earned $1.80 earnings per share. The company’s quarterly revenue was up 51.6% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.
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In related news, COO Timothy Archer sold 8,942 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $155.51, for a total transaction of $1,390,570.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total transaction of $120,375.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,656 shares of company stock worth $7,925,366. Corporate insiders own 0.46% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Main Street Research LLC raised its stake in Lam Research Corporation by 3.6% in the second quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock valued at $13,856,000 after buying an additional 3,367 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Lam Research Corporation by 81.0% in the first quarter. Van ECK Associates Corp now owns 239,488 shares of the semiconductor company’s stock worth $30,741,000 after buying an additional 107,149 shares during the last quarter. Soros Fund Management LLC bought a new stake in Lam Research Corporation during the first quarter valued at $71,978,000. Rafferty Asset Management LLC increased its stake in Lam Research Corporation by 21.9% in the first quarter. Rafferty Asset Management LLC now owns 46,035 shares of the semiconductor company’s stock valued at $5,909,000 after buying an additional 8,255 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Lam Research Corporation by 8.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 24,838 shares of the semiconductor company’s stock valued at $3,188,000 after buying an additional 1,879 shares in the last quarter. Institutional investors own 98.98% of the company’s stock.
Lam Research Corporation 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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