Lam Research (NASDAQ:LRCX) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.
LRCX has been the subject of a number of other reports. Zacks Investment Research raised Lam Research from a “sell” rating to a “hold” rating and set a $221.00 price objective for the company in a report on Friday, October 13th. Argus began coverage on Lam Research in a report on Tuesday, September 12th. They set a “buy” rating and a $196.00 price objective for the company. KeyCorp reissued a “buy” rating and set a $225.00 price objective on shares of Lam Research in a report on Sunday, November 19th. Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective (up from $200.00) on shares of Lam Research in a report on Friday, October 13th. Finally, Berenberg Bank reissued a “buy” rating and set a $240.00 price objective on shares of Lam Research in a report on Thursday, October 19th. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Lam Research currently has an average rating of “Buy” and an average target price of $213.83.
Lam Research (LRCX) opened at $197.57 on Wednesday. The stock has a market capitalization of $31,460.00, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 0.90 and a beta of 1.57. Lam Research has a twelve month low of $106.80 and a twelve month high of $219.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31.
Lam Research announced that its Board of Directors has approved a share buyback program on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Michael R. Cannon sold 9,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $212.43, for a total transaction of $1,911,870.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Patrick J. Lord sold 264 shares of the business’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $216.08, for a total value of $57,045.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,769 shares of company stock valued at $6,904,451. Corporate insiders own 0.41% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Krilogy Financial LLC grew its position 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 worth $102,000 after buying an additional 263 shares during the period. Bollard Group LLC acquired a new position in shares of Lam Research during the 3rd quarter worth about $130,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Lam Research during the 3rd quarter worth about $134,000. Odey Holdings AG grew its position in shares of Lam Research by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after buying an additional 73 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Lam Research during the 3rd quarter worth about $185,000. Institutional investors own 93.37% of the company’s stock.
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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