Lam Research (NASDAQ:LRCX) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Lam Research (NASDAQ:LRCX) from a buy rating to a hold rating in a research note released on Saturday morning.

A number of other equities analysts have also commented on LRCX. Stifel Nicolaus lifted their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a buy rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their target price on Lam Research from $900.00 to $950.00 and gave the stock an overweight rating in a report on Thursday, April 25th. Wells Fargo & Company increased their price target on Lam Research from $930.00 to $980.00 and gave the company an equal weight rating in a research note on Tuesday, April 2nd. TD Cowen lifted their price objective on Lam Research from $975.00 to $1,000.00 and gave the stock a buy rating in a research note on Thursday, April 25th. Finally, B. Riley raised shares of Lam Research from a neutral rating to a buy rating and increased their target price for the company from $870.00 to $1,100.00 in a research report on Friday, April 19th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Price Performance

Shares of LRCX stock opened at $914.91 on Friday. Lam Research has a twelve month low of $512.09 and a twelve month high of $1,007.39. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $940.71 and a 200 day simple moving average of $824.74. The company has a market cap of $119.62 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.82 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $6.99 earnings per share. On average, sell-side analysts forecast that Lam Research will post 29.62 EPS for the current fiscal year.

Insider Activity

In other news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Patrick J. Lord sold 60 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the sale, the executive vice president now directly owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,489 shares of company stock worth $6,978,065. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Lam Research by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company’s stock valued at $9,173,343,000 after acquiring an additional 79,581 shares during the last quarter. Fisher Asset Management LLC grew its stake in Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after purchasing an additional 86,721 shares during the period. Morgan Stanley increased its position in shares of Lam Research by 3.2% during the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after purchasing an additional 56,824 shares during the last quarter. Norges Bank purchased a new stake in shares of Lam Research during the 4th quarter valued at $1,414,111,000. Finally, Northern Trust Corp raised its stake in shares of Lam Research by 9.7% during the 3rd quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock worth $954,705,000 after purchasing an additional 134,558 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.