Lam Research (NASDAQ:LRCX) Downgraded to “Hold” at StockNews.com

Lam Research (NASDAQ:LRCXGet Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other analysts have also recently commented on LRCX. TD Cowen lifted their target price on shares of Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company lifted their target price on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus lifted their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Susquehanna lowered their target price on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $1,030.00 target price on shares of Lam Research in a research note on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus price target of $964.86.

Check Out Our Latest Research Report on LRCX

Lam Research Trading Down 0.2 %

Shares of LRCX opened at $1,035.98 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The firm has a 50 day simple moving average of $940.35 and a 200-day simple moving average of $881.20. Lam Research has a 1-year low of $574.42 and a 1-year high of $1,044.80. The stock has a market cap of $135.44 billion, a price-to-earnings ratio of 38.10, a price-to-earnings-growth ratio of 3.58 and a beta of 1.46.

Lam Research’s stock is scheduled to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCXGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the company posted $6.99 EPS. The company’s revenue was down 2.0% on a year-over-year basis. Equities analysts forecast that Lam Research will post 29.67 EPS for the current fiscal year.

Lam Research declared that its board has authorized a stock buyback plan on Tuesday, May 21st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Lam Research

In related news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Lord sold 60 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the transaction, the executive vice president now owns 4,454 shares in the company, valued at approximately $4,104,539.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,489 shares of company stock worth $6,978,065. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

A number of institutional investors have recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in shares of Lam Research in the 3rd quarter worth about $25,000. DSM Capital Partners LLC bought a new stake in shares of Lam Research in the 4th quarter worth about $28,000. Asset Dedication LLC increased its position in shares of Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Lam Research in the 4th quarter worth about $30,000. Finally, Partnership Wealth Management LLC bought a new stake in shares of Lam Research in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

About Lam Research

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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