Lam Research (NASDAQ:LRCX) Rating Increased to Overweight at KeyCorp

Lam Research (NASDAQ:LRCX) was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a note issued to investors on Friday,Finviz reports. The brokerage presently has a $95.00 target price on the semiconductor company’s stock. KeyCorp’s price objective suggests a potential upside of 19.92% from the company’s current price.

A number of other research firms also recently issued reports on LRCX. Morgan Stanley raised their price target on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Stifel Nicolaus restated a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Finally, Wells Fargo & Company cut their target price on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.

Lam Research Trading Up 4.0 %

Shares of NASDAQ:LRCX opened at $79.22 on Friday. Lam Research has a 1 year low of $68.87 and a 1 year high of $113.00. The stock’s fifty day moving average price is $74.68 and its 200-day moving average price is $81.00. The company has a market cap of $101.93 billion, a P/E ratio of 25.60, a PEG ratio of 1.37 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company earned $6.85 earnings per share. Sell-side analysts expect that Lam Research will post 3.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LRCX. Van ECK Associates Corp lifted its position in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after buying an additional 15,005,178 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Lam Research in the 4th quarter worth approximately $175,652,000. Guinness Asset Management LTD raised its holdings in shares of Lam Research by 1,129.8% during the 4th quarter. Guinness Asset Management LTD now owns 482,156 shares of the semiconductor company’s stock worth $34,825,000 after acquiring an additional 442,949 shares in the last quarter. ARS Investment Partners LLC boosted its position in shares of Lam Research by 908.9% during the 4th quarter. ARS Investment Partners LLC now owns 490,881 shares of the semiconductor company’s stock valued at $35,456,000 after acquiring an additional 442,224 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. grew its holdings in shares of Lam Research by 886.9% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 349,792 shares of the semiconductor company’s stock valued at $25,266,000 after purchasing an additional 314,349 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

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.