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

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

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group lifted their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Wells Fargo & Company upped their target price 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. Mizuho raised their price target on Lam Research from $935.00 to $960.00 and gave the stock a buy rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. upped their price objective on Lam Research from $900.00 to $950.00 and gave the company an overweight rating in a research report on Thursday, April 25th. Finally, Stifel Nicolaus lifted their target price on Lam Research from $950.00 to $1,050.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research has an average rating of Moderate Buy and an average price target of $950.85.

Lam Research Stock Performance

NASDAQ:LRCX opened at $914.91 on Friday. The stock has a 50-day moving average price of $940.71 and a 200 day moving average price of $824.74. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. Lam Research has a 12-month low of $512.09 and a 12-month high of $1,007.39. The stock has a market capitalization 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 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the company earned $6.99 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that Lam Research will post 29.62 EPS for the current fiscal year.

Insider Transactions at Lam Research

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred 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 filing with the SEC, which is available through this link. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was 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 $10,246,168.23. 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. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Lam Research by 0.7% in 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 purchasing an additional 79,581 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Lam Research by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after buying an additional 86,721 shares in the last quarter. Morgan Stanley boosted 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 worth $1,164,490,000 after purchasing an additional 56,824 shares in the last quarter. Norges Bank acquired a new stake in shares of Lam Research during the 4th quarter valued at approximately $1,414,111,000. Finally, Northern Trust Corp boosted 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 acquiring an additional 134,558 shares in the last quarter. Institutional investors and hedge funds 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.