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

Lam Research (NASDAQ:LRCX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

LRCX has been the subject of a number of other reports. Wells Fargo & Company lifted their price target on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Needham & Company LLC reissued a “buy” rating and set a $1,030.00 price objective on shares of Lam Research in a report on Thursday. B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $870.00 to $1,100.00 in a report on Friday, April 19th. Citigroup boosted their price objective on Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus boosted their price objective on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded up $23.90 on Friday, hitting $925.37. The stock had a trading volume of 1,396,985 shares, compared to its average volume of 1,075,576. Lam Research has a twelve month low of $493.42 and a twelve month high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The firm’s 50 day moving average price is $943.67 and its 200-day moving average price is $809.10. The company has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 3.20 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.76% and a net margin of 25.35%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the business posted $6.99 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that Lam Research will post 28.96 earnings per share for the current year.

Insider Transactions at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of the company’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 transaction of $628,903.41. Following the sale, the chief accounting officer now 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 available at the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction 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 sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The shares were 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 owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock worth $6,559,489 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LRCX. Exchange Traded Concepts LLC increased its position in Lam Research by 28.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,458 shares of the semiconductor company’s stock worth $1,541,000 after buying an additional 549 shares during the period. Strategic Blueprint LLC increased its position in Lam Research by 18.2% during the 3rd quarter. Strategic Blueprint LLC now owns 1,137 shares of the semiconductor company’s stock worth $713,000 after buying an additional 175 shares during the period. Oak Thistle LLC grew its holdings in shares of Lam Research by 14.5% during the 3rd quarter. Oak Thistle LLC now owns 530 shares of the semiconductor company’s stock worth $332,000 after purchasing an additional 67 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Lam Research by 2.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 62,610 shares of the semiconductor company’s stock worth $39,242,000 after purchasing an additional 1,217 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Lam Research by 4.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 50,572 shares of the semiconductor company’s stock worth $31,697,000 after purchasing an additional 2,105 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

About Lam Research

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.