Lam Research (NASDAQ:LRCX) Downgraded by StockNews.com

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

LRCX has been the topic of several other research reports. Stifel Nicolaus raised 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. Citigroup upped their price objective on Lam Research from $975.00 to $1,025.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $1,100.00 target price on shares of Lam Research in a research report on Thursday, April 25th. Evercore ISI began coverage on Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Stock Performance

Shares of LRCX stock opened at $908.53 on Friday. The company has a current ratio of 2.82, a quick ratio of 1.84 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $119.11 billion, a P/E ratio of 33.41, a P/E/G ratio of 2.70 and a beta of 1.51. The business’s 50 day moving average is $941.71 and its two-hundred day moving average is $816.04. Lam Research has a 12-month low of $507.19 and a 12-month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) 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 analyst estimates of $3.72 billion. During the same quarter in the prior year, the firm earned $6.99 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts expect that Lam Research will post 29.62 EPS for the current fiscal year.

Insider Transactions at Lam Research

In related news, EVP Patrick J. Lord sold 60 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 4,454 shares of the company’s stock, valued at approximately $4,104,539.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Abhijit Y. Talwalkar sold 882 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 $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Lord sold 60 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 4,454 shares in the company, valued at $4,104,539.16. The disclosure for this sale can be found here. Insiders have sold 7,089 shares of company stock worth $6,614,781 in the last three months. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Several hedge funds have recently modified their holdings of the company. Blue Whale Capital LLP raised its stake in Lam Research by 0.7% during the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after buying an additional 800 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in Lam Research by 20.9% during the fourth quarter. Citizens Financial Group Inc. RI now owns 491 shares of the semiconductor company’s stock worth $384,000 after buying an additional 85 shares during the last quarter. Everence Capital Management Inc. lifted its stake in shares of Lam Research by 54.7% in the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after buying an additional 1,440 shares in the last quarter. Gradient Investments LLC increased its position in shares of Lam Research by 32,411.1% during the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after acquiring an additional 14,585 shares in the last quarter. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Lam Research in the fourth quarter worth approximately $7,930,000. 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.