Lam Research (NASDAQ:LRCX) was upgraded by equities researchers at Instinet from a “neutral” rating to a “buy” rating in a report released on Thursday.

Several other equities research analysts have also recently weighed in on LRCX. B. Riley restated a “buy” rating and issued a $220.00 price target on shares of Lam Research in a research report on Thursday, August 10th. Zacks Investment Research cut shares of Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub cut shares of Lam Research from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. J P Morgan Chase & Co restated a “buy” rating and issued a $230.00 price target on shares of Lam Research in a research report on Wednesday, October 18th. Finally, DA Davidson restated a “buy” rating on shares of Lam Research in a research report on Wednesday, October 18th. Four research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $212.89.

Shares of Lam Research (NASDAQ LRCX) opened at $184.23 on Thursday. The stock has a market cap of $29,236.15, a P/E ratio of 15.55, a PEG ratio of 0.82 and a beta of 1.57. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24. Lam Research has a 1 year low of $102.69 and a 1 year high of $219.70.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the business posted $1.81 earnings per share. Lam Research’s quarterly revenue was up 51.8% on a year-over-year basis. sell-side analysts expect that Lam Research will post 14.74 EPS for the current year.

Lam Research announced that its Board of Directors has initiated a share buyback plan on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, COO Timothy Archer sold 15,638 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $175.65, for a total transaction of $2,746,814.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $170.00, for a total transaction of $127,500.00. The disclosure for this sale can be found here. Insiders have sold 71,688 shares of company stock valued at $13,783,130 over the last three months. Insiders own 0.41% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Krilogy Financial LLC raised its holdings in shares of Lam Research by 91.6% in the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 263 shares in the last quarter. Odey Holdings AG raised its holdings in shares of Lam Research by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 73 shares in the last quarter. BDO Wealth Advisors LLC bought a new stake in shares of Lam Research in the second quarter valued at about $118,000. Bollard Group LLC bought a new stake in shares of Lam Research in the third quarter valued at about $130,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Lam Research in the second quarter valued at about $134,000. 93.80% of the stock is owned by hedge funds and other institutional investors.

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Lam Research Company Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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