Lam Research (NASDAQ:LRCX) was upgraded by equities research analysts at Susquehanna Bancshares from a “neutral” rating to a “positive” rating in a research note issued on Tuesday.
LRCX has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target (up from $200.00) on shares of Lam Research in a research report on Friday, October 13th. KeyCorp reissued a “buy” rating and set a $225.00 price target on shares of Lam Research in a research report on Sunday, November 19th. BidaskClub cut Lam Research from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. B. Riley reissued a “buy” rating and set a $250.00 price target on shares of Lam Research in a research report on Tuesday, November 14th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Lam Research in a research report on Thursday, October 19th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Lam Research presently has an average rating of “Buy” and a consensus target price of $213.83.
Lam Research (NASDAQ:LRCX) opened at $188.51 on Tuesday. Lam Research has a 52-week low of $108.46 and a 52-week high of $219.70. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $30,530.00, a P/E ratio of 17.22, a P/E/G ratio of 0.86 and a beta of 1.57.
Lam Research declared that its Board of Directors has authorized a share buyback program on Tuesday, November 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other news, insider Martin B. Anstice sold 21,955 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $211.16, for a total transaction of $4,636,017.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael R. Cannon sold 9,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $212.43, for a total value of $1,911,870.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,269 shares of company stock worth $6,615,633. 0.41% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in LRCX. Vantage Financial Partners Ltd. Inc. bought a new position in Lam Research during the 2nd quarter worth $254,000. Krilogy Financial LLC increased its stake in Lam Research by 91.6% during the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 263 shares during the period. Bollard Group LLC bought a new position in Lam Research during the 3rd quarter worth $130,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Lam Research during the 3rd quarter worth $134,000. Finally, Odey Holdings AG increased its stake in Lam Research by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 73 shares during the period. Institutional investors own 93.45% of the company’s stock.
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About Lam Research
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.
