Lam Research (NASDAQ:LRCX) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.
A number of other equities analysts also recently issued reports on the company. Deutsche Bank lifted their price target on Lam Research to $230.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. KeyCorp reiterated a “buy” rating and set a $225.00 price target on shares of Lam Research in a research note on Sunday, November 19th. DA Davidson reiterated a “buy” rating and set a $215.00 price target on shares of Lam Research in a research note on Thursday, October 12th. Royal Bank of Canada lifted their price target on Lam Research from $210.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, November 15th. Finally, B. Riley reiterated a “buy” rating and set a $250.00 price target on shares of Lam Research in a research note on Tuesday, November 14th. Two investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Lam Research presently has an average rating of “Buy” and an average target price of $220.80.
Lam Research (NASDAQ LRCX) opened at $207.53 on Friday. The stock has a market capitalization of $33,950.00, a PE ratio of 18.95, a price-to-earnings-growth ratio of 0.94 and a beta of 1.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31. Lam Research has a 12 month low of $111.34 and a 12 month high of $219.70.
Lam Research announced that its board has approved a share repurchase program on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
In other Lam Research news, insider Martin B. Anstice sold 21,955 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $211.16, for a total transaction of $4,636,017.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Patrick J. Lord sold 264 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The disclosure for this sale can be found here. Insiders sold a total of 31,269 shares of company stock worth $6,615,633 in the last ninety days. 0.41% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Signature Estate & Investment Advisors LLC raised its holdings in Lam Research by 15.2% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock valued at $738,000 after acquiring an additional 527 shares during the period. Putnam FL Investment Management Co. bought a new stake in Lam Research during the 3rd quarter valued at $15,390,000. Epoch Investment Partners Inc. raised its holdings in Lam Research by 0.9% during the 3rd quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock valued at $11,974,000 after acquiring an additional 600 shares during the period. Financial Enhancement Group LLC bought a new stake in Lam Research during the 3rd quarter valued at $295,000. Finally, 361 Capital LLC raised its holdings in Lam Research by 55.6% during the 2nd quarter. 361 Capital LLC now owns 30,606 shares of the semiconductor company’s stock valued at $4,329,000 after acquiring an additional 10,938 shares during the period. 93.45% of the stock is currently owned by institutional investors and hedge funds.
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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.
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