B. Riley Reiterates “Buy” Rating for Lam Research (LRCX)

Lam Research (NASDAQ:LRCX)‘s stock had its “buy” rating restated by investment analysts at B. Riley in a report released on Monday. They currently have a $250.00 price target on the semiconductor company’s stock. B. Riley’s price target points to a potential upside of 19.51% from the stock’s current price.

A number of other analysts also recently issued reports on LRCX. Zacks Investment Research downgraded shares of Lam Research from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. DA Davidson reiterated a “buy” rating and issued a $215.00 price objective on shares of Lam Research in a report on Thursday, October 12th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective (up from $200.00) on shares of Lam Research in a report on Friday, October 13th. Vetr downgraded shares of Lam Research from a “buy” rating to a “hold” rating and set a $196.77 price objective on the stock. in a report on Monday, October 16th. Finally, Stifel Nicolaus lifted their price objective on shares of Lam Research from $215.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $222.39.

Lam Research (NASDAQ:LRCX) traded up $1.66 during midday trading on Monday, hitting $209.19. 2,804,317 shares of the stock were exchanged, compared to its average volume of 2,880,000. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24. Lam Research has a 12 month low of $111.34 and a 12 month high of $219.70. The firm has a market capitalization of $33,880.00, a P/E ratio of 19.10, a PEG ratio of 0.95 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 repurchase 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 Lam Research news, VP Patrick J. Lord sold 264 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael R. Cannon sold 9,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $212.43, for a total transaction of $1,911,870.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,269 shares of company stock worth $6,615,633. Corporate insiders own 0.41% of the company’s stock.

Several large investors have recently added to or reduced their stakes in LRCX. ETRADE Capital Management LLC increased its holdings in shares of Lam Research by 0.5% in the second quarter. ETRADE Capital Management LLC now owns 5,833 shares of the semiconductor company’s stock valued at $825,000 after purchasing an additional 28 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Lam Research by 84.8% in the second quarter. MML Investors Services LLC now owns 3,514 shares of the semiconductor company’s stock valued at $497,000 after purchasing an additional 1,612 shares during the last quarter. Suntrust Banks Inc. increased its holdings in shares of Lam Research by 4.9% in the second quarter. Suntrust Banks Inc. now owns 6,334 shares of the semiconductor company’s stock valued at $894,000 after purchasing an additional 297 shares during the last quarter. Cibc World Markets Corp increased its holdings in shares of Lam Research by 94.5% in the second quarter. Cibc World Markets Corp now owns 34,768 shares of the semiconductor company’s stock valued at $4,917,000 after purchasing an additional 16,897 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Lam Research by 54.9% in the second quarter. Parametric Portfolio Associates LLC now owns 464,339 shares of the semiconductor company’s stock valued at $65,671,000 after purchasing an additional 164,519 shares during the last quarter. Hedge funds and other institutional investors own 93.01% 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.

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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