Lam Research (LRCX) Downgraded to Hold at Vetr

Lam Research (NASDAQ:LRCX) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday. They currently have a $218.49 price objective on the semiconductor company’s stock. Vetr‘s target price indicates a potential upside of 1.59% from the stock’s current price.

A number of other brokerages have also weighed in on LRCX. KeyCorp restated a “buy” rating and set a $225.00 price objective on shares of Lam Research in a research report on Sunday, November 19th. B. Riley restated a “buy” rating and set a $250.00 price objective on shares of Lam Research in a research report on Tuesday, November 14th. Zacks Investment Research upgraded Lam Research from a “hold” rating to a “buy” rating and set a $234.00 price objective for the company in a research report on Tuesday. Royal Bank of Canada raised their price objective on Lam Research from $210.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, November 15th. Finally, Deutsche Bank raised their price objective on Lam Research to $230.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Two analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $222.98.

Shares of Lam Research (LRCX) traded up $5.88 during trading on Tuesday, hitting $215.07. The stock had a trading volume of 4,319,334 shares, compared to its average volume of 2,840,000. The stock has a market capitalization of $34,830.00, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 0.95 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 52-week low of $112.21 and a 52-week high of $219.70.

Lam Research declared that its board has approved a stock buyback program on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other Lam Research news, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Martin B. Anstice sold 21,955 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $211.16, for a total transaction of $4,636,017.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,269 shares of company stock valued at $6,615,633. 0.41% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio lifted its stake in Lam Research by 60.3% in the fourth quarter. Strs Ohio now owns 92,270 shares of the semiconductor company’s stock worth $16,984,000 after purchasing an additional 34,717 shares during the last quarter. Bowling Portfolio Management LLC raised its stake in shares of Lam Research by 31.3% during the fourth quarter. Bowling Portfolio Management LLC now owns 29,640 shares of the semiconductor company’s stock valued at $5,456,000 after acquiring an additional 7,070 shares in the last quarter. Arvest Bank Trust Division bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $11,306,000. State of Alaska Department of Revenue raised its stake in shares of Lam Research by 168.6% during the fourth quarter. State of Alaska Department of Revenue now owns 19,004 shares of the semiconductor company’s stock valued at $3,497,000 after acquiring an additional 11,930 shares in the last quarter. Finally, BKD Wealth Advisors LLC raised its stake in shares of Lam Research by 13.5% during the fourth quarter. BKD Wealth Advisors LLC now owns 2,803 shares of the semiconductor company’s stock valued at $516,000 after acquiring an additional 333 shares in the last quarter. 93.01% of the stock is 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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