Lam Research (NASDAQ:LRCX) had its price objective increased by analysts at Royal Bank of Canada to $245.00 in a research report issued on Thursday, The Fly reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 18.93% from the company’s current price.
LRCX has been the subject of several other reports. Vetr downgraded Lam Research from a “buy” rating to a “hold” rating and set a $196.77 price target for the company. in a research note on Monday, October 16th. BidaskClub upgraded Lam Research from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 10th. Susquehanna Bancshares upgraded Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the company from $200.00 to $250.00 in a research note on Tuesday, January 16th. Zacks Investment Research raised Lam Research from a “hold” rating to a “buy” rating and set a $234.00 price objective for the company in a report on Tuesday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $235.00 price objective on shares of Lam Research in a report on Monday. One investment analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $231.97.
Lam Research (NASDAQ:LRCX) traded down $3.72 during trading hours on Thursday, hitting $206.01. The company’s stock had a trading volume of 4,550,100 shares, compared to its average volume of 3,348,069. The firm has a market cap of $33,250.00, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 0.98 and a beta of 1.57. Lam Research has a 52-week low of $112.86 and a 52-week high of $219.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83.
Lam Research declared that its board has approved a share repurchase program on Tuesday, November 14th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board 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 dated Friday, November 24th. The stock was sold at an average price of $216.08, for a total value of $57,045.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Martin B. Anstice sold 21,955 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $211.16, for a total value of $4,636,017.80. The disclosure for this sale can be found here. Insiders have sold a total of 31,269 shares of company stock valued at $6,615,633 in the last three months. 0.41% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Krilogy Financial LLC grew its position in shares of Lam Research by 91.6% in the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 263 shares during the last quarter. Odey Holdings AG grew its position in shares of Lam Research by 9.9% in the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 73 shares during the last quarter. Bollard Group LLC bought a new stake in shares of Lam Research in the 3rd quarter valued at about $130,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Lam Research in the 3rd quarter valued at about $134,000. Finally, Sun Life Financial INC grew its position in shares of Lam Research by 10,672.7% in the 2nd quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 1,174 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.
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.
