Lam Research (NASDAQ:LRCX) had its price objective upped by stock analysts at Morgan Stanley from $229.00 to $238.00 in a research note issued to investors on Thursday. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective suggests a potential upside of 19.45% from the stock’s previous close.
A number of other equities analysts also recently weighed in on LRCX. Stifel Nicolaus boosted their price target on shares of Lam Research from $235.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday. B. Riley reissued a “buy” rating and issued a $250.00 price target on shares of Lam Research in a report on Monday. ICAP reissued a “buy” rating and issued a $240.00 price target on shares of Lam Research in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price target (up from $235.00) on shares of Lam Research in a report on Thursday. Finally, BidaskClub raised shares of Lam Research from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. One research analyst has rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $232.41.
Lam Research (NASDAQ LRCX) traded down $10.48 during midday trading on Thursday, hitting $199.25. 8,277,302 shares of the stock traded hands, compared to its average volume of 2,940,000. Lam Research has a 12-month low of $112.86 and a 12-month high of $219.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31. The company has a market cap of $32,270.00, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 0.98 and a beta of 1.57.
Lam Research announced that its Board of Directors has authorized a stock buyback plan on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other 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 transaction of $57,045.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Martin B. Anstice sold 21,955 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were 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. Over the last quarter, insiders have sold 56,722 shares of company stock worth $12,088,028. Company insiders own 0.41% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Kalos Management Inc. increased its position in shares of Lam Research by 1.0% during the second quarter. Kalos Management Inc. now owns 6,284 shares of the semiconductor company’s stock valued at $888,000 after buying an additional 64 shares during the period. Odey Holdings AG increased its position in shares of Lam Research by 9.9% during the second 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 period. Hancock Holding Co. increased its position in shares of Lam Research by 1.3% during the second quarter. Hancock Holding Co. now owns 8,323 shares of the semiconductor company’s stock valued at $1,177,000 after buying an additional 107 shares during the period. First Allied Advisory Services Inc. increased its position in shares of Lam Research by 6.5% during the second quarter. First Allied Advisory Services Inc. now owns 1,940 shares of the semiconductor company’s stock valued at $278,000 after buying an additional 118 shares during the period. Finally, Sii Investments Inc. WI increased its position in shares of Lam Research by 6.0% during the third quarter. Sii Investments Inc. WI now owns 4,654 shares of the semiconductor company’s stock valued at $858,000 after buying an additional 262 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.
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.
