Lam Research (LRCX) Rating Increased to Strong-Buy at Vetr

Lam Research (NASDAQ:LRCX) was upgraded by research analysts at Vetr from a “hold” rating to a “strong-buy” rating in a report issued on Thursday. The brokerage currently has a $237.41 price target on the semiconductor company’s stock. Vetr‘s target price would suggest a potential upside of 17.20% from the stock’s previous close.

Several other equities research analysts have also commented on LRCX. B. Riley restated a “buy” rating and set a $250.00 target price on shares of Lam Research in a research report on Monday, January 22nd. BidaskClub upgraded Lam Research from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. DA Davidson reiterated a “buy” rating and issued a $235.00 price target on shares of Lam Research in a report on Monday, January 22nd. Nomura reiterated a “buy” rating and issued a $230.00 price target on shares of Lam Research in a report on Monday, January 22nd. Finally, Zacks Investment Research upgraded Lam Research from a “hold” rating to a “buy” rating and set a $234.00 price target on the stock in a report on Tuesday, January 23rd. One analyst has rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $232.41.

Shares of Lam Research (NASDAQ:LRCX) traded up $3.32 during trading on Thursday, hitting $202.57. The company had a trading volume of 4,713,199 shares, compared to its average volume of 3,200,000. Lam Research has a 52 week low of $113.20 and a 52 week high of $219.70. The company has a current ratio of 2.47, a quick ratio of 2.83 and a debt-to-equity ratio of 0.29. The company has a market cap of $32,810.00, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 0.91 and a beta of 1.57.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, beating the consensus estimate of $3.68 by $0.66. Lam Research had a return on equity of 36.26% and a net margin of 17.60%. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the company earned $2.24 EPS. The firm’s revenue for the quarter was up 37.1% compared to the same quarter last year. analysts predict that Lam Research will post 14.81 earnings per share for the current fiscal year.

Lam Research declared that its board has authorized a share buyback plan on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, insider Seshasayee Varadarajan sold 25,453 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total value of $5,472,395.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The disclosure for this sale can be found here. Insiders sold 56,722 shares of company stock worth $12,088,028 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased its position in shares of Lam Research by 23,238.8% during the second quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock valued at $670,756,000 after acquiring an additional 4,722,348 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Lam Research by 3,248.5% during the third quarter. Schroder Investment Management Group now owns 703,625 shares of the semiconductor company’s stock valued at $127,933,000 after acquiring an additional 682,612 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Lam Research by 66.0% during the third quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock valued at $291,488,000 after acquiring an additional 626,034 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Lam Research during the second quarter valued at approximately $309,000. Finally, Graticule Asia Macro Advisors LLC purchased a new stake in shares of Lam Research during the third quarter valued at approximately $51,400,000. Institutional investors own 93.01% of the company’s stock.

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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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