Lam Research Corporation (LRCX) Raised to Buy at BidaskClub

Lam Research Corporation (NASDAQ:LRCX) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday, July 12th.

Several other equities analysts have also recently issued reports on LRCX. Pacific Crest raised Lam Research Corporation from a “sector weight” rating to an “overweight” rating in a research note on Thursday, March 16th. Zacks Investment Research cut Lam Research Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $150.00 price target (up from $125.00) on shares of Lam Research Corporation in a research note on Monday, March 27th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $125.00 price target on shares of Lam Research Corporation in a research note on Monday, April 3rd. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Lam Research Corporation in a research note on Monday, April 17th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Lam Research Corporation presently has a consensus rating of “Buy” and a consensus price target of $172.41.

Lam Research Corporation (NASDAQ LRCX) opened at 154.26 on Wednesday. The company has a market capitalization of $24.95 billion, a PE ratio of 16.69 and a beta of 1.46. Lam Research Corporation has a one year low of $89.10 and a one year high of $170.00. The company has a 50 day moving average price of $154.07 and a 200-day moving average price of $139.36.

Lam Research Corporation (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm earned $1.80 earnings per share. The business’s revenue was up 51.6% compared to the same quarter last year. Analysts expect that Lam Research Corporation will post $12.71 EPS for the current fiscal year.

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In other news, COO Timothy Archer sold 8,942 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $155.51, for a total transaction of $1,390,570.42. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen G. Newberry sold 20,047 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $150.01, for a total value of $3,007,250.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,656 shares of company stock worth $7,925,366. Corporate insiders own 0.46% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of LRCX. Quadrant Capital Group LLC increased its position in Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock worth $168,000 after buying an additional 4 shares in the last quarter. Keel Point LLC increased its position in Lam Research Corporation by 0.4% in the first quarter. Keel Point LLC now owns 2,303 shares of the semiconductor company’s stock worth $296,000 after buying an additional 9 shares in the last quarter. Wetherby Asset Management Inc. increased its position in Lam Research Corporation by 0.7% in the second quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock worth $253,000 after buying an additional 12 shares in the last quarter. Fiduciary Trust Co. increased its position in Lam Research Corporation by 1.0% in the second quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock worth $289,000 after buying an additional 20 shares in the last quarter. Finally, IFP Advisors Inc increased its position in Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock worth $109,000 after buying an additional 22 shares in the last quarter. 98.98% of the stock is currently owned by institutional investors.

Lam Research Corporation 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.

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