StockNews.com Downgrades Lam Research (NASDAQ:LRCX) to Hold

Lam Research (NASDAQ:LRCX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Other equities analysts have also issued reports about the company. UBS Group lowered their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Citigroup lowered their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. TD Cowen upped their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Cantor Fitzgerald lowered their target price on Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.28.

Lam Research Price Performance

Shares of LRCX opened at $82.89 on Friday. Lam Research has a 52-week low of $57.44 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The business’s 50 day moving average price is $94.96 and its two-hundred day moving average price is $96.22. The firm has a market cap of $10.84 billion, a PE ratio of 3.05, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 20.7% compared to the same quarter last year. On average, equities analysts anticipate that Lam Research will post 3.52 EPS for the current year.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Institutional investors and hedge funds have recently modified their holdings of the business. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Lam Research during the 2nd quarter valued at about $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Lam Research during the 2nd quarter worth approximately $40,000. Country Trust Bank bought a new position in Lam Research during the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lam Research in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.