Lam Research (NASDAQ:LRCX) Stock Rating Lowered by StockNews.com

Lam Research (NASDAQ:LRCX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

LRCX has been the subject of a number of other reports. Barclays raised their price target on Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. B. Riley raised shares of Lam Research from a “neutral” rating to a “buy” rating and boosted their target price for the company from $870.00 to $1,100.00 in a research note on Friday, April 19th. Citigroup raised their price target on shares of Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Stifel Nicolaus boosted their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Stock Up 2.8 %

NASDAQ LRCX opened at $908.53 on Friday. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. Lam Research has a 52 week low of $507.19 and a 52 week high of $1,007.39. The firm has a market capitalization of $119.11 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.82 and a beta of 1.51. The company has a fifty day moving average of $941.31 and a two-hundred day moving average of $820.25.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company earned $6.99 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts predict that Lam Research will post 29.62 earnings per share for the current year.

Insider Transactions at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the sale, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Insiders have sold 7,089 shares of company stock worth $6,614,781 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Lam Research

Several institutional investors have recently bought and sold shares of LRCX. Noesis Capital Mangement Corp lifted its position in shares of Lam Research by 1.2% during the 1st quarter. Noesis Capital Mangement Corp now owns 1,792 shares of the semiconductor company’s stock valued at $1,741,000 after buying an additional 22 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Lam Research by 5,948.4% during the first quarter. Geneos Wealth Management Inc. now owns 3,750 shares of the semiconductor company’s stock worth $3,643,000 after acquiring an additional 3,688 shares during the period. WBI Investments LLC purchased a new position in Lam Research during the first quarter valued at $239,000. Team Hewins LLC grew its position in shares of Lam Research by 2.2% in the first quarter. Team Hewins LLC now owns 701 shares of the semiconductor company’s stock valued at $682,000 after purchasing an additional 15 shares during the period. Finally, Csenge Advisory Group increased its stake in shares of Lam Research by 7.4% during the first quarter. Csenge Advisory Group now owns 306 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 21 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

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.