BidaskClub Downgrades Lam Research (LRCX) to Sell

Lam Research (NASDAQ:LRCX) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other research analysts have also recently commented on LRCX. JPMorgan Chase & Co. reissued an “overweight” rating and set a $275.00 price target on shares of Lam Research in a research report on Wednesday, April 18th. KeyCorp restated an “overweight” rating and issued a $283.00 price objective (up previously from $276.00) on shares of Lam Research in a research note on Wednesday, April 18th. Stifel Nicolaus upped their price objective on Lam Research from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, April 18th. Deutsche Bank upped their price objective on Lam Research to $260.00 and gave the company a “buy” rating in a research note on Wednesday, April 18th. Finally, B. Riley upped their price objective on Lam Research from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, April 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $249.80.

Shares of NASDAQ LRCX opened at $168.38 on Wednesday. Lam Research has a 52 week low of $156.52 and a 52 week high of $234.88. The company has a quick ratio of 2.31, a current ratio of 2.90 and a debt-to-equity ratio of 0.28. The company has a market cap of $29.22 billion, a P/E ratio of 9.48, a P/E/G ratio of 0.69 and a beta of 1.42.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $5.31 EPS for the quarter, beating the consensus estimate of $4.94 by $0.37. Lam Research had a return on equity of 47.28% and a net margin of 21.49%. The firm had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the firm posted $3.11 earnings per share. The business’s quarterly revenue was up 33.3% compared to the same quarter last year. equities research analysts anticipate that Lam Research will post 15.51 EPS for the current year.

In other news, CEO Martin B. Anstice sold 25,122 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $203.83, for a total transaction of $5,120,617.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group increased its stake in shares of Lam Research by 136.2% during the second quarter. Schroder Investment Management Group now owns 185,812 shares of the semiconductor company’s stock worth $31,749,000 after purchasing an additional 107,151 shares during the period. Guinness Asset Management Ltd increased its stake in shares of Lam Research by 30.1% during the second quarter. Guinness Asset Management Ltd now owns 39,110 shares of the semiconductor company’s stock worth $6,760,000 after purchasing an additional 9,040 shares during the period. Morse Asset Management Inc increased its stake in shares of Lam Research by 8.0% during the second quarter. Morse Asset Management Inc now owns 13,905 shares of the semiconductor company’s stock worth $2,403,000 after purchasing an additional 1,030 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Lam Research by 160.5% during the second quarter. Qube Research & Technologies Ltd now owns 1,076 shares of the semiconductor company’s stock worth $186,000 after purchasing an additional 663 shares during the period. Finally, HRT Financial LLC increased its stake in shares of Lam Research by 178.2% during the second quarter. HRT Financial LLC now owns 10,221 shares of the semiconductor company’s stock worth $1,766,000 after purchasing an additional 6,547 shares during the period. Institutional investors own 87.63% of the company’s stock.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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