Lam Research (LRCX) Downgraded by ValuEngine

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

Several other equities research analysts have also recently weighed in on the company. Argus reiterated a “buy” rating and issued a $203.77 price objective (down previously from $235.00) on shares of Lam Research in a report on Thursday. Credit Suisse Group increased their price objective on Lam Research from $275.00 to $278.00 and gave the stock an “outperform” rating in a report on Wednesday. B. Riley increased their price objective on Lam Research from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank increased their price objective on Lam Research to $260.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus increased their price objective on Lam Research from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Lam Research presently has an average rating of “Buy” and a consensus target price of $249.69.

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LRCX traded down $13.38 on Thursday, hitting $190.39. 8,762,112 shares of the company were exchanged, compared to its average volume of 3,812,165. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09. Lam Research has a 12 month low of $136.41 and a 12 month high of $234.88. The firm has a market cap of $34,599.70, a price-to-earnings ratio of 19.08, a PEG ratio of 0.72 and a beta of 1.41.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Tuesday, April 17th. The semiconductor company reported $4.79 earnings per share for the quarter, topping the consensus estimate of $4.38 by $0.41. Lam Research had a return on equity of 41.12% and a net margin of 18.32%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter last year, the business posted $3.10 EPS. The business’s revenue was up 34.3% on a year-over-year basis. sell-side analysts anticipate that Lam Research will post 16.76 EPS for the current year.

Lam Research declared that its board has approved a share buyback plan on Tuesday, March 6th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In other news, insider Timothy Archer sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $210.00, for a total value of $1,050,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Martin B. Anstice sold 11,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $225.00, for a total value of $2,520,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,393 shares of company stock valued at $20,272,556. 0.41% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. San Francisco Sentry Investment Group CA raised its stake in Lam Research by 12.9% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 2,626 shares of the semiconductor company’s stock valued at $484,000 after buying an additional 300 shares during the last quarter. BKD Wealth Advisors LLC raised its stake in Lam Research by 13.5% during the fourth quarter. BKD Wealth Advisors LLC now owns 2,803 shares of the semiconductor company’s stock valued at $516,000 after buying an additional 333 shares during the last quarter. Leavell Investment Management Inc. raised its stake in Lam Research by 3.9% during the fourth quarter. Leavell Investment Management Inc. now owns 9,350 shares of the semiconductor company’s stock valued at $1,721,000 after buying an additional 350 shares during the last quarter. ETRADE Capital Management LLC raised its stake in Lam Research by 6.1% during the fourth quarter. ETRADE Capital Management LLC now owns 6,555 shares of the semiconductor company’s stock valued at $1,207,000 after buying an additional 374 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Lam Research by 144.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 392 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

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Lam Research Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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