Lam Research (NASDAQ:LRCX) Downgraded by StockNews.com to “Hold”

Lam Research (NASDAQ:LRCX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

LRCX has been the subject of several other reports. Susquehanna cut their price objective on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Evercore ISI assumed coverage on shares of Lam Research in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Barclays lifted their price target on shares of Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $1,100.00 price objective on shares of Lam Research in a report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $950.85.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $908.53 on Friday. The company’s fifty day moving average price is $941.71 and its 200 day moving average price is $816.04. Lam Research has a 1 year low of $507.19 and a 1 year high of $1,007.39. The company has a market capitalization of $119.11 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 2.70 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82.

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

Insider Buying and Selling

In related news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, 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 sold a total of 7,089 shares of company stock worth $6,614,781 in the last three months. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Lam Research

Several institutional investors have recently made changes to their positions in the company. Orion Capital Management LLC bought a new position in Lam Research in the 3rd quarter worth approximately $25,000. BluePath Capital Management LLC bought a new stake in shares of Lam Research during the third quarter valued at approximately $28,000. DSM Capital Partners LLC acquired a new stake in Lam Research in the 4th quarter valued at $28,000. OFI Invest Asset Management acquired a new stake in Lam Research in the 3rd quarter valued at $30,000. Finally, Asset Dedication LLC boosted its stake in Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares in the last quarter. 84.61% of the stock is currently 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.