Lam Research (LRCX) Stock Rating Upgraded by UBS Group
Lam Research (NASDAQ:LRCX) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “positive” rating in a research report issued on Tuesday, The Fly reports.
Other analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Lam Research from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. Royal Bank of Canada raised their price target on shares of Lam Research from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 18th. Stifel Nicolaus raised their price target on shares of Lam Research from $215.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. DA Davidson restated a “buy” rating on shares of Lam Research in a report on Wednesday, October 18th. Finally, Vetr cut shares of Lam Research from a “buy” rating to a “hold” rating and set a $196.77 price target on the stock. in a report on Monday, October 16th. Three investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $213.83.
Lam Research (NASDAQ:LRCX) opened at $188.51 on Tuesday. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24. The company has a market cap of $30,530.00, a PE ratio of 17.22, a price-to-earnings-growth ratio of 0.86 and a beta of 1.57. Lam Research has a 12-month low of $108.46 and a 12-month high of $219.70.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business earned $1.81 EPS. The company’s revenue was up 51.8% compared to the same quarter last year. equities research analysts expect that Lam Research will post 14.74 earnings per share for the current fiscal year.
Lam Research announced that its board has approved a share repurchase program on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Lam Research news, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael R. Cannon sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $212.43, for a total transaction of $1,911,870.00. The disclosure for this sale can be found here. Insiders sold a total of 31,269 shares of company stock valued at $6,615,633 over the last quarter. 0.41% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of LRCX. Krilogy Financial LLC raised its position in Lam Research by 91.6% during the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after buying an additional 263 shares during the last quarter. Odey Holdings AG raised its position in Lam Research by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after buying an additional 73 shares during the last quarter. Bollard Group LLC purchased a new position in Lam Research during the 3rd quarter worth approximately $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Lam Research during the 3rd quarter worth approximately $134,000. Finally, Sun Life Financial INC raised its position in Lam Research by 10,672.7% during the 2nd quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’s stock worth $168,000 after buying an additional 1,174 shares during the last quarter. 93.45% of the stock is owned by institutional investors.
About Lam Research
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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