Lam Research (NASDAQ:LRCX) Lowered to Peer Perform Rating by Wolfe Research

Lam Research (NASDAQ:LRCX) was downgraded by investment analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Wednesday,Finviz reports.

Several other research firms have also weighed in on LRCX. Wells Fargo & Company reduced their target price on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. B. Riley dropped their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Mizuho decreased their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.59.

Lam Research Price Performance

Lam Research stock opened at $75.06 on Wednesday. Lam Research has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The firm has a 50 day moving average price of $74.70 and a 200 day moving average price of $81.22. The company has a market cap of $96.58 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the business posted $6.85 EPS. Sell-side analysts predict that Lam Research will post 3.5 earnings per share for the current year.

Institutional Trading of Lam Research

Institutional investors and hedge funds have recently made changes to their positions in the stock. West Oak Capital LLC grew its stake in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Laurel Wealth Advisors LLC bought a new position in shares of Lam Research during the fourth quarter worth about $37,000. Eagle Bay Advisors LLC increased its holdings in shares of Lam Research by 484.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 460 shares during the period. Fortitude Family Office LLC increased its stake in shares of Lam Research by 896.7% in the fourth quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 538 shares during the period. Finally, Rosenberg Matthew Hamilton grew its holdings in Lam Research by 900.0% in the 4th quarter. Rosenberg Matthew Hamilton now owns 620 shares of the semiconductor company’s stock worth $45,000 after buying an additional 558 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

About Lam Research

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.