Lam Research (LRCX) Upgraded to Strong-Buy at BidaskClub

Lam Research (NASDAQ:LRCX) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday, January 10th.

LRCX has been the subject of several other reports. Deutsche Bank boosted their price objective on shares of Lam Research to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. KeyCorp reiterated a “buy” rating and set a $225.00 price objective on shares of Lam Research in a research note on Sunday, November 19th. DA Davidson reissued a “buy” rating and set a $215.00 target price on shares of Lam Research in a research report on Thursday, October 12th. Royal Bank of Canada boosted their target price on shares of Lam Research from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 15th. Finally, B. Riley reissued a “buy” rating and set a $250.00 target price on shares of Lam Research in a research report on Tuesday, November 14th. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Lam Research has a consensus rating of “Buy” and an average target price of $220.65.

Lam Research (NASDAQ:LRCX) opened at $197.39 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83. The firm has a market cap of $31,970.00, a P/E ratio of 18.03, a PEG ratio of 0.86 and a beta of 1.57. Lam Research has a 52-week low of $108.46 and a 52-week high of $219.70.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the business posted $1.81 earnings per share. The company’s revenue was up 51.8% on a year-over-year basis. analysts forecast that Lam Research will post 14.74 EPS for the current year.

Lam Research declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

In other news, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction dated 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 is available at the SEC website. Also, insider Martin B. Anstice sold 21,955 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $211.16, for a total transaction of $4,636,017.80. 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 in the last quarter. 0.41% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Krilogy Financial LLC lifted its stake in Lam Research by 91.6% during the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 263 shares in the last quarter. Odey Holdings AG lifted its stake in Lam Research by 9.9% during the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 73 shares in the last quarter. Bollard Group LLC purchased a new stake in Lam Research during the third quarter valued at about $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Lam Research during the third quarter valued at about $134,000. Finally, Sun Life Financial INC lifted its stake in Lam Research by 10,672.7% during the second quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 1,174 shares in the last quarter. Institutional investors own 93.45% of the company’s stock.

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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.

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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