Lam Research (NASDAQ:LRCX) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.
Other equities analysts have also issued research reports about the company. DA Davidson restated a “buy” rating and issued a $235.00 price target on shares of Lam Research in a research note on Monday, January 22nd. B. Riley restated a “buy” rating and issued a $250.00 price target on shares of Lam Research in a research note on Monday, January 22nd. Vetr lowered Lam Research from a “strong-buy” rating to a “buy” rating and set a $218.49 price target for the company. in a research note on Wednesday, January 17th. Nomura upgraded Lam Research from a “neutral” rating to a “buy” rating and lifted their price target for the company from $103.01 to $215.00 in a research note on Thursday, December 7th. Finally, Instinet upgraded Lam Research from a “neutral” rating to a “buy” rating in a research note on Thursday, December 7th. Twenty-five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $239.28.
Lam Research (LRCX) opened at $228.65 on Tuesday. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. Lam Research has a 52 week low of $120.00 and a 52 week high of $230.00. The firm has a market capitalization of $37,260.00, a PE ratio of 78.04, a P/E/G ratio of 0.90 and a beta of 1.43.
Lam Research declared that its Board of Directors has authorized a stock buyback program on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, SVP Sarah A. O’dowd sold 1,835 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $212.64, for a total transaction of $390,194.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Richard A. Gottscho sold 16,866 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $210.02, for a total value of $3,542,197.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,619 shares of company stock worth $10,790,107. Insiders own 0.41% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Krilogy Financial LLC boosted its holdings in shares of 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 purchasing an additional 263 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Lam Research by 144.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 392 shares during the last quarter. Focused Wealth Management Inc acquired a new position in shares of Lam Research during the 4th quarter worth approximately $140,000. Fuller & Thaler Asset Management Inc. acquired a new position in Lam Research in the third quarter valued at approximately $185,000. Finally, Squar Milner Financial Services LLC acquired a new position in Lam Research in the fourth quarter valued at approximately $204,000. Institutional investors and hedge funds own 90.06% of the company’s stock.
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Lam Research Company Profile
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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