Equities research analysts at Nomura initiated coverage on shares of Lam Research (NASDAQ:LRCX) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $216.00 price target on the semiconductor company’s stock. Nomura’s target price would suggest a potential downside of 8.81% from the stock’s current price.
LRCX has been the subject of several other reports. DA Davidson lowered Lam Research from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $225.00 to $200.00 in a research report on Monday, July 8th. Wells Fargo & Co increased their price objective on Lam Research from $195.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. ValuEngine lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Evercore ISI upgraded Lam Research from an “in-line” rating to an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Cfra set a $210.00 price target on Lam Research and gave the stock a “hold” rating in a research report on Saturday, August 31st. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $223.59.
Shares of Lam Research stock opened at $236.86 on Wednesday. The firm has a market capitalization of $34.23 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.44 and a beta of 1.62. Lam Research has a fifty-two week low of $122.64 and a fifty-two week high of $238.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.96 and a current ratio of 3.61. The stock has a 50 day moving average of $212.03 and a 200 day moving average of $194.29.
In related news, SVP Sarah A. O’dowd sold 22,140 shares of Lam Research stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $233.77, for a total value of $5,175,667.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Seshasayee Varadarajan sold 20,000 shares of Lam Research stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $200.00, for a total value of $4,000,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,997 shares of company stock valued at $14,854,855. Company insiders own 0.44% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Lam Research by 2.2% in the second quarter. BlackRock Inc. now owns 11,392,897 shares of the semiconductor company’s stock valued at $2,140,039,000 after purchasing an additional 248,314 shares during the period. FMR LLC boosted its holdings in Lam Research by 13.7% in the first quarter. FMR LLC now owns 7,565,824 shares of the semiconductor company’s stock valued at $1,354,358,000 after purchasing an additional 913,293 shares during the period. Janus Henderson Group PLC boosted its holdings in Lam Research by 2.1% in the second quarter. Janus Henderson Group PLC now owns 5,432,134 shares of the semiconductor company’s stock valued at $1,020,373,000 after purchasing an additional 112,508 shares during the period. Geode Capital Management LLC boosted its holdings in Lam Research by 18.6% in the fourth quarter. Geode Capital Management LLC now owns 2,519,701 shares of the semiconductor company’s stock valued at $342,720,000 after purchasing an additional 395,218 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in Lam Research by 655.7% in the second quarter. Nuveen Asset Management LLC now owns 2,502,249 shares of the semiconductor company’s stock valued at $470,022,000 after purchasing an additional 2,171,131 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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