Lam Research (LRCX) – Research Analysts’ Recent Ratings Updates

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Several brokerages have updated their recommendations and price targets on shares of Lam Research (NASDAQ: LRCX) in the last few weeks:

  • 9/6/2018 – Lam Research was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 8/31/2018 – Lam Research was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/28/2018 – Lam Research was downgraded by analysts at Bank of America Corp from a “buy” rating to a “neutral” rating. They now have a $285.00 price target on the stock.
  • 8/18/2018 – Lam Research was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 8/15/2018 – Lam Research was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/30/2018 – Lam Research had its price target lowered by analysts at Citigroup Inc from $239.00 to $216.00. They now have a “buy” rating on the stock.
  • 7/27/2018 – Lam Research had its price target lowered by analysts at Morgan Stanley from $219.00 to $208.00. They now have an “overweight” rating on the stock.
  • 7/27/2018 – Lam Research had its price target lowered by analysts at JPMorgan Chase & Co. from $275.00 to $250.00. They now have an “overweight” rating on the stock.
  • 7/27/2018 – Lam Research had its price target lowered by analysts at KeyCorp from $283.00 to $261.00. They now have an “overweight” rating on the stock.
  • 7/27/2018 – Lam Research had its price target lowered by analysts at Cowen Inc from $285.00 to $250.00. They now have an “outperform” rating on the stock.
  • 7/27/2018 – Lam Research had its price target lowered by analysts at Stifel Nicolaus from $295.00 to $279.00. They now have a “buy” rating on the stock.
  • 7/24/2018 – Lam Research was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Lam Research’s robust demand for equipment and memory segment, strength in logic & foundry along with increased adoption rates of 3D NAND technology bodes well for its top-line growth. Further, the company’s popular etch and deposition technologies are suitable for the ongoing vertical scaling, multi-patterning, advanced packaging and advanced transistor architectures. This will help it rebound going forward. Estimates have been stable lately ahead of the company’s Q4 earnings release. The company has positive record of earnings surprises in recent quarters. However, the company's top-line results continue to be impacted by weak PC demand. Also, oversupply and overcapacity of memory chips could impact Lam Research’s growth and sales figures as yields and output seem to be improving. Notably, the stock has underperformed the industry it belongs to over a year.”
  • 7/23/2018 – Lam Research had its “buy” rating reaffirmed by analysts at DA Davidson.
  • 7/19/2018 – Lam Research was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/17/2018 – Lam Research had its price target lowered by analysts at Evercore ISI to $240.00. They now have an “outperform” rating on the stock.
  • 7/13/2018 – Lam Research had its price target lowered by analysts at Citigroup Inc from $245.00 to $239.00. They now have a “buy” rating on the stock.
  • 7/9/2018 – Lam Research had its price target lowered by analysts at Susquehanna Bancshares Inc from $290.00 to $260.00. They now have a “positive” rating on the stock.

LRCX stock opened at $160.05 on Friday. Lam Research Co. has a 1-year low of $156.83 and a 1-year high of $234.88. The company has a market capitalization of $27.28 billion, a PE ratio of 8.96, a P/E/G ratio of 0.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.31 and a current ratio of 2.90.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $5.31 EPS for the quarter, topping the Zacks’ consensus estimate of $4.94 by $0.37. The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.08 billion. Lam Research had a return on equity of 47.14% and a net margin of 21.49%. Lam Research’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.11 EPS. analysts forecast that Lam Research Co. will post 15.51 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 26th. Investors of record on Wednesday, September 12th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, September 11th. This represents a $4.40 dividend on an annualized basis and a yield of 2.75%. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd bought a new stake in Lam Research during the 1st quarter worth approximately $116,000. NuWave Investment Management LLC bought a new stake in Lam Research during the 2nd quarter worth approximately $100,000. Psagot Investment House Ltd. grew its position in Lam Research by 200.0% during the 1st quarter. Psagot Investment House Ltd. now owns 600 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 400 shares during the last quarter. Clear Perspective Advisors LLC bought a new stake in Lam Research during the 2nd quarter worth approximately $108,000. Finally, Signet Financial Management LLC grew its position in Lam Research by 21,700.0% during the 2nd quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock worth $113,000 after acquiring an additional 651 shares during the last quarter. Institutional investors and hedge funds own 88.97% of the company’s stock.

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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