Lam Research (NASDAQ:LRCX)‘s stock had its “hold” rating reaffirmed by Mizuho in a research note issued on Wednesday. They currently have a $165.00 price target on the semiconductor company’s stock. Mizuho’s target price points to a potential upside of 12.11% from the stock’s previous close.
The analysts wrote, “We believe N-T soft DRAM pricing and NAND pricing soft into 2H19 could be a Capex headwind. As we show in Exhbit-1, we see DRAM/NAND Capex pushouts. For LRCX, memory capex was ~77% of revenue. China overall strong but domestic spending could be weaker. LRCX noted China was strong at ~25% of total revenue with relatively balanced contributions from Memory, Foundry and Logic. China is expected to be up y/ y into 2019E, though we believe domestic China memory spend could be down y/y with YMTC’s challenges.””
A number of other equities analysts have also recently commented on the stock. Goldman Sachs Group cut shares of Lam Research from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $224.00 to $180.00 in a research note on Wednesday, September 12th. BidaskClub cut shares of Lam Research from a “sell” rating to a “strong sell” rating in a research note on Friday, August 31st. ValuEngine cut shares of Lam Research from a “hold” rating to a “sell” rating in a research note on Saturday, August 18th. Bank of America cut shares of Lam Research from a “buy” rating to a “neutral” rating and set a $285.00 price objective for the company. in a research note on Tuesday, August 28th. Finally, DA Davidson reissued a “buy” rating on shares of Lam Research in a research note on Monday, July 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Lam Research presently has a consensus rating of “Buy” and an average price target of $231.25.
NASDAQ LRCX traded up $1.91 on Wednesday, reaching $147.18. The company had a trading volume of 8,784,644 shares, compared to its average volume of 3,385,837. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.31 and a current ratio of 2.90. The company has a market cap of $23.10 billion, a P/E ratio of 8.24, a P/E/G ratio of 0.59 and a beta of 1.33. Lam Research has a 12 month low of $135.99 and a 12 month high of $234.88.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.14. Lam Research had a net margin of 21.49% and a return on equity of 47.14%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the firm posted $3.46 EPS. Lam Research’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, analysts forecast that Lam Research will post 15.51 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Independent Advisor Alliance boosted its stake in shares of Lam Research by 21.0% during the 2nd quarter. Independent Advisor Alliance now owns 1,574 shares of the semiconductor company’s stock worth $244,000 after purchasing an additional 273 shares during the period. BerganKDV Wealth Management LLC boosted its stake in shares of Lam Research by 7.0% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 4,458 shares of the semiconductor company’s stock worth $770,000 after purchasing an additional 292 shares during the period. HGK Asset Management Inc. boosted its position in Lam Research by 8.9% in the 2nd quarter. HGK Asset Management Inc. now owns 3,686 shares of the semiconductor company’s stock valued at $637,000 after buying an additional 300 shares during the period. Bollard Group LLC boosted its position in Lam Research by 43.0% in the 2nd quarter. Bollard Group LLC now owns 1,005 shares of the semiconductor company’s stock valued at $174,000 after buying an additional 302 shares during the period. Finally, Stephens Inc. AR boosted its position in Lam Research by 5.6% in the 2nd quarter. Stephens Inc. AR now owns 5,669 shares of the semiconductor company’s stock valued at $980,000 after buying an additional 303 shares during the period. 89.21% of the stock is owned by hedge funds and other institutional investors.
Lam Research Company Profile
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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