Lam Research (NASDAQ:LRCX) Rating Lowered to Peer Perform at Wolfe Research

Lam Research (NASDAQ:LRCX) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research note issued on Wednesday,Finviz reports.

A number of other equities research analysts have also issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. The Goldman Sachs Group decreased their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Sanford C. Bernstein cut their price target on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Finally, Mizuho decreased their price objective on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.59.

Lam Research Stock Up 0.8 %

NASDAQ:LRCX opened at $75.06 on Wednesday. Lam Research has a 52 week low of $68.87 and a 52 week high of $113.00. The stock’s fifty day moving average is $74.70 and its two-hundred day moving average is $81.22. The stock has a market capitalization of $96.58 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period last year, the business posted $6.85 EPS. Research analysts anticipate that Lam Research will post 3.5 EPS for the current year.

Institutional Investors Weigh In On Lam Research

Several hedge funds have recently made changes to their positions in LRCX. Van ECK Associates Corp raised its position in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the last quarter. State Street Corp lifted its position in shares of Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after acquiring an additional 94,086 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lam Research by 2.1% during the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after acquiring an additional 64,053 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Lam Research during the 4th quarter worth about $175,652,000. Finally, Fisher Asset Management LLC raised its stake in Lam Research by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock valued at $1,527,273,000 after purchasing an additional 11,093 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.