Lam Research (LRCX) Receives “Buy” Rating from DA Davidson

Lam Research (NASDAQ:LRCX)‘s stock had its “buy” rating restated by equities research analysts at DA Davidson in a research report issued on Monday. They presently have a $235.00 target price on the semiconductor company’s stock. DA Davidson’s price target indicates a potential upside of 13.24% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Deutsche Bank increased their price target on Lam Research to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. KeyCorp reiterated a “buy” rating and issued a $225.00 price target on shares of Lam Research in a research note on Sunday, November 19th. Royal Bank of Canada increased their price target on Lam Research from $210.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 15th. B. Riley reiterated a “buy” rating and issued a $250.00 price target on shares of Lam Research in a research note on Tuesday, November 14th. Finally, Nomura upgraded Lam Research from a “neutral” rating to a “buy” rating and increased their price target for the stock from $103.01 to $215.00 in a research note on Thursday, December 7th. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $222.39.

Shares of Lam Research (NASDAQ LRCX) traded up $2.08 during mid-day trading on Monday, reaching $207.53. The company’s stock had a trading volume of 2,614,900 shares, compared to its average volume of 3,150,385. Lam Research has a 1-year low of $111.34 and a 1-year high of $219.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83. The stock has a market cap of $33,870.00, a price-to-earnings ratio of 18.95, a PEG ratio of 0.95 and a beta of 1.57.

Lam Research declared that its Board of Directors has approved a share buyback plan on Tuesday, November 14th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

In other Lam Research news, Director Michael R. Cannon sold 9,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $212.43, for a total value of $1,911,870.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $216.08, for a total transaction of $57,045.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,269 shares of company stock valued at $6,615,633. 0.41% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in LRCX. Krilogy Financial LLC lifted its stake in Lam Research by 91.6% in the third 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. Odey Holdings AG lifted its stake in Lam Research by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 73 shares during the last quarter. Bollard Group LLC bought a new stake in Lam Research in the third quarter worth about $130,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Lam Research in the third quarter worth about $134,000. Finally, Sun Life Financial INC lifted its stake in Lam Research by 10,672.7% in the second quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’s stock worth $168,000 after purchasing an additional 1,174 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

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About Lam Research

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.

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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