Lam Research (LRCX) Shares Gap Down to $184.49

Lam Research Co. (NASDAQ:LRCX)’s share price gapped down prior to trading on Friday . The stock had previously closed at $188.41, but opened at $184.49. Lam Research shares last traded at $178.10, with a volume of 2961519 shares traded.

A number of equities research analysts recently commented on the company. DA Davidson restated a “buy” rating on shares of Lam Research in a research report on Monday, July 23rd. UBS Group upgraded Lam Research from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research report on Tuesday, June 26th. Bank of America decreased their price target on Lam Research from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, June 11th. Deutsche Bank increased their price target on Lam Research to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, April 18th. Finally, KeyCorp restated an “overweight” rating and set a $283.00 price target (up from $276.00) on shares of Lam Research in a research report on Wednesday, April 18th. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $249.80.

The stock has a market cap of $30.26 billion, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.90 and a quick ratio of 2.31.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Thursday, July 26th. The semiconductor company reported $5.31 EPS for the quarter, beating the Zacks’ consensus estimate of $4.94 by $0.37. The firm 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 47.28% and a net margin of 21.49%. The business’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period last year, the company earned $3.11 EPS. equities analysts expect that Lam Research Co. will post 15.51 EPS for the current year.

In other Lam Research news, CEO Martin B. Anstice sold 25,122 shares of the stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $203.83, for a total value of $5,120,617.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in LRCX. BlackRock Inc. boosted its position in shares of Lam Research by 0.9% in the 2nd quarter. BlackRock Inc. now owns 11,252,078 shares of the semiconductor company’s stock worth $1,944,921,000 after purchasing an additional 102,790 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Lam Research by 4.4% in the 2nd quarter. Janus Henderson Group PLC now owns 5,503,855 shares of the semiconductor company’s stock worth $951,341,000 after purchasing an additional 231,609 shares during the last quarter. LSV Asset Management boosted its position in shares of Lam Research by 7.9% in the 2nd quarter. LSV Asset Management now owns 2,641,374 shares of the semiconductor company’s stock worth $456,561,000 after purchasing an additional 193,629 shares during the last quarter. FMR LLC boosted its position in shares of Lam Research by 92.5% in the 2nd quarter. FMR LLC now owns 2,329,989 shares of the semiconductor company’s stock worth $402,737,000 after purchasing an additional 1,119,488 shares during the last quarter. Finally, PointState Capital LP bought a new position in shares of Lam Research in the 1st quarter worth $377,895,000. Hedge funds and other institutional investors own 87.69% 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 thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.

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