Lam Research (LRCX) Rating Lowered to Neutral at B. Riley

Lam Research (NASDAQ:LRCX) was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating in a research report issued on Monday, Marketbeat reports. They currently have a $160.00 target price on the semiconductor company’s stock, down from their previous target price of $225.00. B. Riley’s price target suggests a potential upside of 14.88% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Susquehanna Bancshares restated a “neutral” rating and issued a $165.00 price target (down from $225.00) on shares of Lam Research in a research note on Tuesday, October 23rd. UBS Group downgraded shares of Lam Research from a “positive” rating to a “neutral” rating in a research note on Tuesday, October 23rd. Mizuho restated a “hold” rating and issued a $165.00 price target on shares of Lam Research in a research note on Wednesday, October 17th. Stifel Nicolaus set a $279.00 price target on shares of Lam Research and gave the company a “buy” rating in a research note on Tuesday, October 16th. Finally, KeyCorp decreased their price target on shares of Lam Research from $261.00 to $231.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $224.22.

LRCX stock opened at $139.27 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 2.66. Lam Research has a 52 week low of $133.42 and a 52 week high of $234.88. The stock has a market capitalization of $21.59 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of 0.81 and a beta of 1.33.



Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.22 by $0.14. Lam Research had a net margin of 21.26% and a return on equity of 49.80%. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company posted $3.46 earnings per share. Lam Research’s revenue was down 6.0% compared to the same quarter last year. On average, analysts predict that Lam Research will post 14.37 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Valeo Financial Advisors LLC bought a new position in shares of Lam Research in the second quarter worth about $402,000. Signet Financial Management LLC lifted its holdings in shares of Lam Research by 21,700.0% in the second 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. Morgan Stanley lifted its holdings in shares of Lam Research by 83.1% in the second quarter. Morgan Stanley now owns 1,530,120 shares of the semiconductor company’s stock worth $264,481,000 after acquiring an additional 694,440 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Lam Research by 7.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 21,894 shares of the semiconductor company’s stock worth $3,784,000 after acquiring an additional 1,528 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of Lam Research by 50.5% in the second quarter. Baird Financial Group Inc. now owns 6,880 shares of the semiconductor company’s stock worth $1,189,000 after acquiring an additional 2,308 shares during the last quarter. 91.85% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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