Lam Research Corporation (LRCX) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Lam Research Corporation (NASDAQ:LRCX) from a strong-buy rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Lam Research Corp. is a leading global provider of innovative wafer fabrication equipment and services to the semiconductor industry. The company reported better-than-expected fiscal fourth quarter 2017 results with both earnings and revenues surpassing our estimates. The results were driven by strong success in the areas of device architecture, process flow and advanced packaging technology inflections. Year to date, the stock has outperformed the industry it belongs to. The company has been improving on WFE market share significantly since 2013 and expects to continue making gains, going forward. At the same time, the persistent decline in the PC market, which is still the most important consumer of DRAMs, the competitive climate and currency effects remain concerns.”
A number of other equities analysts have also commented on LRCX. B. Riley reissued a buy rating and issued a $220.00 price objective on shares of Lam Research Corporation in a research note on Thursday, July 27th. UBS AG reaffirmed a buy rating and set a $190.00 price target on shares of Lam Research Corporation in a research note on Tuesday, June 13th. Royal Bank Of Canada reaffirmed an outperform rating and set a $185.00 price target (up previously from $145.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. BidaskClub lowered Lam Research Corporation from a buy rating to a hold rating in a research note on Wednesday, August 2nd. Finally, Needham & Company LLC upped their price target on Lam Research Corporation from $175.00 to $200.00 and gave the company a buy rating in a research note on Thursday, July 27th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $177.68.
Lam Research Corporation (NASDAQ LRCX) traded up 1.77% on Tuesday, reaching $185.04. The company had a trading volume of 1,789,347 shares. The company has a market capitalization of $30.06 billion, a price-to-earnings ratio of 20.03 and a beta of 1.47. The company’s 50 day moving average price is $162.21 and its 200-day moving average price is $148.80. Lam Research Corporation has a 12 month low of $90.56 and a 12 month high of $185.23.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.09. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The business’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.80 earnings per share. On average, equities analysts predict that Lam Research Corporation will post $12.75 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 0.97%. Lam Research Corporation’s dividend payout ratio (DPR) is currently 19.57%.
In other Lam Research Corporation news, COO Timothy Archer sold 8,691 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total value of $1,492,766.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen G. Newberry sold 1,500 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $162.75, for a total value of $244,125.00. The disclosure for this sale can be found here. Insiders sold 36,476 shares of company stock valued at $6,221,357 over the last 90 days. Corporate insiders own 0.46% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Stephens Inc. AR increased its holdings in shares of Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 54 shares in the last quarter. Odey Holdings AG increased its holdings in shares of Lam Research Corporation by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 73 shares in the last quarter. BDO Wealth Advisors LLC bought a new stake in shares of Lam Research Corporation in the second quarter worth about $118,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Lam Research Corporation in the second quarter worth about $134,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in shares of Lam Research Corporation by 358.3% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 860 shares in the last quarter. Institutional investors own 93.96% of the company’s stock.
Lam Research Corporation Company Profile
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.
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