UBS Group Lowers Lam Research (LRCX) to Neutral

Lam Research (NASDAQ:LRCX) was downgraded by stock analysts at UBS Group from a “positive” rating to a “neutral” rating in a report released on Tuesday, The Fly reports.

Other analysts have also issued research reports about the stock. Citigroup decreased their target price on shares of Lam Research from $239.00 to $216.00 and set a “buy” rating on the stock in a report on Monday, July 30th. Stifel Nicolaus decreased their target price on shares of Lam Research from $295.00 to $279.00 and set a “buy” rating on the stock in a report on Friday, July 27th. BidaskClub raised shares of Lam Research from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. ValuEngine lowered shares of Lam Research from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Lam Research from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $230.89.

LRCX opened at $144.27 on Tuesday. The stock has a market capitalization of $22.11 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 0.84 and a beta of 1.33. 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 twelve month low of $135.99 and a twelve month high of $234.88.

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

Large investors have recently modified their holdings of the company. NuWave Investment Management LLC bought a new position in shares of Lam Research in the 2nd quarter worth $100,000. Clear Perspective Advisors LLC bought a new position in shares of Lam Research in the 2nd quarter worth $108,000. Signet Financial Management LLC increased its holdings in shares of Lam Research by 21,700.0% in the 2nd quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock worth $113,000 after buying an additional 651 shares during the last quarter. Ruggie Capital Group bought a new position in shares of Lam Research in the 2nd quarter worth $134,000. Finally, Bollard Group LLC increased its holdings in shares of Lam Research by 43.0% in the 2nd quarter. Bollard Group LLC now owns 1,005 shares of the semiconductor company’s stock worth $174,000 after buying an additional 302 shares during the last quarter. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

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 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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