Traders Buy Lam Research (LRCX) on Weakness

Traders bought shares of Lam Research Co. (NASDAQ:LRCX) on weakness during trading hours on Wednesday. $120.29 million flowed into the stock on the tick-up and $85.33 million flowed out of the stock on the tick-down, for a money net flow of $34.96 million into the stock. Of all companies tracked, Lam Research had the 7th highest net in-flow for the day. Lam Research traded down ($0.38) for the day and closed at $151.69

A number of equities research analysts recently weighed in on the company. Citigroup decreased their price objective on Lam Research from $239.00 to $216.00 and set a “buy” rating for the company in a research note on Monday, July 30th. Stifel Nicolaus decreased their price objective on Lam Research from $295.00 to $279.00 and set a “buy” rating for the company in a research note on Friday, July 27th. BidaskClub upgraded Lam Research from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Susquehanna Bancshares restated a “neutral” rating and set a $165.00 price objective (down from $225.00) on shares of Lam Research in a research note on Tuesday, October 23rd. Finally, ValuEngine cut Lam Research from a “hold” rating to a “sell” rating in a research note on Saturday, August 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $224.22.

The stock has a market cap of $23.51 billion, a PE ratio of 8.49, a PEG ratio of 0.88 and a beta of 1.30. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.66 and a quick ratio of 2.00.

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

A number of large investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC increased its position in Lam Research by 82,514.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 11,566 shares of the semiconductor company’s stock valued at $1,754,000 after buying an additional 11,552 shares in the last quarter. MML Investors Services LLC increased its position in Lam Research by 13.2% during the 3rd quarter. MML Investors Services LLC now owns 6,530 shares of the semiconductor company’s stock valued at $991,000 after buying an additional 759 shares in the last quarter. Highstreet Asset Management Inc. acquired a new position in Lam Research during the 3rd quarter valued at about $568,000. Ffcm LLC increased its position in Lam Research by 27,337.0% during the 3rd quarter. Ffcm LLC now owns 7,408 shares of the semiconductor company’s stock valued at $190,000 after buying an additional 7,381 shares in the last quarter. Finally, Associated Banc Corp increased its position in Lam Research by 53.6% during the 3rd quarter. Associated Banc Corp now owns 110,037 shares of the semiconductor company’s stock valued at $16,693,000 after buying an additional 38,397 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors.

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Lam Research Company Profile (NASDAQ:LRCX)

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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