Exclusive: What’s Next for Lam Research Corporation After Achieving 52-Week High?

Exclusive: What's Next for Lam Research Corporation After Achieving 52 Week High?

The stock of Lam Research Corporation (NASDAQ:LRCX) hit a new 52-week high and has $111.88 target or 5.00% above today’s $106.55 share price. The 9 months bullish chart indicates low risk for the $17.50B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $111.88 price target is reached, the company will be worth $875.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 267,658 shares traded hands. Lam Research Corporation (NASDAQ:LRCX) has risen 28.51% since April 20, 2016 and is uptrending. It has outperformed by 23.96% the S&P500.

Lam Research Corporation (NASDAQ:LRCX) Ratings Coverage

Out of 15 analysts covering Lam Research Corporation (NASDAQ:LRCX), 10 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 67% are positive. Lam Research Corporation has been the topic of 31 analyst reports since September 17, 2015 according to StockzIntelligence Inc. As per Monday, November 21, the company rating was maintained by Stifel Nicolaus. The rating was downgraded by RBC Capital Markets to “Underperform” on Monday, October 5. B. Riley & Co maintained it with “Buy” rating and $98 target price in Thursday, October 22 report. Goldman Sachs reinitiated Lam Research Corporation (NASDAQ:LRCX) on Tuesday, October 25 with “Neutral” rating. The firm has “Buy” rating by Citigroup given on Friday, August 12. The firm has “Buy” rating by Needham given on Friday, October 9. The firm has “Outperform” rating by Cowen & Co given on Wednesday, October 21. The company was maintained on Thursday, October 22 by RBC Capital Markets. As per Thursday, October 6, the company rating was maintained by DA Davidson. The rating was downgraded by Pacific Crest on Wednesday, October 12 to “Sector Weight”.

According to Zacks Investment Research, “Lam Research Corporation designs, manufactures, markets and services semiconductor processing equipment used in the fabrication of integrated circuits. Lam is recognized as a leading supplier of front-end wafer processing equipment to the worldwide semiconductor industry. The Company’s products are used selectively to etch away portions of various films to create an integrated circuit.”

Insitutional Activity: The institutional sentiment decreased to 1.18 in 2016 Q2. Its down 0.03, from 1.21 in 2016Q1. The ratio dived, as 43 funds sold all Lam Research Corporation shares owned while 181 reduced positions. 67 funds bought stakes while 203 increased positions. They now own 181.29 million shares or 1.03% less from 183.18 million shares in 2016Q1.
Putnam Investments Lc holds 0.08% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 394,286 shares. Iberiabank Corporation accumulated 0.26% or 6,894 shares. Enterprise Ser Corporation, a Missouri-based fund reported 104 shares. Rs Management Limited Liability Corporation holds 260,335 shares or 0.22% of its portfolio. Norinchukin State Bank The holds 8,371 shares or 0.02% of its portfolio. Jpmorgan Chase And, a New York-based fund reported 18.60M shares. Goldman Sachs Inc has 2.27M shares for 0.06% of their US portfolio. Principal Finance owns 269,261 shares or 0.03% of their US portfolio. Orinda Asset Ltd Liability Corporation holds 1,625 shares or 0.15% of its portfolio. Sensato Lc has invested 1.48% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Moreover, Kbc Gp Nv has 0.08% invested in Lam Research Corporation (NASDAQ:LRCX) for 69,710 shares. Moreover, Frontier Mngmt Lc has 0.6% invested in Lam Research Corporation (NASDAQ:LRCX) for 862,882 shares. Federated Invsts Pa, a Pennsylvania-based fund reported 175,329 shares. Chevy Chase Trust Hldgs last reported 137,440 shares in the company. Neville Rodie & Shaw accumulated 0.55% or 54,877 shares.

Insider Transactions: Since October 6, 2016, the stock had 0 insider purchases, and 1 sale for $4.70 million net activity. Gottscho Richard A also sold $4.70M worth of Lam Research Corporation (NASDAQ:LRCX) shares.

Another recent and important Lam Research Corporation (NASDAQ:LRCX) news was published by Globenewswire.com which published an article titled: “Lam Research Corporation (Nasdaq: LRCX) to Ring The Nasdaq Stock Market …” on November 17, 2016.

LRCX Company Profile

Lam Research Corporation, incorporated on October 8, 1989, is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Firm designs, makes, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). The Firm operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment. The Company’s products are designed to enable its clients build a range of devices that are used in a range of electronic products, including cell phones, tablets, computers, storage devices and networking equipment. The Company’s customer base includes semiconductor memory, foundry and integrated device manufacturers (IDMs) that make products, such as dynamic random-access memory (DRAM), negative-AND (NAND) memory and logic devices. The Firm offers a portfolio of products that are used in several areas of the semiconductor manufacturing process flow, including thin film deposition, plasma etch and single-wafer clean. The Firm also offers a range of services, including customer service, spares, upgrades, and refurbishment of its deposition, etch and clean products. The Firm also provides refurbished legacy products.

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