The stock of Lam Research Corporation (NASDAQ:LRCX) hit a new 52-week high and has $113.56 target or 6.00% above today’s $107.13 share price. The 6 months bullish chart indicates low risk for the $17.54B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $113.56 price target is reached, the company will be worth $1.05 billion 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 1.11 million shares traded hands. Lam Research Corporation (NASDAQ:LRCX) has risen 34.06% since April 25, 2016 and is uptrending. It has outperformed by 28.04% the S&P500.
Analysts await Lam Research Corporation (NASDAQ:LRCX) to report earnings on January, 25. They expect $2.20 EPS, up 40.13% or $0.63 from last year’s $1.57 per share. LRCX’s profit will be $360.20 million for 12.17 P/E if the $2.20 EPS becomes a reality. After $1.81 actual EPS reported by Lam Research Corporation for the previous quarter, Wall Street now forecasts 21.55% EPS growth.
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. The rating was maintained by B. Riley & Co on Thursday, October 20 with “Buy”. On Friday, September 25 the stock rating was upgraded by CLSA to “Buy”. Citigroup maintained it with “Buy” rating and $108 target price in Thursday, October 6 report. As per Thursday, October 6, the company rating was maintained by DA Davidson. The firm has “Underperform” rating by RBC Capital Markets given on Monday, October 5. The firm earned “Buy” rating on Friday, August 12 by Citigroup. The rating was initiated by Morgan Stanley on Tuesday, December 15 with “Overweight”. The stock has “Buy” rating given by Stifel Nicolaus on Monday, November 21. Cowen & Co maintained it with “Outperform” rating and $90 target price in Thursday, December 10 report. 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.
Commonwealth Equity Ser holds 8,258 shares or 0.01% of its portfolio. Tarbox Gp has 0.01% invested in the company for 160 shares. Sei Invs Company holds 36,617 shares or 0.02% of its portfolio. Polar Limited Liability Partnership holds 0.31% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 198,295 shares. Bowling Port Mngmt Limited Liability Corporation, a Ohio-based fund reported 71,735 shares. First Interstate Bank & Trust holds 263 shares or 0% of its portfolio. Prudential Financial Inc accumulated 227,620 shares or 0.03% of the stock. Advisor Ptnrs Ltd Company last reported 0.08% of its portfolio in the stock. The California-based Kcm Investment Advisors has invested 0.02% in Lam Research Corporation (NASDAQ:LRCX). Systematic Financial Mngmt Ltd Partnership holds 876,712 shares or 1.01% of its portfolio. Caisse De Depot Et Placement Du Quebec owns 59,007 shares or 0.01% of their US portfolio. State Of Wisconsin Invest Board holds 0.04% or 125,744 shares in its portfolio. Washington Cap Mngmt accumulated 0.55% or 4,587 shares. Aviva Public Ltd Com, a United Kingdom-based fund reported 95,736 shares. Marshall Wace Llp holds 0.08% or 110,196 shares in its portfolio.
Insider Transactions: Since October 6, 2016, the stock had 0 buys, and 1 insider sale for $4.70 million net activity. Shares for $4.70 million were sold by Gottscho Richard A on Thursday, October 6.
More news for Lam Research Corporation (NASDAQ:LRCX) were recently published by: Finance.Yahoo.com, which released: “Lam Research Corporation (Nasdaq: LRCX) to Ring The Nasdaq Stock Market …” on November 17, 2016. Globenewswire.com‘s article titled: “Lam Research Corporation Announces $1.3 Billion Capital Return Program” and published on November 18, 2016 is yet another important article.
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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