Sunday, 19 November, 2017

Lam Research tops Street 3Q forecasts

A researcher plants a semiconductor on an interface board during a research work to design and develop a semiconductor product at Tsinghua Unigroup research centre in Beijing Who gained the most today? Lam Research Corporation : LRCX
Nellie Chapman | 20 April, 2017, 07:06

Wall Street analysts forecast that Lam Research Co. Five analysts surveyed by Zacks expected $2.13 billion. The stock stands almost -2.07% off versus the 52-week high and 79.67% away from the 52-week low. Eighteen analysts recommend buying Lam Research, while none recommend selling and two have "hold" ratings, according to Thomson Reuters data.

"The company continues to perform extremely well, again setting new records of financial performance with underlying business levels nearly 70% higher than the year ago equivalent quarter". The semiconductor company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.25.

In the profitability analysis, net profit margin of the firm was recorded at 15.70% and operating profit margin was calculated at 19.10% while gross profit margin was measured as 44.40%. Finally, Zacks Investment Research upgraded Lam Research Corporation from a "hold" rating to a "buy" rating and set a $122.00 price target on the stock in a research report on Tuesday, January 10th. The insider Anstice Martin B sold 16,000 shares worth $1.88M.

"The company continues to perform extremely well, again setting new records of financial performance with underlying business levels nearly 70% higher than the year ago equivalent quarter". Needham & Company LLC restated a buy rating and issued a $145.00 price objective (up previously from $135.00) on shares of Lam Research in a report on Thursday, January 26th. The average analysts gave this company a mean recommendation of 1.90.

The Company has 162.84 million shares outstanding and 162.39 million shares were floated in market.

04/19/2017 - Lam Research Corporation had its "buy" rating reiterated by analysts at Stifel Nicolaus. The company now has a consensus rating of "Buy" and an average price target of $127.56.

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Pennsylvania Trust Co purchased a new position in shares of Lam Research Co.

Plante Moran Ltd holds 0.02% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 299 shares. 5,801,049 shares of the stock traded hands. The firm has a 50 day moving average of $112.82 and a 200-day moving average of $101.32. The firm has a market cap of $20.38 billion, a price-to-earnings ratio of 22.44 and a beta of 1.44.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 29th.

On 2/9/2017 Lam Research announced a quarterly dividend of $0.45 1.55% with an ex dividend date of 3/6/2017 which will be payable on 3/29/2017. Lam Research's dividend payout ratio is presently 32.37%.

In other news, insider Richard A. Gottscho sold 80,009 shares of the company's stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $109.36, for a total value of $2,241,880.00.

On 2/27/2017 Douglas R. Bettinger, CFO, sold 17,322 with an average share price of $118.27 per share and the total transaction amounting to $2,048,672.94. The disclosure for this sale can be found here. On an adjusted basis, the company has earned $507.75 million, or $2.80 a share for the quarter. Mn Services Vermogensbeheer B.V. increased its position in Lam Research by 1.9% in the third quarter. Janus Capital Management LLC now owns 3,175,155 shares of the semiconductor company's stock worth $335,710,000 after buying an additional 621,245 shares during the last quarter. Specifically, 7.5% of ISRG's float is sold short, which would take nearly two weeks to cover, at the stock's average daily trading pace. Capstone Asset Management Co. boosted its stake in Lam Research by 3.5% in the third quarter.

A number of large investors have recently bought and sold shares of the company.

Lam Research Corporation (NASDAQ:LRCX) has risen 39.65% since September 9, 2016 and is uptrending. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs).

Growing demand for semiconductors for smartphones, cars and home devices has been fueling capital investment in new manufacturing technology, propelling a rally over the past year in semiconductor equipment stocks.