The stock of Lam Research Corporation (NASDAQ:LRCX) reached all time high today, Oct, 5 and still has $122.47 target or 27.00% above today’s $96.43 share price. This indicates more upside for the $15.59 billion company. This technical setup was reported by Barchart.com. If the $122.47 PT is reached, the company will be worth $4.21 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 612,733 shares traded hands. Lam Research Corporation (NASDAQ:LRCX) has risen 27.20% since March 2, 2016 and is uptrending. It has outperformed by 18.95% the S&P500.
Analysts await Lam Research Corporation (NASDAQ:LRCX) to report earnings on October, 19. They expect $1.80 EPS, down 1.10% or $0.02 from last year’s $1.82 per share. LRCX’s profit will be $291.07 million for 13.40 P/E if the $1.80 EPS becomes a reality. After $1.80 actual EPS reported by Lam Research Corporation for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
Lam Research Corporation (NASDAQ:LRCX) Ratings Coverage
Out of 11 analysts covering Lam Research Corporation (NASDAQ:LRCX), 8 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 73% are positive. Lam Research Corporation has been the topic of 23 analyst reports since September 17, 2015 according to StockzIntelligence Inc. As per Friday, September 25, the company rating was upgraded by CLSA. Cowen & Co maintained Lam Research Corporation (NASDAQ:LRCX) on Thursday, December 10 with “Outperform” rating. The firm has “Overweight” rating by Morgan Stanley given on Tuesday, December 15. The firm earned “Neutral” rating on Monday, September 21 by Susquehanna. RBC Capital Markets downgraded the stock to “Underperform” rating in Monday, October 5 report. The company was maintained on Wednesday, October 21 by Cowen & Co. Nomura downgraded the shares of LRCX in a report on Thursday, August 11 to “Neutral” rating. The company was maintained on Friday, October 9 by Needham. The firm earned “Outperform” rating on Monday, May 16 by Cowen & Co. On Thursday, October 22 the stock rating was maintained by RBC Capital Markets with “Underperform”.
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 1.21 in 2016 Q2. Its down 0.06, from 1.27 in 2016Q1. The ratio dropped, 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.
Renaissance Techs Limited Liability Com holds 0.15% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 926,456 shares. Comerica Bank & Trust has 0.05% invested in the company for 65,730 shares. Maverick Capital Limited has invested 6.24% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Bp Plc holds 0.07% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 20,000 shares. Kj Harrison And Inc last reported 0.18% of its portfolio in the stock. Cibc World Mkts Corp holds 10,752 shares or 0.02% of its portfolio. Moreover, Polar Capital Ltd Liability Partnership has 0.31% invested in Lam Research Corporation (NASDAQ:LRCX) for 198,295 shares. The Maryland-based Brown Advisory has invested 0% in Lam Research Corporation (NASDAQ:LRCX). Fortaleza Asset Incorporated holds 1.36% or 19,745 shares in its portfolio. Sensato Ltd Llc, a California-based fund reported 108,851 shares. The Wisconsin-based Johnson Financial has invested 0.03% in Lam Research Corporation (NASDAQ:LRCX). Smithfield Trust Company last reported 0.05% of its portfolio in the stock. Price T Rowe Assocs Inc Md last reported 0.02% of its portfolio in the stock. The Alabama-based Associated Banc has invested 0.56% in Lam Research Corporation (NASDAQ:LRCX). Bridgeway Mngmt owns 399,556 shares or 0.52% of their US portfolio.
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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