The stock of Lam Research Corporation (NASDAQ:LRCX) is a huge mover today! About 5.26 million shares traded hands or 151.67% up from the average. Lam Research Corporation (NASDAQ:LRCX) has risen 28.45% since March 3, 2016 and is uptrending. It has outperformed by 20.11% the S&P500.
The move comes after 7 months positive chart setup for the $16.13B company. It was reported on Oct, 6 by Barchart.com. We have $134.12 PT which if reached, will make NASDAQ:LRCX worth $5.81B more.
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 $294.40M for 13.70 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. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Outperform” rating by Cowen & Co on Wednesday, October 21. The firm has “Buy” rating by Credit Agricole given on Friday, September 25. The stock of Lam Research Corporation (NASDAQ:LRCX) has “Buy” rating given on Friday, October 9 by Needham. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Buy” rating by B. Riley & Co on Thursday, April 21. The firm earned “Underperform” rating on Monday, October 5 by RBC Capital Markets. As per Thursday, August 11, the company rating was downgraded by Nomura. The rating was maintained by Citigroup with “Buy” on Friday, August 12. The firm earned “Underperform” rating on Thursday, October 22 by RBC Capital Markets. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Outperform” rating by Cowen & Co on Monday, May 16. The company was maintained on Thursday, December 10 by Cowen & Co.
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 Q2 2016. 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.
Us Bank De last reported 0.02% of its portfolio in the stock. Sumitomo Mitsui Asset Mngmt Ltd holds 0.08% or 32,028 shares in its portfolio. Washington Trust Commercial Bank has invested 0.02% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Pictet Asset Limited last reported 83,339 shares in the company. Fred Alger Mngmt has invested 0.01% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Secor L P has 0.06% invested in the company for 6,135 shares. Private Company Na owns 3,353 shares or 0.07% of their US portfolio. Cullen Frost Bankers, a Texas-based fund reported 149,689 shares. Tudor Corp Et Al has 0.03% invested in the company for 17,059 shares. The Iowa-based At Bancorp has invested 0.89% in Lam Research Corporation (NASDAQ:LRCX). Dimensional Fund Advisors L P accumulated 0.08% or 1.67 million shares. Quentec Asset holds 1.91% or 182,500 shares in its portfolio. Signaturefd Ltd Liability Com holds 0.01% or 558 shares in its portfolio. Alkeon Capital Limited Liability Company accumulated 1.28 million shares or 2.08% of the stock. Plante Moran Fincl Advsrs Lc holds 0.02% or 330 shares in its portfolio.
More news for Lam Research Corporation (NASDAQ:LRCX) were recently published by: Benzinga.com, which released: “Why Investors May Be Disappointed That KLA-Tencor And Lam Research Are Calling …” on October 06, 2016. Benzinga.com‘s article titled: “8 Stocks To Watch For October 6, 2016” and published on October 06, 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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