The stock of Lam Research Corporation (NASDAQ:LRCX) hit a new 52-week high and has $123.00 target or 20.00% above today’s $102.50 share price. The 6 months bullish chart indicates low risk for the $17.37B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $123.00 price target is reached, the company will be worth $3.47 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 1.84M shares traded hands. Lam Research Corporation (NASDAQ:LRCX) has risen 24.01% since April 15, 2016 and is uptrending. It has outperformed by 19.38% 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 30 analyst reports since September 17, 2015 according to StockzIntelligence Inc. The rating was upgraded by CLSA to “Buy” on Friday, September 25. The firm has “Buy” rating by Citigroup given on Thursday, October 6. DA Davidson maintained the shares of LRCX in a report on Thursday, October 6 with “Buy” rating. The company was maintained on Thursday, October 22 by B. Riley & Co. The stock of Lam Research Corporation (NASDAQ:LRCX) earned “Outperform” rating by Cowen & Co on Thursday, December 10. B. Riley & Co maintained the stock with “Buy” rating in Thursday, October 20 report. The firm earned “Buy” rating on Friday, September 25 by Credit Agricole. The company was downgraded on Monday, October 5 by RBC Capital Markets. The firm has “Buy” rating by Stifel Nicolaus given on Thursday, October 20. The firm has “Buy” rating given on Thursday, April 21 by B. Riley & 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 worsened, 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.
Systematic Fin Mngmt Limited Partnership has 876,712 shares for 1.01% of their US portfolio. Toronto Dominion Commercial Bank owns 873 shares or 0% of their US portfolio. Moreover, Hall Laurie J Trustee has 0.02% invested in Lam Research Corporation (NASDAQ:LRCX) for 430 shares. Moreover, Jaffetilchin Invest Prns Ltd Company has 0.12% invested in Lam Research Corporation (NASDAQ:LRCX) for 4,854 shares. Investec Asset Mngmt Ltd has 2.38M shares for 0.99% of their US portfolio. State Street Corporation owns 6.39 million shares or 0.06% of their US portfolio. Moreover, Blackrock Japan Co Limited has 0.06% invested in Lam Research Corporation (NASDAQ:LRCX) for 197,198 shares. Legacy Private Trust holds 0.06% or 4,800 shares in its portfolio. Voya Inv Mngmt Limited Liability Com holds 1.93M shares or 0.4% of its portfolio. California State Teachers Retirement System holds 299,750 shares or 0.05% of its portfolio. Huntington Fincl Bank holds 0% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 1,347 shares. Gulf Interest State Bank (Uk) has 0.07% invested in the company for 47,112 shares. Washington Retail Bank holds 842 shares or 0.02% of its portfolio. The United Kingdom-based Cantab Cap Partners Llp has invested 0% in Lam Research Corporation (NASDAQ:LRCX). Valley Advisers Inc last reported 0% of its portfolio in the stock.
Insider Transactions: Since October 6, 2016, the stock had 0 insider purchases, and 1 sale for $4.70 million net activity. Shares for $4.70M were sold by Gottscho Richard A.
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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