Stock of the Day: Is Lam Research Corporation a Buy? The Stock Reaches All-Time High Today

Stock of the Day: Is Lam Research Corporation a Buy? The Stock Reaches All Time High Today

The stock of Lam Research Corporation (NASDAQ:LRCX) reached all time high today, Nov, 25 and still has $110.65 target or 3.00% above today’s $107.43 share price. This indicates more upside for the $17.53B company. This technical setup was reported by If the $110.65 PT is reached, the company will be worth $525.90 million 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 143,015 shares traded hands. Lam Research Corporation (NASDAQ:LRCX) has risen 32.61% since April 22, 2016 and is uptrending. It has outperformed by 27.20% 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 $358.99 million for 12.21 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 firm has “Buy” rating by Credit Agricole given on Friday, September 25. The company was maintained on Thursday, October 20 by Needham. Nomura downgraded the shares of LRCX in a report on Thursday, August 11 to “Neutral” rating. RBC Capital Markets downgraded it to “Underperform” rating and $52 target price in Monday, October 5 report. The firm has “Outperform” rating given on Wednesday, October 21 by Cowen & Co. The rating was maintained by Citigroup with “Buy” on Thursday, October 6. The stock of Lam Research Corporation (NASDAQ:LRCX) has “Buy” rating given on Friday, September 25 by CLSA. The rating was maintained by Cowen & Co on Monday, May 16 with “Outperform”. The firm has “Buy” rating by B. Riley & Co given on Thursday, April 21. Stifel Nicolaus maintained it with “Buy” rating and $116 target price in Monday, November 21 report.

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 turned negative, 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.
Moreover, Ameritas Investment Partners has 0.03% invested in Lam Research Corporation (NASDAQ:LRCX) for 5,972 shares. Hightower Ltd Liability Corporation holds 0.1% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 96,208 shares. Td Asset Mgmt holds 0.02% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 113,255 shares. Ubs Asset Americas Incorporated last reported 981,186 shares in the company. Leavell Mgmt last reported 8,500 shares in the company. Delta Lloyd Nv has invested 0.05% of its portfolio in Lam Research Corporation (NASDAQ:LRCX). Gargoyle Advisor Ltd Co owns 33,500 shares or 1.05% of their US portfolio. Greystone Managed Invs, a Saskatchewan – Canada-based fund reported 112,512 shares. The Colorado-based Tributary Cap Management Limited Liability Co has invested 0.3% in Lam Research Corporation (NASDAQ:LRCX). Cim Mangement, a Pennsylvania-based fund reported 9,443 shares. Meiji Yasuda Life holds 0.28% of its portfolio in Lam Research Corporation (NASDAQ:LRCX) for 20,855 shares. Assetmark accumulated 7,598 shares or 0.01% of the stock. Moreover, State Board Of Administration Of Florida Retirement has 0.06% invested in Lam Research Corporation (NASDAQ:LRCX) for 220,187 shares. Stephens Invest Grp Ltd Liability Com holds 10,073 shares or 0.03% of its portfolio. The Connecticut-based Conning has invested 0.01% in Lam Research Corporation (NASDAQ:LRCX).

Insider Transactions: Since October 6, 2016, the stock had 0 insider buys, and 1 sale for $4.70 million net activity. 47,540 shares were sold by Gottscho Richard A, worth $4.70M on Thursday, October 6.

Another recent and important Lam Research Corporation (NASDAQ:LRCX) news was published by which published an article titled: “Lam Research Corporation (Nasdaq: LRCX) to Ring The Nasdaq Stock Market …” on November 17, 2016.

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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