Lam Research Corporation (LRCX) was Downgraded by Nomura to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Nomura advised their investors in a research report released on Aug 11, 2016.
Many Wall Street Analysts have commented on Lam Research Corporation. Company shares were Reiterated by Stifel on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 102 from a previous price target of $93 .Company shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 105 from a previous price target of $95 .Company shares were Reiterated by Cowen on Jul 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 95 from a previous price target of $85 .
On the company’s financial health, Lam Research Corporation reported $1.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.64. The company had revenue of $1546.26 million for the quarter, compared to analysts expectations of $1530.74 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS.
Lam Research Corporation closed down -0.53 points or -0.57% at $92.72 with 15,65,363 shares getting traded on Monday. Post opening the session at $93.16, the shares hit an intraday low of $92.49 and an intraday high of $93.3 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Oct 27, 2015, Martin B Anstice (President and CEO) sold 7,948 shares at $73.90 per share price. According to the SEC, on Jul 28, 2015, Douglas R Bettinger (EVP, Chief Financial Officer) sold 10,043 shares at $82.29 per share price. On Apr 3, 2015, Sarah A O’dowd (SVP, Chief Legal Officer) sold 5,000 shares at $70.59 per share price, according to the Form-4 filing with the securities and exchange commission.
Lam Research Corporation (Lam Research) is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company’s products are used primarily in front-end wafer processing which involves the steps that create the active components of a device and their wiring. It also addresses processes for back-end wafer-level packaging (WLP). In addition its products are offered for related markets that rely on semiconductor processes and require production-proven manufacturing capability such as micro-electromechanical systems (MEMS). Its thin film deposition systems form a device’s sub-microscopic layers of conducting (metal) or insulating (dielectric) materials. It is a provider of plasma etch a process step that selectively removes materials from the wafer to create the features and patterns of a device. Its wet spin clean and plasma-based bevel clean products remove particles residues and film from the wafer surface before or after adjacent processes.