Lam Research Corporation (LRCX) is Downgraded by Pacific Crest to Sector Weight

Lam Research Corporation (LRCX) was Downgraded by Pacific Crest to ” Sector Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Pacific Crest advised their investors in a research report released on Oct 12, 2016.

Many Wall Street Analysts have commented on Lam Research Corporation. Lam Research Corporation was Downgraded by Nomura to ” Neutral” on Aug 11, 2016. 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 .

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 -2.56 points or -2.51% at $99.59 with 49,12,581 shares getting traded on Tuesday. Post opening the session at $101.61, the shares hit an intraday low of $98.64 and an intraday high of $101.64 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Oct 11, 2016, Richard A Gottscho (Executive Vice President) sold 47,540 shares at $98.85 per share price. According to the SEC, on Oct 27, 2015, Martin B Anstice (President and CEO) sold 7,948 shares at $73.90 per share price. On Jul 28, 2015, Douglas R Bettinger (EVP, Chief Financial Officer) sold 10,043 shares at $82.29 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.

Lam Research Corporation

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