Needham took its Lam Research [LRCX] rating to the equivalent of Hold from Buy, in a research note dated 2021-01-08. Other analysts also revised their coverage, with UBS’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in late October. Meanwhile, Stifel had maintained its rating on LRCX to the earlier “Buy” rating, in a research note produced for clients October 22, 2020. In addition, there was no change from RBC Capital Mkts on October 22, 2020. The rater maintained LRCX to “an Outperform” but assigned new target price of $420.
Is Lam Research Corporation [NASDAQ:LRCX] a Good Buy Right Now?
It should be noted that LRCX technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the past month. Data from Lam Research Corporation’s Trend Spotter indicated that the signals were Strongest. The stock current average is 1.32 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.37 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.57 million shares.
LRCX Price Performance
On Wall Street, Lam Research Corporation [NASDAQ:LRCX] finished Thursday’s session up 3.62% at $514.46. The stock went up to $517.72 at the same session while its lowest single day price was $506.65. In the last five days, it saw a rise of about 6.19%, Lam Research Corporation shares gained by almost 8.93% since the beginning of the year. However, the share price has dropped to as low as -0.42% below its one year high. On 01/07/21, the company shares recorded $517.72, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $473.32. The company’s shares have inclined by 71.50% in the past year. The 50-day SMA achieved is $449.64 while the 200-day SMA is $346.84. Volume dropped to 1.3 million from 1.33 million in the previous session.
Lam Research Corporation [LRCX] Valuation Measures
Notably, Lam Research Corporation [LRCX] stock can be classified as a good candidate in the listing of underestimated low-priced Semiconductor Equipment & Materials companies to purchase soonest possible with the prevailing 12-month PE ratio of 29.19. The measure means the stock is exchanging at a discount as compared to the 33.05x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 6.87 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.65 which means LRCX serve an attractive investment opportunity compared to its competitors.
LRCX Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 508.17 level, and in case of violation of this particular level, it will cause more drop to 501.87 level. On the upper level, 524.01 is still the key resistance. The stock may increase to the subsequent resistance at 519.24. The Relative Strength Index (RSI) pinned on the 14-day chart is 68.53, implying a neutral technical stance while the MACD stands at 18.37, meaning price will increase in the next trading period. Percent R indicator moved to 6.24%, implying bullish price movement. Stochastic %K at 82.59% suggest selling the stock.
What is the short interest in Lam Research Corporation?
Short interest in the Lam Research Corporation stock has surged, increasing by 0.41 million shares to total 3.34 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 3.75 million, data from Yahoo Finance shows. The decrease of -12.28% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 2.33% of the overall float for the stock.
Lam Research Corporation’s Biggest Shareholders: Who Owns Lam Research Corporation [LRCX]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 11,215,611 shares or roughly 7.79% of the outstanding LRCX shares. This means their shares have reduced by -157,406 from the 11,215,611 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, BlackRock Fund Advisors updated stake is worth $3,442,840,070. Details in the latest 13F filings reveal that Fidelity Management & Research Co acquired their 15.91% stake valued at $3,311,756,977 while SSgA Funds Management, Inc. cut theirs at $2,853,630,654. During the last quarter, Fidelity Management & Research Co raised 1,004,330 of its shares in Lam Research Corporation while SSgA Funds Management, Inc. sold -83,304 shares. The Columbia Management Investment Ad’s holdings currently number 5,014,136 shares at $2579572406.56. According to the firm’s last 13F report, Janus Capital Management LLC shares in the company at filing stood at 4,949,656 shares, roughly $2,240,511,285.
LRCX Earnings Forecast For The Current Quarter
Lam Research Corporation [LRCX] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $3.33B and an earnings per share of $5.69 for Dec 2020. Looking further ahead, the company is expected to report revenue of $3.26B at an EPS of $5.52 for Mar 2021. The estimates represent upside of 6.60% and 11.71% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
LRCX Earnings Estimates For The Current Year
For the financial year, Lam Research Corporation [NASDAQ:LRCX] is expected to bring in revenue of $13.04B. The returns are nearly $3.0 billion higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 22.67, higher than that of FY20 by $6.72. Estimates put this year’s earnings growth at 42.10%, 11.00% for the next, and at an annual 19.37% over the next 5-year period. As for sales, forecasts are for an increase of 29.90% in the current fiscal year and a further 6.60% over the following year.