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Traders Buy Lam Research (LRCX) on Weakness

07 December 2017

Analysts believe change in technology might put Lam Research Corporation at a drawback, but in terms of 16.48 PE firm is above sector. It has outperformed by 91.16% the S&P500.The move comes after 7 months positive chart setup for the $29.62B company.

Lam Research declared that its board has approved a stock repurchase plan on Tuesday, November 14th that allows the company to repurchase $2.00 billion in outstanding shares. 1,537,176 shares of the company traded hands. The stock has been active on the tape, now trading at $180.53, down from yesterday's close by -0.12%. About 76,409 shares traded. (VRX) has declined 48.51% since December 6, 2016 and is downtrending. It has underperformed by 16.70% the S&P500.

Out of 6 Wall Street analysts rating Lam Research, 5 give it "Buy", 0 "Sell" rating, while 1 recommend "Hold". Therefore 86% are positive. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. As per Thursday, October 6, the company rating was maintained by Citigroup. Argus Research maintained the shares of LRCX in report on Thursday, October 19 with "Buy" rating. The stock's average target of $118.75 is -35.42% below today's ($183.88) share price. The rating was maintained by Bank of America on Wednesday, October 18 with "Buy". The rating was maintained by Cowen & Co on Thursday, December 10 with "Outperform". CLSA upgraded Lam Research Corporation (NASDAQ:LRCX) on Friday, September 25 to "Buy" rating. Moreover, Tarbox Family Office has 0.01% invested in Lam Research Corporation (NASDAQ:LRCX) for 149 shares.

While looking at the Stock's Performance, Lam Research Corporation now shows a Weekly Performance of -14.31%, where Monthly Performance is -12.61%, Quarterly performance is 10.14%, 6 Months performance is 12.25% and yearly performance percentage is 79.86%. The firm earned "Neutral" rating on Monday, September 21 by Susquehanna.

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It worsened, as 24 investors sold VC shares while 88 reduced holdings. 2 funds opened positions while 9 raised stakes. Davidson Advsr, a Montana-based fund reported 282,142 shares. 79,072 are held by Green Square Cap Limited Company.

Whale Rock Capital Management Llc, which manages about $1.16 billion and $1.43 billion US Long portfolio, decreased its stake in Ellie Mae Inc (NYSE:ELLI) by 93,942 shares to 900,559 shares, valued at $98.98M in 2017Q2, according to the filing. It also reduced its holding in Netease Inc (NASDAQ:NTES) by 142,136 shares in the quarter, leaving it with 208,815 shares, and cut its stake in Shopify Inc. The insider ARCHER TIMOTHY sold $1.39 million. Year to Date performance value (YTD perf) value is 70.94%.

More important recent Lam Research Corporation (NASDAQ:LRCX) news were published by: Nasdaq.com which released: "Lam Research Corporation (LRCX) Ex-Dividend Date Scheduled for December 05, 2017" on December 04, 2017, also Nasdaq.com published article titled: "Why Lam Research Corporation (LRCX) Stock Might be a Great Pick", Nasdaq.com published: "Lam Research (LRCX) Up 9.6% Since Earnings Report: Can It Continue?" on November 17, 2017. Investors of record on Wednesday, December 6th will be given a dividend of $0.50 per share. Its down 0.14, from 1.12 in 2017Q1. It is negative, as 43 investors sold LRCX shares while 255 reduced holdings. Janus Henderson Group PLC raised its position in shares of Lam Research by 23,238.8% during the second quarter. Lam Research Corporation's beta is 1.62 whilst the stock has an average true range (ATR) of 7.43. Americafirst Cap Mgmt Llc reported 3,336 shares. State Common Retirement Fund holds 449,848 shares or 0.08% of its portfolio. Manchester Capital Ltd Limited Liability Company reported 0.03% in Lam Research Corporation (NASDAQ:LRCX). American Century Companies Inc. now owns 1,950,620 shares of the semiconductor company's stock valued at $275,876,000 after purchasing an additional 141,444 shares during the last quarter. Tudor Corp Et Al has 0.02% invested in Lam Research Corporation (NASDAQ:LRCX). Nordea Investment Management AB grew its position in shares of Lam Research by 66.0% in the third quarter. Stifel Fincl Corporation has invested 0.05% in Lam Research Corporation (NASDAQ:LRCX). 517,325 were reported by Uss Inv Management Limited. 20,607 were reported by Caisse De Depot Et Placement Du Quebec.

Lam Research Corporation present liabilities are with in limit of current assets, and Lam Research Corporation in comparison to current debt, ratio of cash and other liquid resources stands at 2.8.

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