Morgan Stanley Begins Coverage on Lam Research Corporation (NASDAQ:LRCX). What’s Next?


How Morgan Stanley Currently Rates Lam Research Corporation (NASDAQ:LRCX)

The Investment firm Morgan Stanley has have started coverage on Lam Research Corporation (NASDAQ:LRCX)’s stock, rating it Overweight. This was issued in a comprehensive report on Tuesday morning.

From a total of 17 analysts covering Lam Research Corporation (NASDAQ:LRCX) stock, 16 rate it a ”Buy”, 1 a “Sell”, and 1 a ”Hold”. This means that 89% of the ratings are positive. The highest target price is $105 while the lowest target price is $56. The mean of all analyst targets is $92.24 with a 5.63% above today’s ($80.28) stock price. Lam Research Corporation was the topic of 17 analyst reports since September 17, 2015 according to the firm StockzIntelligence Inc. Cowen & Co maintained shares on December 10 with “Outperform” rating. Susquehanna maintained shares with “Neutral” rating and $76 target share price in a report from a September 21. RBC Capital Markets maintained LRCX stock in a recent report from October 22 with “Underperform” rating. Finally, CLSA upgraded the stock to “Buy” rating in a report issued on a September 25.

Approximately 1.44M shares of stock traded hands. Lam Research Corporation (NASDAQ:LRCX) has risen 0.99% since May 12, 2015 and is uptrending. It has outperformed by 4.67% the S&P500.

The overall sentiment of institutions has increased to 1.13 in Q2 2015. Its up 0.23, from 0.9 in 2015Q2. The ratio is positive, as 66 institutions have sold all the shares of Lam Research Corporation that they owned while 160 funds have taken shares off the table. 68 funds have purchased shares for the first time while 188 added to their positions. These institutions now hold 155.82 million shares or 0.01% less than the 155.83 million shares they owned in 2015Q2.

The Fund Rgm Capital Llc currently is holding shares equating to 9.81% of its total portfolio in Lam Research Corporation representing a total of 1.12 million shares. Another fund,Oaktop Capital Management Ii L.P., is holding a total of 294,504 shares equating to 4.32% of their holdings. Additionally, Dorsal Capital Management Llc has a 700,000 share stake in Lam Research Corporation which represents 4.21% of their total portfolio. The Fund, Swarthmore Group Inc, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 3.94% of their total portfolio. Finally Firsthand Capital Management Inc., a fund which is based in the state of California reported a total holdings of 70,000 shares.

Insider activity is a very important aspect to track on any stock. Going back to April 3, 2015, shareholders of Lam Research Corporation have witnessed 0 buys, and a total of 1 insider sale equating to a net activity of approximately $605,526 . Anstice Martin B sold 7,948 shares worth approximately $605,526. O’dowd Sarah A sold 5,000 shares worth approximately $352,950.

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The company has a market cap of $12.30 billion. 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 has 17.6 P/E ratio. It also addresses processes for back-end wafer-level packaging (WLP).

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.”