What Made Needham Downgrade Lam Research’s Stock?

Lam Research (LRCX) received a Hold rating from Needham analyst Quinn Bolton today. The company’s shares closed last Thursday at $514.46, close to its 52-week high of $517.72.

According to TipRanks.com, Bolton is a top 25 analyst with an average return of 42.1% and a 80.6% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Ultra Clean Holdings, and Axcelis Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lam Research with a $519.08 average price target.

See today’s analyst top recommended stocks >>

Lam Research’s market cap is currently $74.09B and has a P/E ratio of 27.10. The company has a Price to Book ratio of 18.22.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LRCX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning. The company was founded by David Lam on January 21, 1980 and is headquartered in Fremont, CA.

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