Citigroup Raises Lam Research (NASDAQ:LRCX) Price Target to $1,025.00

Lam Research (NASDAQ:LRCX) had its target price boosted by equities research analysts at Citigroup from $975.00 to $1,025.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s target price suggests a potential upside of 10.77% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Evercore ISI began coverage on shares of Lam Research in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price on the stock. Barclays boosted their target price on shares of Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a report on Thursday. Stifel Nicolaus boosted their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Raymond James boosted their target price on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, UBS Group boosted their target price on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Stock Performance

Shares of LRCX opened at $925.37 on Thursday. The firm’s 50 day moving average price is $943.67 and its two-hundred day moving average price is $809.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.02 and a current ratio of 2.82. The firm has a market cap of $121.32 billion, a P/E ratio of 34.03, a PEG ratio of 3.20 and a beta of 1.51. Lam Research has a twelve month low of $493.42 and a twelve month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.99 earnings per share. On average, analysts forecast that Lam Research will post 29.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $6,559,489 over the last quarter. 0.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Whale Capital LLP increased its stake in shares of Lam Research by 0.7% in the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after buying an additional 800 shares during the period. Everence Capital Management Inc. raised its stake in shares of Lam Research by 54.7% during the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after acquiring an additional 1,440 shares during the last quarter. Gradient Investments LLC lifted its holdings in shares of Lam Research by 32,411.1% during the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after purchasing an additional 14,585 shares during the period. Contravisory Investment Management Inc. bought a new stake in shares of Lam Research in the fourth quarter worth $7,930,000. Finally, Treasurer of the State of North Carolina increased its holdings in Lam Research by 0.9% in the third quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after purchasing an additional 560 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.