JPMorgan Chase & Co. Increases Lam Research (NASDAQ:LRCX) Price Target to $950.00

Lam Research (NASDAQ:LRCX) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $900.00 to $950.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 2.66% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a research report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $1,030.00 price target on shares of Lam Research in a research report on Thursday. Raymond James upped their price target on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $1,100.00 target price on shares of Lam Research in a research report on Thursday. Finally, The Goldman Sachs Group increased their target price on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Trading Up 2.7 %

Shares of NASDAQ:LRCX opened at $925.37 on Thursday. The stock has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.20 and a beta of 1.51. Lam Research has a 1-year low of $493.42 and a 1-year high of $1,007.39. 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 company has a 50 day moving average price of $943.67 and a 200 day moving average price of $809.10.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.99 EPS. On average, research analysts anticipate that Lam Research will post 29.46 EPS for the current fiscal year.

Insider Activity

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in Lam Research in the 3rd quarter worth $25,000. BluePath Capital Management LLC acquired a new stake in Lam Research in the 3rd quarter worth $28,000. DSM Capital Partners LLC acquired a new stake in Lam Research in the 4th quarter worth $28,000. OFI Invest Asset Management acquired a new stake in Lam Research in the 3rd quarter worth $30,000. Finally, Asset Dedication LLC grew its position in Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

About Lam Research

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.