Lam Research (NASDAQ:LRCX) PT Raised to $1,050.00

Lam Research (NASDAQ:LRCX) had its price target lifted by equities research analysts at Stifel Nicolaus from $950.00 to $1,050.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 15.10% from the company’s current price.

LRCX has been the subject of a number of other reports. Mizuho upped their target price on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company raised their target price on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. TD Cowen increased their price objective on shares of Lam Research from $710.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price for the company. Finally, Barclays raised their target price on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $875.55.

Lam Research Stock Performance

NASDAQ LRCX opened at $912.26 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The company has a market capitalization of $119.60 billion, a P/E ratio of 35.28, a P/E/G ratio of 3.43 and a beta of 1.51. The company has a fifty day moving average of $945.78 and a 200-day moving average of $797.54. Lam Research has a 52-week low of $482.74 and a 52-week high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. Lam Research’s quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.71 earnings per share. As a group, equities research analysts predict that Lam Research will post 28.9 EPS for the current fiscal year.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on 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 sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,029 shares of company stock worth $6,559,489. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Institutional investors have recently modified their holdings of the business. Hobbs Group Advisors LLC acquired a new position in Lam Research in the 4th quarter worth about $27,000. DSM Capital Partners LLC bought a new stake in shares of Lam Research during the 4th quarter valued at about $28,000. Valued Wealth Advisors LLC bought a new position in Lam Research in the fourth quarter worth approximately $30,000. Orion Capital Management LLC bought a new position in Lam Research in the third quarter worth approximately $25,000. Finally, Partnership Wealth Management LLC bought a new position in Lam Research in the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.