Lam Research (NASDAQ:LRCX) PT Raised to $1,150.00 at UBS Group

Lam Research (NASDAQ:LRCX) had its target price lifted by investment analysts at UBS Group from $1,130.00 to $1,150.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. UBS Group’s price target would indicate a potential upside of 24.27% from the company’s previous close.

Other analysts have also issued reports about the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $1,100.00 price objective on shares of Lam Research in a report on Thursday. Evercore ISI started coverage on Lam Research in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 target price on the stock. Wells Fargo & Company lifted their price objective on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Needham & Company LLC restated a “buy” rating and set a $1,030.00 target price on shares of Lam Research in a report on Thursday. Finally, Citigroup increased their price target on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $950.85.

Lam Research Trading Up 2.7 %

Shares of LRCX stock opened at $925.37 on Thursday. The company has a current ratio of 2.82, a quick ratio of 2.02 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $943.67 and its 200-day moving average price is $809.10. Lam Research has a twelve month low of $493.42 and a twelve month high of $1,007.39. The stock has a market cap 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 (NASDAQ:LRCX) last released 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 firm 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 business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.99 EPS. As a group, equities analysts predict that Lam Research will post 29.46 earnings per share for the current year.

Insider Buying and Selling

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the business’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 transaction of $857,330.46. Following the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on 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 directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. 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 ninety days. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Lam Research in the fourth quarter valued at about $1,414,111,000. International Assets Investment Management LLC lifted its stake in shares of Lam Research by 76,165.7% during the fourth quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after buying an additional 317,611 shares during the period. Cerity Partners LLC boosted its position in Lam Research by 1,125.6% during the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock worth $267,984,000 after acquiring an additional 314,224 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Lam Research by 10.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after acquiring an additional 159,815 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Lam Research by 106.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock valued at $188,702,000 after acquiring an additional 155,240 shares during the last quarter. Hedge funds and other 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.