Lam Research (NASDAQ:LRCX) PT Raised to $1,030.00

Lam Research (NASDAQ:LRCX) had its price objective boosted by equities research analysts at Needham & Company LLC from $900.00 to $1,030.00 in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 12.91% from the company’s current price.

A number of other equities analysts have also recently commented on the company. The Goldman Sachs Group raised their target price on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barclays raised their price target on Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Cantor Fitzgerald lifted their target price on Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price on the stock. Finally, Raymond James lifted their price target on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $881.45.

Lam Research Stock Performance

Shares of LRCX opened at $912.26 on Thursday. The business’s fifty day simple moving average is $945.78 and its two-hundred day simple moving average is $797.54. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. Lam Research has a 12 month low of $482.74 and a 12 month high of $1,007.39. The company has a market cap of $119.60 billion, a price-to-earnings ratio of 35.28, a P/E/G ratio of 3.49 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same period last year, the business posted $10.71 EPS. Research analysts anticipate that Lam Research will post 28.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Christina Corrreia sold 647 shares of the business’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 $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Christina Corrreia sold 647 shares of the business’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 $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock valued at $6,559,489 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lam Research

Hedge funds have recently added to or reduced their stakes in the business. Blue Whale Capital LLP boosted its holdings in 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 purchasing an additional 800 shares during the last quarter. Everence Capital Management Inc. boosted its stake in shares of Lam Research by 54.7% during the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after acquiring an additional 1,440 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Lam Research by 32,411.1% during the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after acquiring an additional 14,585 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Lam Research during the 4th quarter worth about $7,930,000. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Lam Research by 0.9% during the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after acquiring an additional 560 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

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.