Lam Research (NASDAQ:LRCX) Price Target Increased to $1,150.00 by Analysts at UBS Group

Lam Research (NASDAQ:LRCX) had its price target raised by investment analysts at UBS Group from $1,130.00 to $1,150.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. UBS Group’s price objective would indicate a potential upside of 27.57% from the company’s current price.

A number of other brokerages have also recently issued reports on LRCX. Stifel Nicolaus boosted their target price on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. TD Cowen upped their price target on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price target for the company. Evercore ISI assumed coverage on Lam Research in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price target for the company. Finally, Barclays upped their price target on Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $933.85.

Lam Research Trading Up 1.9 %

Shares of NASDAQ:LRCX traded up $16.56 during trading on Thursday, reaching $901.45. 394,478 shares of the stock were exchanged, compared to its average volume of 1,059,362. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39. The firm has a market cap of $118.18 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 3.21 and a beta of 1.51. The firm’s 50-day moving average price is $943.93 and its 200 day moving average price is $806.38.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business earned $6.99 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lam Research will post 28.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the senior vice president now 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 worth $6,559,489 over the last ninety days. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Lam Research

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Whale Capital LLP raised its stake in shares of Lam Research by 0.7% during 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 in the last quarter. 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 purchasing an additional 1,440 shares in the last quarter. Gradient Investments LLC raised its stake 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 valued at $11,459,000 after purchasing an additional 14,585 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Lam Research during the fourth quarter valued at about $7,930,000. Finally, Treasurer of the State of North Carolina raised its stake in shares of Lam Research by 0.9% during 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 in the last quarter. 84.61% of the stock is currently owned by 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.