Lam Research (NASDAQ:LRCX) Price Target Raised to $241.00

Lam Research (NASDAQ:LRCX) had its price objective lifted by stock analysts at Evercore ISI from $170.00 to $241.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Evercore ISI’s price target would indicate a potential upside of 9.95% from the company’s previous close.

LRCX has been the topic of a number of other research reports. Hsbc Global Res upgraded shares of Lam Research to a “hold” rating in a report on Tuesday, September 30th. Dbs Bank increased their price target on shares of Lam Research from $119.40 to $184.20 in a report on Monday, October 27th. Cantor Fitzgerald restated an “overweight” rating and set a $265.00 price objective (up from $210.00) on shares of Lam Research in a research report on Thursday, January 8th. Rothschild & Co Redburn raised their price target on shares of Lam Research from $150.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Lam Research in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $202.81.

Lam Research Trading Up 0.6%

Lam Research stock opened at $219.19 on Monday. The firm has a market capitalization of $275.31 billion, a price-to-earnings ratio of 48.39, a P/E/G ratio of 2.76 and a beta of 1.77. Lam Research has a 52 week low of $56.32 and a 52 week high of $236.10. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 2.21. The company has a 50 day moving average price of $178.08 and a 200 day moving average price of $141.88.

Insider Activity at Lam Research

In other Lam Research news, Director Bethany Mayer sold 1,298 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $159.99, for a total value of $207,667.02. Following the transaction, the director directly owned 1,652 shares of the company’s stock, valued at $264,303.48. This represents a 44.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Douglas R. Bettinger sold 40,080 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $150.60, for a total value of $6,036,048.00. Following the completion of the sale, the chief financial officer owned 987,237 shares of the company’s stock, valued at approximately $148,677,892.20. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,408 shares of company stock valued at $6,248,501 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Several hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock worth $1,025,000 after buying an additional 12,936 shares during the last quarter. Caxton Associates LLP purchased a new stake in Lam Research in the 1st quarter worth approximately $239,000. ORG Partners LLC increased its stake in Lam Research by 7.3% in the 2nd quarter. ORG Partners LLC now owns 1,676 shares of the semiconductor company’s stock worth $162,000 after acquiring an additional 114 shares during the last quarter. LVW Advisors LLC purchased a new stake in Lam Research in the second quarter valued at approximately $245,000. Finally, Guyasuta Investment Advisors Inc. purchased a new stake in shares of Lam Research during the 2nd quarter valued at $202,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Company Profile

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.