Lam Research (NASDAQ:LRCX) PT Raised to $319.00 at Stifel Nicolaus

Lam Research (NASDAQ:LRCX) had its price objective increased by Stifel Nicolaus from $284.00 to $319.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 12.45% from the stock’s current price.

Several other equities research analysts have also issued reports on LRCX. DA Davidson lifted their price target on shares of Lam Research to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Royal Bank of Canada lifted their price target on shares of Lam Research from $230.00 to $273.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Evercore ISI raised shares of Lam Research from an “in-line” rating to an “outperform” rating in a report on Tuesday, September 3rd. Goldman Sachs Group lowered shares of Lam Research from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Finally, UBS Group lifted their price target on shares of Lam Research from $205.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Lam Research presently has an average rating of “Buy” and an average price target of $260.42.

LRCX stock traded up $8.59 during trading hours on Tuesday, reaching $283.68. The stock had a trading volume of 2,126,300 shares, compared to its average volume of 1,780,716. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.59 and a quick ratio of 2.99. Lam Research has a fifty-two week low of $122.64 and a fifty-two week high of $285.87. The stock has a market capitalization of $39.53 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.67. The stock has a 50-day simple moving average of $251.66 and a 200 day simple moving average of $212.62.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.17. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.17 billion. Lam Research had a net margin of 22.38% and a return on equity of 43.11%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.36 EPS. On average, sell-side analysts forecast that Lam Research will post 15.04 EPS for the current fiscal year.

In other news, EVP Richard A. Gottscho sold 2,497 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $273.93, for a total value of $684,003.21. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Vahid Vahedi sold 12,007 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $220.00, for a total transaction of $2,641,540.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,202 shares of company stock worth $21,620,104. 0.43% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its position in shares of Lam Research by 2.0% during the 3rd quarter. Cetera Investment Advisers now owns 5,797 shares of the semiconductor company’s stock valued at $1,336,000 after acquiring an additional 113 shares during the period. Cetera Advisor Networks LLC increased its stake in Lam Research by 45.1% during the 3rd quarter. Cetera Advisor Networks LLC now owns 2,236 shares of the semiconductor company’s stock valued at $519,000 after purchasing an additional 695 shares in the last quarter. Miracle Mile Advisors LLC bought a new stake in Lam Research during the 3rd quarter valued at $238,000. Trillium Asset Management LLC bought a new stake in Lam Research during the 3rd quarter valued at $218,000. Finally, Insight Wealth Strategies LLC increased its stake in Lam Research by 15.1% during the 3rd quarter. Insight Wealth Strategies LLC now owns 11,814 shares of the semiconductor company’s stock valued at $2,730,000 after purchasing an additional 1,551 shares in the last quarter. Institutional investors own 88.59% 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 worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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The Fly

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