Stifel Nicolaus Increases Lam Research (NASDAQ:LRCX) Price Target to $352.00

Lam Research (NASDAQ:LRCX) had its target price raised by research analysts at Stifel Nicolaus from $305.00 to $352.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price points to a potential downside of 6.67% from the company’s previous close.

LRCX has been the subject of a number of other research reports. Bank of America reissued a “buy” rating and issued a $325.00 price objective on shares of Lam Research in a research note on Monday, April 20th. DA Davidson boosted their price target on Lam Research from $270.00 to $370.00 and gave the stock a “neutral” rating in a research report on Thursday. B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and raised their price objective for the company from $270.00 to $435.00 in a research report on Tuesday, July 21st. Royal Bank of Canada boosted their target price on shares of Lam Research from $300.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Barclays increased their price target on shares of Lam Research from $315.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $370.35.

LRCX opened at $377.16 on Thursday. The company has a market capitalization of $54.75 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 1.73 and a beta of 1.35. The company has a current ratio of 3.43, a quick ratio of 3.67 and a debt-to-equity ratio of 0.96. Lam Research has a 12-month low of $181.38 and a 12-month high of $381.48. The business’s fifty day simple moving average is $327.42 and its 200-day simple moving average is $289.35.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 29th. The semiconductor company reported $4.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.20 by $0.58. Lam Research had a net margin of 22.42% and a return on equity of 49.72%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the business earned $3.62 EPS. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities research analysts predict that Lam Research will post 17.13 EPS for the current year.

In other news, EVP Patrick J. Lord sold 10,719 shares of the stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $343.00, for a total transaction of $3,676,617.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kevin Jennings sold 12,059 shares of Lam Research stock in a transaction on Friday, July 10th. The shares were sold at an average price of $335.55, for a total transaction of $4,046,397.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,466 shares of company stock valued at $11,250,054. Insiders own 0.43% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Duncker Streett & Co. Inc. raised its holdings in shares of Lam Research by 11.6% during the second quarter. Duncker Streett & Co. Inc. now owns 269 shares of the semiconductor company’s stock valued at $87,000 after acquiring an additional 28 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in Lam Research by 4.1% in the 2nd quarter. Westside Investment Management Inc. now owns 895 shares of the semiconductor company’s stock valued at $289,000 after purchasing an additional 35 shares in the last quarter. Baldwin Investment Management LLC boosted its stake in Lam Research by 0.4% during the 2nd quarter. Baldwin Investment Management LLC now owns 8,050 shares of the semiconductor company’s stock worth $2,604,000 after purchasing an additional 35 shares during the last quarter. Bay Rivers Group grew its holdings in shares of Lam Research by 2.1% during the second quarter. Bay Rivers Group now owns 1,868 shares of the semiconductor company’s stock worth $604,000 after buying an additional 38 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its stake in shares of Lam Research by 2.3% in the second quarter. Belpointe Asset Management LLC now owns 1,763 shares of the semiconductor company’s stock worth $570,000 after buying an additional 39 shares in the last quarter. 85.05% of the stock is currently 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 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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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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