Lam Research (NASDAQ:LRCX) PT Raised to $1,030.00 at Needham & Company LLC

Lam Research (NASDAQ:LRCX) had its price target boosted by stock 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 presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 18.36% from the stock’s previous close.

Several other research firms have also issued reports on LRCX. Mizuho increased their target price on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Cantor Fitzgerald increased their target price on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. TD Cowen increased their target price on shares of Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Citigroup increased their target price on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company raised their price target on shares of Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $899.64.

Lam Research Price Performance

NASDAQ:LRCX opened at $870.25 on Thursday. Lam Research has a one year low of $493.42 and a one year high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The firm has a market cap of $114.09 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 3.22 and a beta of 1.51. The firm’s fifty day moving average is $945.44 and its two-hundred day moving average is $799.83.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the company earned $10.71 earnings per share. The firm’s revenue was down 28.8% on a year-over-year basis. Research analysts expect that Lam Research will post 28.92 EPS for the current year.

Insider Transactions at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was 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 owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 in the last 90 days. Insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Several institutional investors have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System increased its holdings in Lam Research by 0.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 10,333 shares of the semiconductor company’s stock valued at $9,500,000 after purchasing an additional 87 shares during the last quarter. Everett Harris & Co. CA purchased a new stake in shares of Lam Research during the 1st quarter worth $1,101,000. First Trust Direct Indexing L.P. lifted its position in shares of Lam Research by 12.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,559 shares of the semiconductor company’s stock worth $3,458,000 after purchasing an additional 395 shares during the last quarter. Norden Group LLC lifted its position in shares of Lam Research by 10,023.2% during the 1st quarter. Norden Group LLC now owns 64,080 shares of the semiconductor company’s stock worth $62,265,000 after purchasing an additional 63,447 shares during the last quarter. Finally, Monument Capital Management lifted its position in shares of Lam Research by 11.8% during the 1st quarter. Monument Capital Management now owns 304 shares of the semiconductor company’s stock worth $296,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 84.61% 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. 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.