Lam Research (NASDAQ:LRCX) Price Target Raised to $865.00

Lam Research (NASDAQ:LRCX) had its price target raised by analysts at Barclays from $825.00 to $865.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price target indicates a potential downside of 6.52% from the company’s current price.

Other analysts have also recently issued research reports about the company. TD Cowen lifted their price objective on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group lifted their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Needham & Company LLC reissued a “buy” rating and set a $1,030.00 price objective on shares of Lam Research in a research note on Thursday. Stifel Nicolaus lifted their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, UBS Group increased their price target on Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $950.85.

Lam Research Stock Up 2.7 %

Shares of NASDAQ LRCX opened at $925.37 on Thursday. The firm’s 50-day moving average is $943.67 and its two-hundred day moving average is $809.10. The company has a market capitalization of $121.32 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 3.20 and a beta of 1.51. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 2.02.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. Lam Research’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.99 EPS. Equities analysts anticipate that Lam Research will post 29.46 EPS for the current fiscal year.

Insider Transactions at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated 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 directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’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 value of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of Lam Research 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 $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock valued at $6,559,489 over the last quarter. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Institutional investors have recently added to or reduced their stakes in the company. Blue Whale Capital LLP lifted its stake in shares of Lam Research by 0.7% in the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after acquiring an additional 800 shares in the last quarter. Everence Capital Management Inc. boosted its stake in shares of Lam Research by 54.7% during the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after buying an additional 1,440 shares during the last quarter. Gradient Investments LLC increased its stake in shares of Lam Research by 32,411.1% in the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after buying an additional 14,585 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in Lam Research in the fourth quarter valued at $7,930,000. Finally, Treasurer of the State of North Carolina boosted its stake in Lam Research by 0.9% during the 3rd 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 acquiring an additional 560 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.