Lam Research (NASDAQ:LRCX) PT Raised to $960.00 at Mizuho

Lam Research (NASDAQ:LRCX) had its price objective increased by equities researchers at Mizuho from $935.00 to $960.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Mizuho’s price target points to a potential upside of 3.74% from the stock’s current price.

LRCX has been the subject of a number of other reports. Citigroup upped their price target on shares of Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Stifel Nicolaus upped their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group upped their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Raymond James upped their price target on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Cantor Fitzgerald upped their price target on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $925.37 on Thursday. The firm has a 50 day moving average of $943.67 and a 200 day moving average of $809.10. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $121.32 billion, a price-to-earnings 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.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.76%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $6.99 earnings per share. On average, research analysts anticipate that Lam Research will post 28.96 earnings per share for the current year.

Insider Activity at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’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 completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock valued at $6,559,489 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LRCX. Exchange Traded Concepts LLC grew its holdings in shares of Lam Research by 28.8% in the third quarter. Exchange Traded Concepts LLC now owns 2,458 shares of the semiconductor company’s stock worth $1,541,000 after purchasing an additional 549 shares during the last quarter. Strategic Blueprint LLC grew its holdings in shares of Lam Research by 18.2% in the third quarter. Strategic Blueprint LLC now owns 1,137 shares of the semiconductor company’s stock worth $713,000 after purchasing an additional 175 shares during the last quarter. Oak Thistle LLC grew its holdings in shares of Lam Research by 14.5% in the third quarter. Oak Thistle LLC now owns 530 shares of the semiconductor company’s stock worth $332,000 after purchasing an additional 67 shares during the last quarter. Czech National Bank grew its holdings in shares of Lam Research by 46.5% in the third quarter. Czech National Bank now owns 23,297 shares of the semiconductor company’s stock worth $14,602,000 after purchasing an additional 7,393 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Lam Research by 2.0% in the third quarter. Asset Management One Co. Ltd. now owns 62,610 shares of the semiconductor company’s stock worth $39,242,000 after purchasing an additional 1,217 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

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.