TD Cowen Increases Lam Research (NASDAQ:LRCX) Price Target to $1,000.00

Lam Research (NASDAQ:LRCX) had its price objective increased by equities research analysts at TD Cowen from $975.00 to $1,000.00 in a report issued on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price suggests a potential upside of 8.06% from the stock’s current price.

Several other analysts have also commented on the company. Cantor Fitzgerald raised their price objective on Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Raymond James boosted their price target on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Citigroup upped their price objective 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. Barclays lifted their target price on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price target for the company. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Stock Performance

LRCX opened at $925.37 on Thursday. The firm has a fifty day moving average price of $943.67 and a 200 day moving average price of $809.10. Lam Research has a 1 year low of $493.42 and a 1 year high of $1,007.39. The stock has a market cap of $121.32 billion, a P/E ratio of 34.03, a P/E/G ratio of 3.20 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02.

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

Insider Transactions at Lam Research

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated 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 directly owns 10,541 shares in the company, valued at $10,246,168.23. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly 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 have sold a total of 7,029 shares of company stock worth $6,559,489 in the last quarter. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LRCX. LifeSteps Financial Inc. acquired a new position in shares of Lam Research in the 1st quarter worth approximately $203,000. Mesirow Financial Investment Management Inc. purchased a new stake in Lam Research in the first quarter valued at approximately $206,000. MONECO Advisors LLC acquired a new position in Lam Research during the first quarter worth $220,000. Terra Nova Asset Management LLC boosted its position in shares of Lam Research by 2.9% during the first quarter. Terra Nova Asset Management LLC now owns 4,538 shares of the semiconductor company’s stock worth $4,409,000 after buying an additional 128 shares during the period. Finally, Meridian Wealth Management LLC grew its stake in shares of Lam Research by 1.9% in the first quarter. Meridian Wealth Management LLC now owns 907 shares of the semiconductor company’s stock valued at $881,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

About Lam Research

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.