Lam Research (NASDAQ:LRCX) Given New $950.00 Price Target at JPMorgan Chase & Co.

Lam Research (NASDAQ:LRCX) had its price objective upped by analysts at JPMorgan Chase & Co. from $900.00 to $950.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 4.68% from the stock’s current price.

A number of other brokerages have also issued reports on LRCX. Susquehanna cut their target price on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research report on Thursday. TD Cowen boosted their target price on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $870.00 to $1,100.00 in a research report on Friday, April 19th. Evercore ISI assumed coverage on Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price on the stock. Finally, Stifel Nicolaus lifted their price target on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $946.35.

Lam Research Price Performance

Shares of LRCX traded up $22.60 during midday trading on Thursday, reaching $907.49. The stock had a trading volume of 629,272 shares, compared to its average volume of 1,062,697. Lam Research has a 52 week low of $493.42 and a 52 week high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The firm’s 50 day moving average price is $943.93 and its 200-day moving average price is $806.38. The company has a market capitalization of $118.97 billion, a P/E ratio of 34.97, a P/E/G ratio of 3.21 and a beta of 1.51.

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, topping analysts’ consensus estimates of $7.26 by $0.53. The company 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 44.47% and a net margin of 24.15%. Lam Research’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.99 earnings per share. On average, analysts forecast that Lam Research will post 28.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Lam Research

In other news, 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 sale, 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 filing with the SEC, which is accessible through this hyperlink. In other news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a filing with the SEC, which is accessible through 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 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 approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

Large investors have recently made changes to their positions in the business. Blue Whale Capital LLP lifted its position in shares of Lam Research by 0.7% during the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after purchasing an additional 800 shares during the last quarter. Everence Capital Management Inc. raised its holdings in Lam Research by 54.7% in the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after acquiring an additional 1,440 shares in the last quarter. Gradient Investments LLC raised its holdings in Lam Research by 32,411.1% in the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after acquiring an additional 14,585 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Lam Research in the 4th quarter valued at approximately $7,930,000. Finally, Treasurer of the State of North Carolina raised its holdings in Lam Research by 0.9% in 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 in 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.