Lam Research (NASDAQ:LRCX) Price Target Raised to $960.00

Lam Research (NASDAQ:LRCX) had its price objective lifted by equities research analysts at Mizuho from $935.00 to $960.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Mizuho’s target price would indicate a potential upside of 8.49% from the stock’s current price.

A number of other equities research analysts also recently weighed in on LRCX. Stifel Nicolaus lifted their target price on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Susquehanna dropped their target price on Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a report on Thursday. Citigroup lifted their target price on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Needham & Company LLC restated a “buy” rating and issued a $1,030.00 price target on shares of Lam Research in a research report on Thursday. Finally, Evercore ISI assumed coverage on Lam Research in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $932.85.

Lam Research Trading Down 0.3 %

Shares of Lam Research stock opened at $884.89 on Thursday. Lam Research has a 1 year low of $493.42 and a 1 year 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 company has a market capitalization of $116.01 billion, a price-to-earnings ratio of 34.22, a P/E/G ratio of 3.21 and a beta of 1.51. The business has a fifty day simple moving average of $943.93 and a two-hundred day simple moving average of $806.38.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the firm earned $10.71 earnings per share. The company’s revenue was down 28.8% on a year-over-year basis. Research analysts forecast that Lam Research will post 28.96 EPS for the current year.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research 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 transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business’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 $628,903.41. Following the transaction, the chief accounting officer now directly 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 through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly 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 ninety days. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lam Research

Institutional investors have recently added to or reduced their stakes in the business. Orion Capital Management LLC acquired a new position in Lam Research in the third quarter valued at approximately $25,000. BluePath Capital Management LLC bought a new stake in shares of Lam Research during the third quarter valued at approximately $28,000. DSM Capital Partners LLC bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $28,000. OFI Invest Asset Management bought a new stake in shares of Lam Research during the third quarter valued at approximately $30,000. Finally, Asset Dedication LLC increased its holdings in shares of Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 17 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

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.