Lam Research (NASDAQ:LRCX) Given “Buy” Rating at Needham & Company LLC

Lam Research (NASDAQ:LRCX)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They presently have a $1,030.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 16.40% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. B. Riley raised shares of Lam Research from a “neutral” rating to a “buy” rating and lifted their price target for the company from $870.00 to $1,100.00 in a research note on Friday, April 19th. TD Cowen increased their target price on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday. Barclays boosted their price target on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Stifel Nicolaus raised their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Mizuho boosted their target price on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $932.85.

Lam Research Price Performance

LRCX stock opened at $884.89 on Thursday. The company’s fifty day simple moving average is $943.93 and its 200 day simple moving average is $806.38. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The firm has a market cap of $116.01 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 3.21 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. 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 posted $10.71 EPS. The company’s quarterly revenue was down 28.8% on a year-over-year basis. On average, analysts expect that Lam Research will post 28.96 earnings per share for the current year.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $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 shares were 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 $20,380,648.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,029 shares of company stock worth $6,559,489. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several large investors have recently modified their holdings of LRCX. Albert D Mason Inc. boosted its holdings in Lam Research by 1.1% in the 1st quarter. Albert D Mason Inc. now owns 1,400 shares of the semiconductor company’s stock worth $1,360,000 after buying an additional 15 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of Lam Research by 53.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,193 shares of the semiconductor company’s stock worth $16,704,000 after acquiring an additional 6,011 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Lam Research by 18.3% in the first quarter. V Square Quantitative Management LLC now owns 3,513 shares of the semiconductor company’s stock worth $3,413,000 after acquiring an additional 543 shares during the period. Simplicity Wealth LLC bought a new stake in shares of Lam Research during the 1st quarter valued at $2,873,000. Finally, Bar Harbor Wealth Management raised its stake in shares of Lam Research by 1.3% during the 1st quarter. Bar Harbor Wealth Management now owns 5,784 shares of the semiconductor company’s stock valued at $5,620,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors 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.