Lam Research (NASDAQ:LRCX) Price Target Raised to $865.00

Lam Research (NASDAQ:LRCX) had its price objective raised by equities researchers at Barclays from $825.00 to $865.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price suggests a potential downside of 4.62% from the company’s current price.

Several other equities research analysts have also recently commented on the company. The Goldman Sachs Group raised their target price on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. B. Riley raised shares of Lam Research from a “neutral” rating to a “buy” rating and increased their target price for the stock from $870.00 to $1,100.00 in a research note on Friday, April 19th. Citigroup upped their price objective on shares of Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Susquehanna dropped their price target on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, TD Cowen boosted their price objective on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $948.35.

Lam Research Trading Up 2.5 %

LRCX traded up $22.03 during midday trading on Thursday, hitting $906.92. 767,119 shares of the company were exchanged, compared to its average volume of 1,064,287. Lam Research has a 1-year low of $493.42 and a 1-year 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 capitalization of $118.90 billion, a P/E ratio of 35.20, a P/E/G ratio of 3.21 and a beta of 1.51. The firm’s 50 day moving average price is $943.93 and its 200-day moving average price is $806.38.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the firm posted $6.99 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that Lam Research will post 28.96 EPS for the current fiscal year.

Insider Activity at Lam Research

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 owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction 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 company’s 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 owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 in the last three months. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Lam Research

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new stake in shares of Lam Research in the 3rd quarter worth about $25,000. BluePath Capital Management LLC bought a new stake in Lam Research during the third quarter worth about $28,000. DSM Capital Partners LLC purchased a new stake in Lam Research in the fourth quarter worth about $28,000. OFI Invest Asset Management bought a new position in shares of Lam Research during the third quarter valued at approximately $30,000. Finally, Asset Dedication LLC raised its stake in 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 buying an additional 17 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other 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.