Lam Research (NASDAQ:LRCX) PT Raised to $1,000.00 at TD Cowen

Lam Research (NASDAQ:LRCX) had its price objective raised by equities researchers at TD Cowen from $975.00 to $1,000.00 in a note issued to investors on Thursday, Briefing.com reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price objective points to a potential upside of 13.01% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft initiated 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 objective for the company. Raymond James lifted their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. The Goldman Sachs Group lifted their price objective on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Wells Fargo & Company lifted their price objective on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Stifel Nicolaus boosted their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $933.10.

Lam Research Price Performance

NASDAQ:LRCX 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 current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $943.93 and a 200 day simple moving average of $806.38. The stock has a market capitalization of $116.01 billion, a PE ratio of 34.22, a P/E/G ratio of 3.21 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating 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 business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the business earned $10.71 earnings per share. The firm’s revenue was down 28.8% on a year-over-year basis. On average, research analysts expect that Lam Research will post 28.96 EPS for the current fiscal year.

Insider Activity at Lam Research

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business’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 transaction, the chief accounting officer now 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 can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock valued at $6,559,489 over the last quarter. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Blue Whale Capital LLP increased its stake in shares of Lam Research by 0.7% in the third quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after buying an additional 800 shares during the period. Everence Capital Management Inc. increased its stake in shares of Lam Research by 54.7% in the fourth quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock valued at $3,190,000 after buying an additional 1,440 shares during the period. Gradient Investments LLC increased its stake in shares of Lam Research by 32,411.1% in the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock valued at $11,459,000 after buying an additional 14,585 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $7,930,000. Finally, Treasurer of the State of North Carolina boosted its holdings in Lam Research by 0.9% in the third 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 during 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.