Credit Suisse Group set a $214.00 price objective on Lam Research Corporation (NASDAQ:LRCX) in a research note published on Thursday. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also weighed in on the stock. Needham & Company LLC reiterated a buy rating and issued a $165.00 target price (up from $145.00) on shares of Lam Research Corporation in a report on Saturday, April 22nd. Deutsche Bank AG boosted their target price on shares of Lam Research Corporation from $135.00 to $155.00 and gave the company a buy rating in a report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) lowered shares of Lam Research Corporation from a conviction-buy rating to a buy rating and boosted their target price for the company from $153.00 to $160.00 in a report on Monday, May 8th. They noted that the move was a valuation call. B. Riley reiterated a buy rating and issued a $175.00 target price on shares of Lam Research Corporation in a report on Monday, April 24th. Finally, UBS AG reiterated a buy rating and issued a $158.00 target price (up from $144.00) on shares of Lam Research Corporation in a report on Saturday, April 22nd. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $173.88.

Shares of Lam Research Corporation (NASDAQ LRCX) opened at 161.60 on Thursday. Lam Research Corporation has a 52 week low of $88.13 and a 52 week high of $170.00. The firm has a 50-day moving average of $153.52 and a 200 day moving average of $136.44. The company has a market cap of $26.13 billion, a P/E ratio of 17.49 and a beta of 1.45.

Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.95%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the company earned $1.80 EPS. Lam Research Corporation’s revenue was up 51.6% compared to the same quarter last year. Equities analysts expect that Lam Research Corporation will post $12.65 EPS for the current fiscal year.

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In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total transaction of $120,375.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Timothy Archer sold 6,897 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,656 shares of company stock worth $7,925,366. 0.46% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in LRCX. Main Street Research LLC raised its stake in Lam Research Corporation by 3.6% in the second quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock worth $13,856,000 after buying an additional 3,367 shares during the period. Van ECK Associates Corp raised its stake in Lam Research Corporation by 81.0% in the first quarter. Van ECK Associates Corp now owns 239,488 shares of the semiconductor company’s stock worth $30,741,000 after buying an additional 107,149 shares during the period. Soros Fund Management LLC acquired a new stake in Lam Research Corporation during the first quarter worth about $71,978,000. Rafferty Asset Management LLC raised its stake in Lam Research Corporation by 21.9% in the first quarter. Rafferty Asset Management LLC now owns 46,035 shares of the semiconductor company’s stock worth $5,909,000 after buying an additional 8,255 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Lam Research Corporation by 8.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 24,838 shares of the semiconductor company’s stock worth $3,188,000 after buying an additional 1,879 shares during the period. Institutional investors own 99.69% of the company’s stock.

About Lam Research Corporation

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

Analyst Recommendations for Lam Research Corporation (NASDAQ:LRCX)

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