Lam Research Corporation (NASDAQ:LRCX) had its target price hoisted by Needham & Company LLC from $175.00 to $200.00 in a research note released on Thursday morning, Marketbeat reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other research firms also recently weighed in on LRCX. Cowen and Company reissued an outperform rating and set a $185.00 target price (up previously from $150.00) on shares of Lam Research Corporation in a research report on Thursday. B. Riley reissued a buy rating and set a $220.00 target price on shares of Lam Research Corporation in a research report on Thursday. DA Davidson reissued a buy rating and set a $175.00 target price on shares of Lam Research Corporation in a research report on Wednesday, July 26th. UBS AG reissued a buy rating and set a $190.00 target price (up previously from $180.00) on shares of Lam Research Corporation in a research report on Monday, June 5th. Finally, Bank of America Corporation reissued a buy rating and set a $195.00 target price (up previously from $165.00) on shares of Lam Research Corporation in a research report on Sunday, June 11th. Two analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $173.88.

Lam Research Corporation (NASDAQ:LRCX) traded down 0.37% during midday trading on Thursday, hitting $161.00. 539,192 shares of the stock were exchanged. Lam Research Corporation has a 12 month low of $88.13 and a 12 month high of $170.00. The company has a market cap of $26.04 billion, a PE ratio of 17.42 and a beta of 1.45. The firm’s 50 day moving average price is $153.52 and its 200 day moving average price is $136.44.

Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the firm earned $1.80 EPS. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, equities research analysts forecast that Lam Research Corporation will post $12.65 earnings per share for the current fiscal year.

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In related news, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total value of $116,557.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Timothy Archer sold 8,942 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $155.51, for a total transaction of $1,390,570.42. The disclosure for this sale can be found here. Insiders sold 51,656 shares of company stock valued at $7,925,366 in the last three months. 0.46% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Main Street Research LLC raised its position in shares of 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 valued at $13,856,000 after buying an additional 3,367 shares during the period. Van ECK Associates Corp raised its position in shares of 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 valued at $30,741,000 after buying an additional 107,149 shares during the period. Soros Fund Management LLC bought a new position in shares of Lam Research Corporation during the first quarter valued at $71,978,000. Rafferty Asset Management LLC raised its position in shares of 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 valued at $5,909,000 after buying an additional 8,255 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of 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 valued at $3,188,000 after buying an additional 1,879 shares during the period. 99.69% of the stock is owned by institutional investors.

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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