Cowen and Company restated their outperform rating on shares of Lam Research Corporation (NASDAQ:LRCX) in a research note published on Thursday, Marketbeat reports. They currently have a $185.00 price target on the semiconductor company’s stock, up from their prior price target of $150.00.

Several other analysts have also commented on the stock. Morgan Stanley reaffirmed an overweight rating on shares of Lam Research Corporation in a research report on Friday, July 7th. Bank of America Corporation reaffirmed a buy rating and issued a $195.00 price objective (up previously from $165.00) on shares of Lam Research Corporation in a research report on Sunday, June 11th. Stifel Nicolaus reaffirmed a buy rating and issued a $189.00 price objective (up previously from $170.00) on shares of Lam Research Corporation in a research report on Monday, June 19th. Needham & Company LLC lifted their price objective on shares of Lam Research Corporation from $165.00 to $175.00 and gave the stock a buy rating in a research report on Friday, June 16th. Finally, Citigroup Inc. reaffirmed a buy rating and issued a $200.00 price objective on shares of Lam Research Corporation in a research report on Wednesday, May 17th. Two analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $173.88.

Lam Research Corporation (NASDAQ:LRCX) traded down 0.158% on Thursday, hitting $161.345. 505,928 shares of the stock traded hands. Lam Research Corporation has a 52 week low of $88.13 and a 52 week high of $170.00. The stock has a 50 day moving average of $153.52 and a 200 day moving average of $136.44. The firm has a market capitalization of $26.09 billion, a PE ratio of 17.462 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 EPS for the quarter, topping the consensus estimate of $3.02 by $0.09. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.95%. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 earnings per share. Equities research analysts anticipate that Lam Research Corporation will post $12.65 earnings per share for the current year.

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In related news, Director Stephen G. Newberry sold 20,047 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $150.01, for a total transaction of $3,007,250.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Timothy Archer sold 8,942 shares of the business’s stock in a transaction that occurred on 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. In the last ninety days, insiders have sold 51,656 shares of company stock valued at $7,925,366. 0.46% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its position in shares of Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 22 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 54 shares in the last quarter. Huntington National Bank boosted its position in shares of Lam Research Corporation by 82.1% in the first quarter. Huntington National Bank now owns 1,118 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 504 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 4 shares in the last quarter. Finally, Financial Architects Inc boosted its position in shares of Lam Research Corporation by 1,164.8% in the second quarter. Financial Architects Inc now owns 1,366 shares of the semiconductor company’s stock valued at $193,000 after buying an additional 1,258 shares in the last quarter. 99.69% of the stock is owned by institutional investors.

Lam Research Corporation Company Profile

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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