Stifel Nicolaus reaffirmed their buy rating on shares of Lam Research Corporation (NASDAQ:LRCX) in a research report sent to investors on Thursday morning. Stifel Nicolaus currently has a $215.00 target price on the semiconductor company’s stock, up from their previous target price of $189.00.

Other equities analysts have also issued reports about the stock. Needham & Company LLC reissued a buy rating and issued a $165.00 price objective (up from $145.00) on shares of Lam Research Corporation in a research report on Saturday, April 22nd. Deutsche Bank AG increased their price objective on shares of Lam Research Corporation from $135.00 to $155.00 and gave the company a buy rating in a research report on Wednesday, April 19th. Citigroup Inc. reissued a buy rating and issued a $200.00 price objective on shares of Lam Research Corporation in a research report on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) lowered shares of Lam Research Corporation from a conviction-buy rating to a buy rating and increased their price objective for the company from $153.00 to $160.00 in a research report on Monday, May 8th. They noted that the move was a valuation call. Finally, B. Riley reissued a buy rating and issued a $175.00 price objective on shares of Lam Research Corporation in a research report on Monday, April 24th. Two research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $173.88.

Shares of Lam Research Corporation (NASDAQ:LRCX) traded down 1.32% on Thursday, reaching $159.46. 2,408,257 shares of the company traded hands. The stock has a market cap of $25.79 billion, a price-to-earnings ratio of 17.26 and a beta of 1.45. 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.

Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.09. The company 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 was up 51.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.80 earnings per share. On average, analysts expect that Lam Research Corporation will post $12.65 earnings per share for the current year.

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In other Lam Research Corporation news, COO Timothy Archer sold 6,897 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total transaction of $1,106,968.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $155.41, for a total transaction of $116,557.50. The disclosure for this sale can be found here. Insiders have sold 51,656 shares of company stock worth $7,925,366 over the last quarter. Corporate insiders own 0.46% of the company’s stock.

A number of large investors have recently made changes to their positions in LRCX. Stephens Inc. AR increased its stake 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 worth $109,000 after buying an additional 54 shares during the last quarter. IFP Advisors Inc increased its stake 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 worth $109,000 after buying an additional 22 shares during the last quarter. Huntington National Bank increased its stake 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 worth $144,000 after buying an additional 504 shares during the last quarter. Quadrant Capital Group LLC increased its stake 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 worth $168,000 after buying an additional 4 shares during the last quarter. Finally, Financial Architects Inc increased its stake 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 worth $193,000 after buying an additional 1,258 shares during the last quarter. Hedge funds and other institutional investors own 99.69% of the company’s stock.

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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