Lam Research (NASDAQ:LRCX) Given New $195.00 Price Target at New Street Research

Lam Research (NASDAQ:LRCX) had its target price increased by equities researchers at New Street Research from $140.00 to $195.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. New Street Research’s price target would suggest a potential downside of 11.64% from the company’s previous close.

Several other analysts have also recently issued reports on LRCX. BNP Paribas Exane upped their target price on shares of Lam Research from $80.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Bank of America upped their price target on shares of Lam Research from $195.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Royal Bank Of Canada set a $260.00 price objective on Lam Research in a research note on Wednesday, January 14th. Susquehanna reaffirmed a “positive” rating and issued a $250.00 price target on shares of Lam Research in a research report on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $260.00 price objective (up previously from $195.00) on shares of Lam Research in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.52.

Lam Research Trading Down 3.4%

Lam Research stock opened at $220.70 on Thursday. Lam Research has a 1 year low of $56.32 and a 1 year high of $236.10. The firm’s 50 day moving average price is $176.68 and its 200-day moving average price is $140.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.21 and a quick ratio of 1.60. The stock has a market cap of $277.21 billion, a P/E ratio of 48.61, a PEG ratio of 2.61 and a beta of 1.77.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 22nd. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.04. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.23 billion. Lam Research had a net margin of 29.66% and a return on equity of 60.60%. Lam Research’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 EPS. On average, equities analysts predict that Lam Research will post 3.71 earnings per share for the current fiscal year.

Insider Transactions at Lam Research

In related news, Director Bethany Mayer sold 1,298 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $159.99, for a total value of $207,667.02. Following the transaction, the director directly owned 1,652 shares of the company’s stock, valued at $264,303.48. This trade represents a 44.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Douglas R. Bettinger sold 40,080 shares of Lam Research stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $150.60, for a total value of $6,036,048.00. Following the transaction, the chief financial officer directly owned 987,237 shares in the company, valued at approximately $148,677,892.20. This trade represents a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 50,418 shares of company stock worth $7,667,305 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Lam Research

A number of large investors have recently bought and sold shares of the business. PMV Capital Advisers LLC acquired a new position in shares of Lam Research during the 4th quarter worth approximately $25,000. Stance Capital LLC purchased a new position in Lam Research in the third quarter valued at about $26,000. Triumph Capital Management acquired a new position in shares of Lam Research during the third quarter worth about $27,000. Harbor Investment Advisory LLC boosted its position in shares of Lam Research by 73.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 240 shares of the semiconductor company’s stock worth $41,000 after buying an additional 102 shares during the period. Finally, IMG Wealth Management Inc. acquired a new stake in shares of Lam Research in the second quarter valued at about $26,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

About Lam Research

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.