Lam Research (NASDAQ:LRCX) PT Raised to $1,025.00

Lam Research (NASDAQ:LRCX) had its target price hoisted by equities researchers at Citigroup from $975.00 to $1,025.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s target price would indicate a potential upside of 13.70% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and set a $1,030.00 target price on shares of Lam Research in a research note on Thursday. Mizuho raised their price target on Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,100.00 price objective on shares of Lam Research in a report on Thursday. Raymond James raised their target price on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, TD Cowen upped their price target on shares of Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Stock Up 1.9 %

Shares of LRCX traded up $16.58 during mid-day trading on Thursday, reaching $901.47. The company had a trading volume of 1,307,599 shares, compared to its average volume of 1,071,539. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The firm has a 50-day moving average price of $943.93 and a 200 day moving average price of $806.38. Lam Research has a 52 week low of $493.42 and a 52 week high of $1,007.39. The company has a market capitalization of $118.18 billion, a price-to-earnings ratio of 34.86, a price-to-earnings-growth ratio of 3.21 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.99 EPS. On average, sell-side analysts forecast that Lam Research will post 28.96 EPS for the current year.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,029 shares of company stock valued at $6,559,489. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Several hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in Lam Research in the 4th quarter worth about $1,414,111,000. International Assets Investment Management LLC increased its position in shares of Lam Research by 76,165.7% during the fourth quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after acquiring an additional 317,611 shares during the period. Cerity Partners LLC boosted its stake in shares of Lam Research by 1,125.6% during the fourth quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after purchasing an additional 314,224 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Lam Research by 10.8% during the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after purchasing an additional 159,815 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Lam Research by 106.5% during the third quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock valued at $188,702,000 after purchasing an additional 155,240 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.