Lam Research Corporation (NASDAQ:LRCX)‘s stock had its “overweight” rating reiterated by equities researchers at Morgan Stanley in a research report issued to clients and investors on Monday. They presently have a $176.00 target price on the semiconductor company’s stock. Morgan Stanley’s target price points to a potential upside of 11.01% from the stock’s current price.

LRCX has been the topic of a number of other reports. Berenberg Bank reaffirmed a “buy” rating on shares of Lam Research Corporation in a research note on Sunday, July 30th. Goldman Sachs Group, Inc. (The) cut Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and raised their target price for the stock from $153.00 to $160.00 in a research note on Monday, May 8th. They noted that the move was a valuation call. UBS AG reissued a “buy” rating and issued a $180.00 target price (up from $158.00) on shares of Lam Research Corporation in a research note on Wednesday, May 17th. B. Riley reissued a “buy” rating and issued a $175.00 target price on shares of Lam Research Corporation in a research note on Wednesday, April 19th. Finally, Deutsche Bank AG raised their target price on Lam Research Corporation from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, May 30th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Lam Research Corporation has a consensus rating of “Buy” and a consensus price target of $175.18.

Lam Research Corporation (LRCX) traded up 2.78% during midday trading on Monday, hitting $158.55. The company’s stock had a trading volume of 2,127,200 shares. Lam Research Corporation has a 52-week low of $89.50 and a 52-week high of $170.00. The company has a market cap of $25.64 billion, a PE ratio of 17.16 and a beta of 1.46. The stock has a 50 day moving average of $154.26 and a 200 day moving average of $140.02.

Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $1.80 earnings per share. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. On average, equities analysts expect that Lam Research Corporation will post $12.71 EPS for the current year.

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In related news, Director Stephen G. Newberry sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $162.75, for a total value of $244,125.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick J. Lord sold 2,770 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $155.35, for a total transaction of $430,319.50. The disclosure for this sale can be found here. Insiders have sold 51,656 shares of company stock valued at $7,925,366 over the last quarter. Company insiders own 0.46% of the company’s stock.

A number of institutional investors have recently made changes to their positions in LRCX. Vanguard Group Inc. raised its position in shares of Lam Research Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 16,162,079 shares of the semiconductor company’s stock worth $2,285,802,000 after buying an additional 411,951 shares during the last quarter. State Street Corp raised its position in shares of Lam Research Corporation by 4.6% in the first quarter. State Street Corp now owns 7,112,786 shares of the semiconductor company’s stock worth $912,994,000 after buying an additional 313,082 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Lam Research Corporation by 23,238.8% in the second quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock worth $670,756,000 after buying an additional 4,722,348 shares during the last quarter. Janus Capital Management LLC raised its position in shares of Lam Research Corporation by 13.7% in the first quarter. Janus Capital Management LLC now owns 3,608,710 shares of the semiconductor company’s stock worth $463,214,000 after buying an additional 433,555 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Lam Research Corporation by 22.9% in the first quarter. LSV Asset Management now owns 2,408,170 shares of the semiconductor company’s stock worth $309,112,000 after buying an additional 449,402 shares during the last quarter. Institutional investors own 98.98% of the company’s stock.

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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