Lam Research (NASDAQ:LRCX) PT Raised to $865.00

Lam Research (NASDAQ:LRCX) had its price objective boosted by stock analysts at Barclays from $825.00 to $865.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price objective points to a potential downside of 6.52% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Susquehanna cut their target price on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research report on Thursday. Stifel Nicolaus boosted their target price on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft initiated coverage on Lam Research in a research report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Citigroup upped their price objective on Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Stock Performance

NASDAQ:LRCX opened at $925.37 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 2.02. Lam Research has a 1 year low of $493.42 and a 1 year high of $1,007.39. The stock’s 50 day simple moving average is $943.67 and its two-hundred day simple moving average is $809.10. The company has a market cap of $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.20 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company posted $6.99 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts anticipate that Lam Research will post 29.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Lam Research

A number of hedge funds have recently made changes to their positions in the stock. Orion Capital Management LLC purchased a new stake in Lam Research in the third quarter valued at about $25,000. BluePath Capital Management LLC purchased a new stake in Lam Research in the third quarter valued at about $28,000. DSM Capital Partners LLC purchased a new stake in Lam Research in the fourth quarter valued at about $28,000. OFI Invest Asset Management purchased a new stake in Lam Research in the third quarter valued at about $30,000. Finally, Asset Dedication LLC raised its stake in Lam Research by 56.7% in the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 17 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Company Profile

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.