Lam Research (NASDAQ:LRCX) Stock Rating Reaffirmed by Cantor Fitzgerald

Lam Research (NASDAQ:LRCX)‘s stock had its “neutral” rating reiterated by equities researchers at Cantor Fitzgerald in a note issued to investors on Thursday, Benzinga reports. They presently have a $100.00 price target on the semiconductor company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 28.73% from the stock’s current price.

Several other brokerages have also recently issued reports on LRCX. Wells Fargo & Company cut their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Morgan Stanley reduced their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday. Finally, B. Riley reduced their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Lam Research Trading Up 1.4 %

Shares of LRCX opened at $77.68 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research has a fifty-two week low of $57.44 and a fifty-two week high of $113.00. The firm has a 50 day moving average price of $79.44 and a 200-day moving average price of $89.84. The firm has a market cap of $100.68 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.89 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the business posted $6.85 earnings per share. The company’s revenue was up 19.7% on a year-over-year basis. As a group, equities research analysts forecast that Lam Research will post 3.23 earnings per share for the current year.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after purchasing an additional 89,470 shares in the last quarter. Van ECK Associates Corp raised its holdings in Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock worth $1,145,664,000 after purchasing an additional 107,778 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Lam Research by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after purchasing an additional 25,362 shares during the period. 84.61% of the stock is currently owned by 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.