Lam Research (NASDAQ:LRCX) Price Target Raised to $900.00

Lam Research (NASDAQ:LRCXGet Free Report) had its price objective boosted by analysts at Barclays from $865.00 to $900.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price target would indicate a potential downside of 6.52% from the stock’s current price.

Other research analysts have also recently issued reports about the company. B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $870.00 to $1,100.00 in a research report on Friday, April 19th. Evercore ISI started coverage on Lam Research in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $1,030.00 target price on shares of Lam Research in a report on Thursday, April 25th. Susquehanna dropped their target price on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $959.62.

View Our Latest Analysis on Lam Research

Lam Research Trading Up 4.3 %

NASDAQ:LRCX traded up $40.03 on Wednesday, reaching $962.76. The company’s stock had a trading volume of 275,191 shares, compared to its average volume of 1,013,523. Lam Research has a 1-year low of $574.42 and a 1-year high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. The firm has a market cap of $125.87 billion, a PE ratio of 35.40, a PEG ratio of 3.23 and a beta of 1.46. The business’s 50-day moving average price is $935.25 and its two-hundred day moving average price is $867.48.

Shares of Lam Research are scheduled to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCXGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. Lam Research’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.99 earnings per share. Equities research analysts anticipate that Lam Research will post 29.67 earnings per share for the current fiscal year.

Lam Research announced that its Board of Directors has initiated a share buyback program on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the sale, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider George M. Schisler sold 400 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $908.21, for a total value of $363,284.00. Following the completion of the sale, the insider now directly owns 5,661 shares in the company, valued at approximately $5,141,376.81. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock valued at $6,978,065 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LRCX. Arlington Trust Co LLC grew its stake in shares of Lam Research by 7.7% in the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock valued at $143,000 after buying an additional 13 shares during the period. Capital Performance Advisors LLP boosted its stake in Lam Research by 2.2% during the 4th quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 13 shares during the last quarter. Van Leeuwen & Company LLC boosted its stake in Lam Research by 0.5% during the 4th quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock valued at $2,023,000 after purchasing an additional 13 shares during the last quarter. Busey Bank boosted its stake in Lam Research by 1.5% during the 1st quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock valued at $844,000 after purchasing an additional 13 shares during the last quarter. Finally, First Affirmative Financial Network boosted its stake in Lam Research by 2.5% during the 1st quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock valued at $510,000 after purchasing an additional 13 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

About Lam Research

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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