Lam Research (NASDAQ:LRCX) Rating Increased to Buy at B. Riley

Lam Research (NASDAQ:LRCX) was upgraded by equities researchers at B. Riley from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat.com reports. The firm presently has a $1,100.00 price objective on the semiconductor company’s stock, up from their prior price objective of $870.00. B. Riley’s price objective would indicate a potential upside of 26.40% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price on the stock. UBS Group lifted their target price on Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Citigroup increased their price target on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Mizuho increased their target price on shares of Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company increased their price objective on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $931.85.

Lam Research Stock Down 2.1 %

Shares of LRCX opened at $870.25 on Friday. The stock’s 50-day moving average price is $945.44 and its two-hundred day moving average price is $801.10. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $114.09 billion, a PE ratio of 33.65, a PEG ratio of 3.22 and a beta of 1.51. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.71 EPS. On average, analysts anticipate that Lam Research will post 28.92 EPS for the current year.

Insider Buying and Selling

In other news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the company’s 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 $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,029 shares of company stock valued at $6,559,489. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Orion Capital Management LLC bought a new stake in shares of Lam Research during the 3rd quarter worth $25,000. Hobbs Group Advisors LLC bought a new position in shares of Lam Research during the 4th quarter valued at about $27,000. BluePath Capital Management LLC purchased a new position in shares of Lam Research during the 3rd quarter valued at about $28,000. DSM Capital Partners LLC bought a new stake in Lam Research in the 4th quarter worth approximately $28,000. Finally, OFI Invest Asset Management purchased a new stake in Lam Research in the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.