Lam Research (NASDAQ:LRCX) Given New $950.00 Price Target at JPMorgan Chase & Co.

Lam Research (NASDAQ:LRCX) had its target price upped by analysts at JPMorgan Chase & Co. from $900.00 to $950.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 2.66% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $1,030.00 target price on shares of Lam Research in a report on Thursday. Mizuho increased their target price on shares of Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft initiated 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 for the company. Susquehanna dropped their target price on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Stifel Nicolaus increased their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Trading Up 2.7 %

Shares of Lam Research stock opened at $925.37 on Thursday. The company has a market capitalization of $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.20 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39. The firm’s 50-day moving average price is $943.67 and its two-hundred day moving average price is $809.10.

Lam Research (NASDAQ:LRCX) last announced 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. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $6.99 earnings per share. On average, analysts forecast that Lam Research will post 29.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were 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 of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’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 $857,330.46. Following the sale, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Lam Research

Several large investors have recently modified their holdings of LRCX. Exchange Traded Concepts LLC grew its position in shares of Lam Research by 28.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,458 shares of the semiconductor company’s stock worth $1,541,000 after buying an additional 549 shares during the period. Strategic Blueprint LLC grew its position in Lam Research by 18.2% in the 3rd quarter. Strategic Blueprint LLC now owns 1,137 shares of the semiconductor company’s stock valued at $713,000 after purchasing an additional 175 shares during the period. Oak Thistle LLC grew its position in Lam Research by 14.5% in the 3rd quarter. Oak Thistle LLC now owns 530 shares of the semiconductor company’s stock valued at $332,000 after purchasing an additional 67 shares during the period. Czech National Bank grew its position in Lam Research by 46.5% in the 3rd quarter. Czech National Bank now owns 23,297 shares of the semiconductor company’s stock valued at $14,602,000 after purchasing an additional 7,393 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in Lam Research by 2.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 62,610 shares of the semiconductor company’s stock valued at $39,242,000 after purchasing an additional 1,217 shares during the period. Institutional investors and hedge funds 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.