Lam Research (NASDAQ:LRCX) PT Raised to $1,025.00 at Citigroup

Lam Research (NASDAQ:LRCX) had its target price raised by equities research analysts at Citigroup from $975.00 to $1,025.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price objective would suggest a potential upside of 10.77% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday. Barclays lifted their price target on shares of Lam Research from $825.00 to $865.00 and gave the company an “equal weight” rating in a report on Thursday. Evercore ISI started coverage on shares of Lam Research in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lam Research in a report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price target on the stock. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $950.85.

Lam Research Stock Up 2.7 %

Shares of NASDAQ LRCX opened at $925.37 on Thursday. Lam Research has a 1 year low of $493.42 and a 1 year high of $1,007.39. The firm’s 50 day moving average price is $943.67 and its 200 day moving average price is $809.10. The firm has a market cap of $121.32 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 3.20 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.02 and a current ratio of 2.82.

Lam Research (NASDAQ:LRCX) last announced its earnings results 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 net margin of 25.35% and a return on equity of 45.96%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the business earned $6.99 earnings per share. Lam Research’s revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lam Research will post 29.46 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Lam Research

Several hedge funds and other institutional investors have recently modified their holdings of the stock. LifeSteps Financial Inc. bought a new stake in shares of Lam Research in the 1st quarter worth about $203,000. Mesirow Financial Investment Management Inc. bought a new stake in shares of Lam Research in the 1st quarter worth about $206,000. MONECO Advisors LLC bought a new stake in shares of Lam Research in the 1st quarter worth about $220,000. Terra Nova Asset Management LLC boosted its holdings in shares of Lam Research by 2.9% in the 1st quarter. Terra Nova Asset Management LLC now owns 4,538 shares of the semiconductor company’s stock valued at $4,409,000 after buying an additional 128 shares during the period. Finally, Meridian Wealth Management LLC boosted its holdings in shares of Lam Research by 1.9% in the 1st quarter. Meridian Wealth Management LLC now owns 907 shares of the semiconductor company’s stock valued at $881,000 after buying an additional 17 shares during the period. Institutional investors own 84.61% of the company’s stock.

About Lam Research

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.