UBS Group Boosts Lam Research (NASDAQ:LRCX) Price Target to $1,150.00

Lam Research (NASDAQ:LRCX) had its price target upped by research analysts at UBS Group from $1,130.00 to $1,150.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. UBS Group’s target price would indicate a potential upside of 24.27% from the company’s previous close.

Other analysts also recently issued reports about the stock. B. Riley raised shares of Lam Research from a “neutral” rating to a “buy” rating and boosted their target price for the company from $870.00 to $1,100.00 in a research note on Friday, April 19th. Raymond James increased their price objective on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Stifel Nicolaus lifted their target price on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Barclays raised their price target on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Finally, Citigroup upped their price objective on shares of Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Trading Up 2.7 %

Shares of LRCX stock opened at $925.37 on Thursday. Lam Research has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The stock has a 50-day simple moving average of $943.67 and a 200 day simple moving average of $809.10. The stock has a market capitalization of $121.32 billion, a P/E ratio of 34.03, a P/E/G ratio of 3.20 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company posted $6.99 EPS. On average, sell-side analysts expect that Lam Research will post 29.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lam Research news, CAO Christina Corrreia sold 647 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 $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following 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 is accessible through this link. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’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 $857,330.46. Following the completion of the sale, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lam Research

Several hedge funds and other institutional investors have recently modified their holdings of LRCX. Vanguard Group Inc. boosted its holdings in Lam Research by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company’s stock valued at $9,173,343,000 after purchasing an additional 79,581 shares during the period. Fisher Asset Management LLC raised its position in shares of Lam Research by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after buying an additional 86,721 shares during the last quarter. Morgan Stanley lifted its stake in shares of Lam Research by 3.2% in the third quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after buying an additional 56,824 shares during the period. Norges Bank bought a new position in Lam Research during the fourth quarter valued at about $1,414,111,000. Finally, Bank of New York Mellon Corp raised its holdings in Lam Research by 10.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after acquiring an additional 159,815 shares in the last quarter. Institutional investors and hedge funds 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.