Lam Research Corporation (NASDAQ:LRCX)‘s stock had its “buy” rating restated by stock analysts at B. Riley in a research report issued on Tuesday. They currently have a $220.00 price target on the semiconductor company’s stock. B. Riley’s price objective suggests a potential upside of 38.76% from the stock’s previous close.

Several other analysts also recently commented on LRCX. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $145.00 price objective (up previously from $140.00) on shares of Lam Research Corporation in a research report on Tuesday, April 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $129.00 price objective on shares of Lam Research Corporation in a research report on Wednesday, April 19th. Deutsche Bank AG raised their price objective on shares of Lam Research Corporation from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $165.00 price objective (up previously from $145.00) on shares of Lam Research Corporation in a research report on Saturday, April 22nd. Finally, Pacific Crest reaffirmed an “overweight” rating and set a $180.00 price objective (up previously from $163.00) on shares of Lam Research Corporation in a research report on Saturday, April 22nd. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $175.18.

Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 1.10% on Tuesday, reaching $160.30. 837,102 shares of the company’s stock were exchanged. Lam Research Corporation has a 52-week low of $89.50 and a 52-week high of $170.00. The company’s 50 day moving average price is $154.26 and its 200-day moving average price is $140.02. The stock has a market cap of $25.92 billion, a P/E ratio of 17.35 and a beta of 1.46.

Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.09. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.95%. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.80 EPS. Equities analysts forecast that Lam Research Corporation will post $12.71 EPS for the current fiscal year.

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In other news, COO Timothy Archer sold 6,897 shares of Lam Research Corporation stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total value of $120,375.00. The disclosure for this sale can be found here. Insiders have sold a total of 51,656 shares of company stock worth $7,925,366 over the last quarter. Company insiders own 0.46% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new stake in Lam Research Corporation during the second quarter worth approximately $3,981,000. AmericaFirst Quantitative Trust AmericaFirst Defensive Growth & Income Portfolio Series 2 acquired a new stake in Lam Research Corporation during the second quarter worth approximately $472,000. Cypress Capital Management LLC boosted its stake in Lam Research Corporation by 41.6% in the second quarter. Cypress Capital Management LLC now owns 6,028 shares of the semiconductor company’s stock worth $853,000 after buying an additional 1,770 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Lam Research Corporation by 45.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,480 shares of the semiconductor company’s stock worth $1,059,000 after buying an additional 2,345 shares during the last quarter. Finally, 361 Capital LLC boosted its stake in Lam Research Corporation by 55.6% in the second quarter. 361 Capital LLC now owns 30,606 shares of the semiconductor company’s stock worth $4,329,000 after buying an additional 10,938 shares during the last quarter. Institutional investors own 98.98% of the company’s stock.

Lam Research Corporation Company Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

Analyst Recommendations for Lam Research Corporation (NASDAQ:LRCX)

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