Lam Research Corporation (NASDAQ:LRCX)‘s stock had its “outperform” rating reiterated by KeyCorp in a note issued to investors on Saturday. They currently have a $202.00 price objective on the semiconductor company’s stock. KeyCorp’s price objective suggests a potential upside of 16.77% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. UBS AG restated a “buy” rating and set a $190.00 target price (up previously from $180.00) on shares of Lam Research Corporation in a research note on Monday, June 5th. Cowen and Company restated an “outperform” rating and set a $185.00 target price (up previously from $150.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. B. Riley restated a “buy” rating and set a $220.00 target price on shares of Lam Research Corporation in a research note on Thursday, July 27th. Argus began coverage on Lam Research Corporation in a research note on Tuesday. They set a “buy” rating and a $196.00 target price for the company. Finally, Needham & Company LLC boosted their target price on Lam Research Corporation from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Lam Research Corporation presently has an average rating of “Buy” and a consensus price target of $177.68.

Lam Research Corporation (NASDAQ LRCX) opened at 172.99 on Friday. Lam Research Corporation has a 12-month low of $90.56 and a 12-month high of $174.37. The firm has a market cap of $28.10 billion, a P/E ratio of 18.72 and a beta of 1.47. The stock’s 50 day moving average is $161.26 and its 200 day moving average is $147.54.

Lam Research Corporation (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.09. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The firm’s revenue was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.80 earnings per share. On average, equities research analysts expect that Lam Research Corporation will post $12.75 EPS for the current year.

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In other news, COO Timothy Archer sold 8,691 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total value of $1,492,766.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total value of $116,557.50. The disclosure for this sale can be found here. In the last three months, insiders sold 29,338 shares of company stock worth $4,717,492. Corporate insiders own 0.46% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Lam Research Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 16,162,079 shares of the semiconductor company’s stock valued at $2,285,802,000 after purchasing an additional 411,951 shares during the period. State Street Corp grew its holdings in Lam Research Corporation by 4.6% during the first quarter. State Street Corp now owns 7,112,786 shares of the semiconductor company’s stock worth $912,994,000 after acquiring an additional 313,082 shares during the period. Janus Henderson Group PLC grew its holdings in Lam Research Corporation by 23,238.8% during the second quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock worth $670,756,000 after acquiring an additional 4,722,348 shares during the period. Janus Capital Management LLC grew its holdings in Lam Research Corporation by 13.7% during the first quarter. Janus Capital Management LLC now owns 3,608,710 shares of the semiconductor company’s stock worth $463,214,000 after acquiring an additional 433,555 shares during the period. Finally, TIAA CREF Investment Management LLC grew its holdings in Lam Research Corporation by 3.6% during the first quarter. TIAA CREF Investment Management LLC now owns 2,373,238 shares of the semiconductor company’s stock worth $304,629,000 after acquiring an additional 82,974 shares during the period. 94.10% of the stock is currently owned by institutional investors and hedge funds.

About Lam Research Corporation

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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