Lam Research Corporation (NASDAQ:LRCX) had its price objective boosted by investment analysts at B. Riley from $220.00 to $250.00 in a report issued on Monday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target indicates a potential upside of 28.50% from the company’s previous close.

LRCX has been the topic of several other research reports. DA Davidson reaffirmed a “buy” rating and set a $175.00 price objective on shares of Lam Research Corporation in a report on Wednesday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price objective (up previously from $200.00) on shares of Lam Research Corporation in a report on Friday, October 13th. Credit Suisse Group reaffirmed a “buy” rating on shares of Lam Research Corporation in a report on Tuesday, August 29th. KeyCorp reaffirmed an “overweight” rating on shares of Lam Research Corporation in a report on Thursday, July 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $189.00 price objective (up previously from $170.00) on shares of Lam Research Corporation in a report on Monday, June 19th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $193.59.

Lam Research Corporation (NASDAQ:LRCX) last announced its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 EPS for the quarter, topping the consensus estimate of $3.27 by $0.19. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.46 billion. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. Lam Research Corporation’s revenue was up 51.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 EPS.

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In related news, COO Timothy Archer sold 8,691 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were 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 available at this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $195.09, for a total transaction of $146,317.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,919 shares of company stock worth $7,411,622. 0.41% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. W. E. Donoghue & Co. LLC bought a new stake in Lam Research Corporation in the second quarter valued at $2,095,000. Intl Fcstone Inc. bought a new stake in Lam Research Corporation in the second quarter valued at $242,000. BRILLIANCE ASSET MANAGEMENT Ltd increased its stake in Lam Research Corporation by 58.1% in the second quarter. BRILLIANCE ASSET MANAGEMENT Ltd now owns 133,491 shares of the semiconductor company’s stock valued at $18,880,000 after purchasing an additional 49,060 shares in the last quarter. Navellier & Associates Inc bought a new stake in Lam Research Corporation in the second quarter valued at $2,432,000. Finally, WFG Advisors LP increased its stake in Lam Research Corporation by 21.2% in the second quarter. WFG Advisors LP now owns 2,992 shares of the semiconductor company’s stock valued at $423,000 after purchasing an additional 524 shares in the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

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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