Lam Research Corporation (NASDAQ:LRCX)‘s stock had its “buy” rating reiterated by equities researchers at Berenberg Bank in a report issued on Thursday. They presently have a $240.00 price objective on the semiconductor company’s stock. Berenberg Bank’s target price would suggest a potential upside of 16.88% from the stock’s current price.

A number of other research firms have also recently weighed in on LRCX. BidaskClub upgraded shares of Lam Research Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Morgan Stanley restated an “overweight” rating and issued a $176.00 price target on shares of Lam Research Corporation in a report on Monday, August 14th. Vetr cut shares of Lam Research Corporation from a “buy” rating to a “hold” rating and set a $196.77 price target on the stock. in a report on Monday, October 16th. DA Davidson restated a “buy” rating and issued a $215.00 price target on shares of Lam Research Corporation in a report on Thursday, October 12th. Finally, Citigroup Inc. raised their price target on shares of Lam Research Corporation from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Lam Research Corporation currently has an average rating of “Buy” and a consensus price target of $209.32.

Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 2.17% on Thursday, hitting $205.34. 3,105,205 shares of the stock traded hands. Lam Research Corporation has a 52-week low of $93.69 and a 52-week high of $206.34. The stock’s 50 day moving average price is $180.03 and its 200 day moving average price is $158.44. The stock has a market cap of $33.29 billion, a P/E ratio of 18.70 and a beta of 1.53.

Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business earned $1.81 EPS. The company’s revenue was up 51.8% compared to the same quarter last year. On average, equities analysts expect that Lam Research Corporation will post $14.53 EPS for the current fiscal year.

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In other Lam Research Corporation news, COO Timothy Archer sold 11,590 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $181.76, for a total transaction of $2,106,598.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The stock was 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. Insiders have sold a total of 40,419 shares of company stock valued at $7,167,497 over the last three months. 0.41% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Lam Research Corporation by 2.6% during the 2nd 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 in the last quarter. State Street Corp increased its holdings in shares of Lam Research Corporation by 4.6% during the 1st quarter. State Street Corp now owns 7,112,786 shares of the semiconductor company’s stock valued at $912,994,000 after purchasing an additional 313,082 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Lam Research Corporation by 23,238.8% during the 2nd quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock valued at $670,756,000 after purchasing an additional 4,722,348 shares in the last quarter. Janus Capital Management LLC increased its holdings in shares of Lam Research Corporation by 13.7% during the 1st quarter. Janus Capital Management LLC now owns 3,608,710 shares of the semiconductor company’s stock valued at $463,214,000 after purchasing an additional 433,555 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Lam Research Corporation by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 1,950,620 shares of the semiconductor company’s stock valued at $275,876,000 after purchasing an additional 141,444 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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