Lam Research (NASDAQ:LRCX) Rating Reiterated by Needham & Company LLC

Lam Research (NASDAQ:LRCX)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $1,030.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s price target indicates a potential upside of 11.31% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. UBS Group raised their price objective on shares of Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Wells Fargo & Company raised their target price on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus increased their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Mizuho raised their price target on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Evercore ISI began coverage on shares of Lam Research in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $950.85.

Lam Research Stock Performance

NASDAQ LRCX opened at $925.37 on Thursday. Lam Research has a 1 year low of $493.42 and a 1 year high of $1,007.39. The firm has a market cap of $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.20 and a beta of 1.51. The company has a fifty day moving average price of $943.67 and a 200-day moving average price of $809.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.76%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the firm posted $6.99 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts predict that Lam Research will post 28.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s 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 $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 over the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Lam Research in the fourth quarter worth about $1,414,111,000. International Assets Investment Management LLC grew its stake in shares of Lam Research by 76,165.7% in the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after buying an additional 317,611 shares in the last quarter. Cerity Partners LLC raised its position in shares of Lam Research by 1,125.6% during the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after buying an additional 314,224 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Lam Research by 106.5% in the third quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock worth $188,702,000 after acquiring an additional 155,240 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Company Profile

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.