Lam Research Corporation (NASDAQ:LRCX) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, August 3rd.
Other equities analysts have also issued reports about the stock. Needham & Company LLC restated a “buy” rating and set a $165.00 target price (up from $145.00) on shares of Lam Research Corporation in a research report on Saturday, April 22nd. Deutsche Bank AG raised their target price 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. Citigroup Inc. restated a “buy” rating and set a $200.00 target price on shares of Lam Research Corporation in a research report on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) lowered shares of Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and raised their target price for the stock from $153.00 to $160.00 in a research report on Monday, May 8th. They noted that the move was a valuation call. Finally, B. Riley reaffirmed a “buy” rating and set a $175.00 price target on shares of Lam Research Corporation in a report on Monday, April 24th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lam Research Corporation presently has a consensus rating of “Buy” and a consensus price target of $172.41.
Shares of Lam Research Corporation (NASDAQ LRCX) traded up 3.23% on Thursday, reaching $154.26. 1,790,856 shares of the company were exchanged. The firm’s 50 day moving average price is $154.07 and its 200 day moving average price is $139.36. Lam Research Corporation has a 52 week low of $88.51 and a 52 week high of $170.00. The stock has a market capitalization of $24.95 billion, a price-to-earnings ratio of 16.69 and a beta of 1.46.
Lam Research Corporation (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.09. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates 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 period last year, the firm posted $1.80 earnings per share. Equities research analysts anticipate that Lam Research Corporation will post $12.71 EPS for the current year.
In related news, Director Stephen G. Newberry sold 20,047 shares of Lam Research Corporation stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $150.01, for a total transaction of $3,007,250.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Timothy Archer sold 6,897 shares of Lam Research Corporation stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total value of $1,106,968.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,656 shares of company stock valued at $7,925,366. 0.46% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Main Street Research LLC boosted its stake in Lam Research Corporation by 3.6% in the second quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock worth $13,856,000 after buying an additional 3,367 shares in the last quarter. Van ECK Associates Corp boosted its stake in Lam Research Corporation by 81.0% in the first quarter. Van ECK Associates Corp now owns 239,488 shares of the semiconductor company’s stock worth $30,741,000 after buying an additional 107,149 shares in the last quarter. Highland Capital Management LLC bought a new stake in Lam Research Corporation during the second quarter worth approximately $578,000. Soros Fund Management LLC bought a new stake in Lam Research Corporation during the first quarter worth approximately $71,978,000. Finally, Rafferty Asset Management LLC boosted its stake in Lam Research Corporation by 21.9% in the first quarter. Rafferty Asset Management LLC now owns 46,035 shares of the semiconductor company’s stock worth $5,909,000 after buying an additional 8,255 shares in the last quarter. Hedge funds and other institutional investors own 98.98% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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