Stifel Nicolaus Reaffirms “Buy” Rating for Lam Research (NASDAQ:LRCX)

Lam Research (NASDAQ:LRCX)‘s stock had its “buy” rating restated by Stifel Nicolaus in a report released on Thursday, Benzinga reports. They presently have a $100.00 target price on the semiconductor company’s stock, down from their prior target price of $105.00. Stifel Nicolaus’ target price indicates a potential upside of 28.73% from the company’s current price.

Other analysts have also recently issued reports about the company. TD Cowen lifted their price target on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. B. Riley dropped their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup dropped their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. UBS Group dropped their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, Wells Fargo & Company dropped their price target on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Lam Research Stock Performance

LRCX opened at $77.68 on Thursday. Lam Research has a 12-month low of $57.44 and a 12-month high of $113.00. The stock has a market cap of $100.68 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.89 and a beta of 1.47. The business has a 50 day moving average of $79.44 and a 200-day moving average of $89.84. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the firm posted $6.85 earnings per share. The business’s revenue was up 19.7% on a year-over-year basis. On average, equities research analysts expect that Lam Research will post 3.23 earnings per share for the current year.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Hedge funds have recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Lam Research during the 2nd quarter valued at $32,000. RFP Financial Group LLC boosted its holdings in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 12 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research during the 2nd quarter valued at $40,000. Country Trust Bank acquired a new position in Lam Research during the 2nd quarter worth about $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in Lam Research during the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.