Lam Research (NASDAQ:LRCX) Upgraded by StockNews.com to Buy

Lam Research (NASDAQ:LRCX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft reduced their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company reduced their target price on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a report on Thursday. TD Cowen lifted their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Mizuho reduced their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Raymond James boosted their price target on Lam Research from $95.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $141.28.

Lam Research Stock Up 0.5 %

NASDAQ:LRCX opened at $81.54 on Thursday. Lam Research has a 12-month low of $57.44 and a 12-month high of $113.00. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $10.66 billion, a P/E ratio of 3.00, a P/E/G ratio of 1.51 and a beta of 1.47. The stock’s fifty day simple moving average is $95.29 and its 200-day simple moving average is $96.72.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. Equities research analysts expect that Lam Research will post 35.2 earnings per share for the current year.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Neil J. Fernandes sold 16,200 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $105.70, for a total value of $1,712,323.80. Following the transaction, the senior vice president now directly owns 52,370 shares in the company, valued at approximately $5,535,456.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lam Research

Institutional investors have recently bought and sold shares of the business. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research during the second quarter worth approximately $32,000. RFP Financial Group LLC grew its position in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the last quarter. Raleigh Capital Management Inc. grew its position in shares of Lam Research by 78.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 22 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research in the second quarter valued at approximately $40,000. Finally, Country Trust Bank acquired a new position in shares of Lam Research in the second quarter valued at approximately $43,000. 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.