Lam Research (NASDAQ:LRCX) Coverage Initiated at Wolfe Research

Equities research analysts at Wolfe Research started coverage on shares of Lam Research (NASDAQ:LRCX) in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $825.00 price target on the semiconductor company’s stock. Wolfe Research’s price target would indicate a potential upside of 32.40% from the stock’s current price.

A number of other research analysts also recently commented on LRCX. Susquehanna boosted their price target on Lam Research from $540.00 to $615.00 in a research note on Thursday, July 27th. Barclays lifted their target price on Lam Research from $575.00 to $600.00 and gave the company an “equal weight” rating in a research report on Thursday, July 27th. Citigroup lifted their target price on Lam Research from $695.00 to $800.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. B. Riley lifted their target price on Lam Research from $500.00 to $650.00 in a research report on Monday, July 17th. Finally, Sanford C. Bernstein lifted their target price on Lam Research from $500.00 to $550.00 in a research report on Thursday, July 27th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $583.50.

Lam Research Stock Down 5.1 %

LRCX stock opened at $623.11 on Thursday. The company has a market cap of $82.57 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 3.97 and a beta of 1.49. The business has a 50-day simple moving average of $667.27 and a 200 day simple moving average of $590.67. Lam Research has a 52 week low of $299.59 and a 52 week high of $726.53. The company has a quick ratio of 2.01, a current ratio of 3.16 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $5.98 EPS for the quarter, beating analysts’ consensus estimates of $5.03 by $0.95. The business had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.13 billion. Lam Research had a return on equity of 57.40% and a net margin of 25.88%. Lam Research’s revenue for the quarter was down 30.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.83 earnings per share. Sell-side analysts anticipate that Lam Research will post 26.82 EPS for the current fiscal year.

Insider Activity at Lam Research

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $642.86, for a total value of $567,002.52. Following the sale, the director now directly owns 12,999 shares in the company, valued at $8,356,537.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $642.86, for a total value of $567,002.52. Following the transaction, the director now directly owns 12,999 shares of the company’s stock, valued at $8,356,537.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas R. Bettinger sold 1,894 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $705.86, for a total value of $1,336,898.84. Following the completion of the transaction, the chief financial officer now directly owns 96,713 shares in the company, valued at $68,265,838.18. The disclosure for this sale can be found here. Insiders have sold 18,159 shares of company stock worth $12,926,580 over the last ninety days. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several institutional investors have recently added to or reduced their stakes in LRCX. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Lam Research by 97,796.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 131,092,612 shares of the semiconductor company’s stock valued at $84,274,197,000 after buying an additional 130,958,702 shares during the period. Moneta Group Investment Advisors LLC raised its position in shares of Lam Research by 117,180.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock worth $13,795,180,000 after purchasing an additional 32,794,236 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Lam Research by 1,018.4% during the first quarter. Envestnet Asset Management Inc. now owns 3,507,601 shares of the semiconductor company’s stock worth $169,077,000 after purchasing an additional 3,193,985 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Lam Research by 507.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,389,485 shares of the semiconductor company’s stock worth $1,424,601,000 after purchasing an additional 2,831,381 shares during the period. Finally, GQG Partners LLC acquired a new position in shares of Lam Research during the first quarter worth approximately $913,330,000. 84.08% of the stock is owned by institutional investors and hedge funds.

About Lam Research

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.