Lam Research (NASDAQ:LRCX) Price Target Raised to $1,030.00 at Needham & Company LLC

Lam Research (NASDAQ:LRCX) had its price target increased by equities researchers at Needham & Company LLC from $900.00 to $1,030.00 in a note issued to investors on Thursday, MarketBeat.com reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price suggests a potential upside of 18.36% from the company’s previous close.

Several other equities analysts have also commented on the stock. TD Cowen upped their price target on shares of Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Cantor Fitzgerald upped their price target on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Evercore ISI initiated coverage on shares of Lam Research in a research report on Tuesday. They set an “outperform” rating and a $1,200.00 price target for the company. Wells Fargo & Company upped their price target on shares of Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Raymond James upped their price target on shares of Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $899.64.

Lam Research Stock Performance

Shares of LRCX opened at $870.25 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The company has a market capitalization of $114.09 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 3.22 and a beta of 1.51. The company’s 50 day simple moving average is $945.44 and its 200 day simple moving average is $799.83. Lam Research has a 1 year low of $493.42 and a 1 year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.46. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.71 earnings per share. On average, sell-side analysts predict that Lam Research will post 28.92 EPS for the current year.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC boosted its stake in Lam Research by 117,180.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock valued at $13,795,180,000 after acquiring an additional 32,794,236 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Lam Research by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company’s stock valued at $9,173,343,000 after buying an additional 79,581 shares during the period. State Street Corp boosted its holdings in shares of Lam Research by 1.7% in the 1st quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company’s stock valued at $3,029,550,000 after buying an additional 92,606 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after buying an additional 86,721 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Lam Research by 0.8% in the 1st quarter. Geode Capital Management LLC now owns 2,542,805 shares of the semiconductor company’s stock valued at $1,345,403,000 after buying an additional 19,280 shares during the period. 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.