Lam Research (NASDAQ:LRCX) Given “Buy” Rating at Needham & Company LLC

Lam Research (NASDAQ:LRCX)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $1,030.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price target points to a potential upside of 11.31% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Mizuho boosted their price objective on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Wells Fargo & Company raised their price objective on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Evercore ISI started coverage on Lam Research in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 target price for the company. Cantor Fitzgerald raised their price target on Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus lifted their price target on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Trading Up 2.7 %

Shares of LRCX opened at $925.37 on Thursday. Lam Research has a 1-year low of $493.42 and a 1-year high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The firm has a 50 day simple moving average of $943.67 and a 200-day simple moving average of $809.10. The stock has a market cap of $121.32 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 3.20 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 45.76% and a net margin of 25.35%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.99 earnings per share. Equities analysts forecast that Lam Research will post 28.96 EPS for the current fiscal year.

Insider Transactions at Lam Research

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

Institutional Investors Weigh In On Lam Research

Large investors have recently added to or reduced their stakes in the stock. Arlington Trust Co LLC grew its position in shares of Lam Research by 7.7% during the fourth quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 13 shares during the last quarter. Capital Performance Advisors LLP increased its stake in shares of Lam Research by 2.2% in the fourth quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 13 shares during the period. Van Leeuwen & Company LLC raised its holdings in shares of Lam Research by 0.5% during the fourth quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock valued at $2,023,000 after buying an additional 13 shares during the last quarter. Busey Bank boosted its position in shares of Lam Research by 1.5% during the first quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock worth $844,000 after buying an additional 13 shares during the period. Finally, First Affirmative Financial Network grew its holdings in Lam Research by 2.5% in the 1st quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock worth $510,000 after buying an additional 13 shares in the last quarter. 84.61% 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.