Lam Research (NASDAQ:LRCX) Given New $1,000.00 Price Target at TD Cowen

Lam Research (NASDAQ:LRCX) had its target price hoisted by equities researchers at TD Cowen from $975.00 to $1,000.00 in a report issued on Thursday, MarketBeat reports. The firm presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price objective would suggest a potential upside of 8.06% from the stock’s previous close.

LRCX has been the topic of a number of other reports. Stifel Nicolaus boosted their target price on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Cantor Fitzgerald boosted their price objective 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. Mizuho raised their target price on shares of Lam Research from $900.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, January 25th. The Goldman Sachs Group lifted their target price on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Needham & Company LLC increased their price target on shares of Lam Research from $900.00 to $1,030.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Six 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 Stock Performance

Shares of LRCX opened at $925.37 on Thursday. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. Lam Research has a 52-week low of $493.42 and a 52-week high of $1,007.39. The company has a 50-day simple moving average of $943.67 and a 200-day simple moving average of $809.10. The company has a market capitalization of $121.32 billion, a PE ratio of 34.03, a P/E/G ratio of 3.20 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating 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 net margin of 25.35% and a return on equity of 45.76%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $6.99 earnings per share. Equities research analysts predict that Lam Research will post 28.96 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The stock was 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 $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the stock in a transaction that occurred 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 owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock valued at $6,559,489 over the last quarter. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Lam Research during the 4th quarter worth approximately $1,414,111,000. International Assets Investment Management LLC increased its position in shares of Lam Research by 76,165.7% in the fourth quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock worth $249,099,000 after acquiring an additional 317,611 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Lam Research by 1,125.6% in the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after acquiring an additional 314,224 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Lam Research by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after acquiring an additional 159,815 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Lam Research by 106.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock worth $188,702,000 after purchasing an additional 155,240 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.