Lam Research Co. (NASDAQ:LRCX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Lam Research Co. (NASDAQ:LRCX) have been given an average recommendation of “Moderate Buy” by the twenty-five analysts that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $91.56.

Several research firms have commented on LRCX. Stifel Nicolaus decreased their price objective on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Bank of America lowered their target price on Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. TD Cowen reduced their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Evercore ISI lifted their price target on Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Finally, Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and upped their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th.

Lam Research Trading Up 0.6%

Shares of LRCX stock opened at $84.29 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $72.68 and a two-hundred day moving average price of $75.59. Lam Research has a 12-month low of $56.32 and a 12-month high of $113.00. The company has a market capitalization of $107.82 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the firm earned $7.79 earnings per share. The business’s quarterly revenue was up 24.4% on a year-over-year basis. As a group, analysts predict that Lam Research will post 3.71 earnings per share for the current year.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% 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 LRCX. Centerpoint Advisors LLC increased its holdings in Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 900 shares during the last quarter. Transform Wealth LLC purchased a new position in shares of Lam Research during the fourth quarter worth approximately $17,269,000. E. Ohman J or Asset Management AB purchased a new position in Lam Research during the 4th quarter worth $4,258,000. Huntington National Bank lifted its holdings in shares of Lam Research by 944.0% in the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock valued at $21,291,000 after buying an additional 266,527 shares during the period. Finally, Trust Co. of Oklahoma increased its stake in Lam Research by 904.2% in the 4th quarter. Trust Co. of Oklahoma now owns 25,778 shares of the semiconductor company’s stock valued at $1,862,000 after purchasing an additional 23,211 shares in the last quarter. 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.