Lam Research (NASDAQ:LRCX) Rating Reiterated by Cantor Fitzgerald

Lam Research (NASDAQ:LRCX)‘s stock had its “neutral” rating restated by Cantor Fitzgerald in a research report issued on Thursday, Benzinga reports. They presently have a $1,100.00 price target on the semiconductor company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 18.87% from the company’s previous close. Cantor Fitzgerald also issued estimates for Lam Research’s FY2024 earnings at $29.66 EPS.

A number of other research firms also recently commented on LRCX. Susquehanna reduced their target price on Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a report on Thursday. TD Cowen raised their target price on Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday. UBS Group lifted their price target on Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. The Goldman Sachs Group lifted their price target on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Lam Research in a research note on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price target for the company. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $950.85.

Lam Research Price Performance

Shares of NASDAQ 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 stock has a fifty day moving average price of $943.67 and a 200 day moving average price of $809.10. The company has a market cap 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 released its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.76% and a net margin of 25.35%. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company earned $6.99 earnings per share. Lam Research’s quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts forecast that Lam Research will post 28.96 EPS for the current year.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research 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 sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research 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 transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 value of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders sold 7,029 shares of company stock worth $6,559,489 in the last 90 days. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lam Research

Several hedge funds and other institutional investors have recently modified their holdings of LRCX. Orion Capital Management LLC acquired a new position in shares of Lam Research in the 3rd quarter valued at about $25,000. BluePath Capital Management LLC acquired a new position in Lam Research during the 3rd quarter worth approximately $28,000. DSM Capital Partners LLC acquired a new position in Lam Research during the 4th quarter worth approximately $28,000. OFI Invest Asset Management acquired a new position in Lam Research during the 3rd quarter worth approximately $30,000. Finally, Asset Dedication LLC lifted its position in Lam Research by 56.7% during the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 17 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.