Lam Research (NASDAQ:LRCX) Price Target Raised to $100.00

Lam Research (NASDAQ:LRCX) had its price objective raised by stock analysts at Jefferies Financial Group from $95.00 to $100.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 33.67% from the company’s previous close.

Other analysts also recently issued reports about the company. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Barclays dropped their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Oppenheimer started coverage on shares of Lam Research in a research note on Thursday, March 20th. They issued an “outperform” rating and a $95.00 target price for the company. Morgan Stanley raised their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, The Goldman Sachs Group reduced their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.59.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $74.81 on Friday. Lam Research has a twelve month low of $68.87 and a twelve month high of $113.00. The stock’s 50 day moving average is $79.66 and its 200-day moving average is $77.32. 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 market capitalization of $96.03 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Sell-side analysts forecast that Lam Research will post 3.71 EPS for the current fiscal year.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lam Research

A number of large investors have recently modified their holdings of LRCX. Parisi Gray Wealth Management raised its stake in shares of Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after acquiring an additional 7,241 shares in the last quarter. Burns J W & Co. Inc. NY bought a new position in shares of Lam Research during the 4th quarter valued at $815,000. Centerpoint Advisors LLC lifted its stake in Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 900 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its position in Lam Research by 51.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after buying an additional 73,648 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in shares of Lam Research by 4,085.9% during the third quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock valued at $10,932,000 after buying an additional 13,075 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

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.