Lam Research Corporation’s (LRCX) Buy Rating Reiterated at Berenberg Bank
Lam Research Corporation (NASDAQ:LRCX)‘s stock had its “buy” rating reissued by equities research analysts at Berenberg Bank in a report issued on Thursday. They presently have a $240.00 price objective on the semiconductor company’s stock. Berenberg Bank’s price objective would indicate a potential upside of 19.71% from the stock’s current price.
Several other analysts also recently commented on the stock. Needham & Company LLC raised their target price on shares of Lam Research Corporation from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup Inc. raised their target price on shares of Lam Research Corporation from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday. J P Morgan Chase & Co restated a “buy” rating and set a $230.00 target price on shares of Lam Research Corporation in a report on Wednesday. Stifel Nicolaus raised their target price on shares of Lam Research Corporation from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley raised their target price on shares of Lam Research Corporation from $176.00 to $213.00 and gave the stock an “overweight” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Lam Research Corporation currently has an average rating of “Buy” and an average price target of $202.81.
Shares of Lam Research Corporation (LRCX) opened at 200.49 on Thursday. Lam Research Corporation has a 12-month low of $93.69 and a 12-month high of $200.91. The firm has a market cap of $32.57 billion, a price-to-earnings ratio of 21.70 and a beta of 1.53. The stock’s 50 day moving average is $177.88 and its 200-day moving average is $157.58.
Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.82%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the firm earned $1.81 EPS. Lam Research Corporation’s quarterly revenue was up 51.8% compared to the same quarter last year. On average, analysts anticipate that Lam Research Corporation will post $12.92 EPS for the current fiscal year.
In related news, COO Timothy Archer sold 8,691 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $171.76, for a total value of $1,492,766.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $195.09, for a total transaction of $146,317.50. The disclosure for this sale can be found here. Insiders sold 40,419 shares of company stock valued at $7,167,497 over the last three months. 0.41% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in LRCX. Odey Holdings AG grew its stake in shares of Lam Research Corporation by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 73 shares in the last quarter. BDO Wealth Advisors LLC bought a new position in shares of Lam Research Corporation in the second quarter valued at $118,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Lam Research Corporation during the second quarter worth $134,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Lam Research Corporation by 358.3% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 860 shares during the period. Finally, Sun Life Financial INC boosted its position in Lam Research Corporation by 10,672.7% during the second quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’s stock worth $168,000 after purchasing an additional 1,174 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.
About Lam Research Corporation
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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