Lam Research (NASDAQ:LRCX) Upgraded to “Buy” at B. Riley

Lam Research (NASDAQ:LRCX) was upgraded by equities research analysts at B. Riley from a “neutral” rating to a “buy” rating in a research note issued on Friday, Marketbeat reports. The brokerage presently has a $1,100.00 target price on the semiconductor company’s stock, up from their prior target price of $870.00. B. Riley’s target price points to a potential upside of 23.75% from the company’s current price.

Several other brokerages have also recently weighed in on LRCX. Cantor Fitzgerald boosted their price objective on Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company increased their target price on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Lam Research in a research note on Thursday, April 11th. They set a “hold” rating and a $1,000.00 target price for the company. TD Cowen raised their price target on shares of Lam Research from $710.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group raised their target price on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $899.64.

Lam Research Stock Down 2.6 %

Shares of NASDAQ:LRCX opened at $888.92 on Friday. Lam Research has a 52 week low of $482.74 and a 52 week high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The company’s fifty day moving average is $946.27 and its 200-day moving average is $798.17. The company has a market capitalization of $116.54 billion, a PE ratio of 34.37, a P/E/G ratio of 3.30 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.71 EPS. Equities research analysts predict that Lam Research will post 28.9 earnings per share for the current fiscal year.

Insider Transactions at Lam Research

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,029 shares of company stock worth $6,559,489. Insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Institutional investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC acquired a new position in Lam Research in the third quarter valued at approximately $25,000. Hobbs Group Advisors LLC acquired a new position in Lam Research in the fourth quarter valued at approximately $27,000. BluePath Capital Management LLC acquired a new position in Lam Research in the third quarter valued at approximately $28,000. DSM Capital Partners LLC acquired a new position in Lam Research in the fourth quarter valued at approximately $28,000. Finally, OFI Invest Asset Management acquired a new position in Lam Research in the third quarter valued at approximately $30,000. 84.61% of the stock is currently owned by institutional investors.

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.