Lam Research (NASDAQ:LRCX) Earns “Neutral” Rating from Cantor Fitzgerald

Lam Research (NASDAQ:LRCX)‘s stock had its “neutral” rating reiterated by research analysts at Cantor Fitzgerald in a research note issued to investors on Thursday, Benzinga reports. They presently have a $1,100.00 price target on the semiconductor company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 21.31% from the company’s previous close.

A number of other research analysts have also weighed in on LRCX. Susquehanna dropped their target price on Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a report on Thursday. Mizuho lifted their price objective on shares of Lam Research from $935.00 to $960.00 and gave the stock a “buy” rating in a report on Thursday. Raymond James increased their target price on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. TD Cowen boosted their price target on shares of Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $1,030.00 price objective on shares of Lam Research in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $932.85.

Lam Research Stock Up 2.5 %

Shares of LRCX traded up $21.89 during trading hours on Thursday, reaching $906.78. The stock had a trading volume of 229,593 shares, compared to its average volume of 1,057,659. The firm has a 50-day simple moving average of $943.93 and a 200 day simple moving average of $806.38. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $118.88 billion, a price-to-earnings ratio of 34.83, a P/E/G ratio of 3.21 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the company earned $6.99 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. Equities research analysts predict that Lam Research will post 28.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’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 transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were 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 in the company, valued at $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock valued at $6,559,489 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Lam Research by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company’s stock valued at $9,173,343,000 after buying an additional 79,581 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Lam Research by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after acquiring an additional 86,721 shares during the period. Morgan Stanley raised its position in Lam Research by 3.2% during the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after purchasing an additional 56,824 shares in the last quarter. Norges Bank bought a new stake in shares of Lam Research in the fourth quarter valued at about $1,414,111,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Lam Research by 10.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock worth $1,029,386,000 after purchasing an additional 159,815 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.