Lam Research (NASDAQ:LRCX) Given New $950.00 Price Target at JPMorgan Chase & Co.

Lam Research (NASDAQ:LRCX) had its price objective lifted by analysts at JPMorgan Chase & Co. from $900.00 to $950.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 4.68% from the company’s previous close.

Other analysts also recently issued reports about the company. Citigroup raised their target price on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Barclays raised their target price on Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Evercore ISI started coverage on Lam Research in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 target price for the company. Stifel Nicolaus raised their target price on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $1,100.00 price objective on shares of Lam Research in a research report on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $946.35.

Lam Research Price Performance

LRCX stock traded up $22.60 during midday trading on Thursday, reaching $907.49. The stock had a trading volume of 629,272 shares, compared to its average volume of 1,062,697. The company’s fifty day simple moving average is $943.93 and its 200 day simple moving average is $806.38. 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 cap of $118.97 billion, a price-to-earnings ratio of 34.97, a price-to-earnings-growth ratio of 3.21 and a beta of 1.51. Lam Research has a 52-week low of $493.42 and a 52-week high of $1,007.39.

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

Insider Buying and Selling

In related news, CAO Christina Corrreia sold 647 shares of the business’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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the business’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 $857,330.46. Following the completion of the sale, the director now owns 10,541 shares in the company, valued at $10,246,168.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Christina Corrreia sold 647 shares of the business’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 of the company’s stock, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders sold a total of 7,029 shares of company stock worth $6,559,489 over the last 90 days. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Lam Research

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC increased its holdings in shares of Lam Research by 18.7% in the first quarter. Aaron Wealth Advisors LLC now owns 661 shares of the semiconductor company’s stock valued at $642,000 after purchasing an additional 104 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Lam Research by 1.3% in the first quarter. Valeo Financial Advisors LLC now owns 1,295 shares of the semiconductor company’s stock valued at $1,146,000 after purchasing an additional 17 shares during the period. Whalen Wealth Management Inc. acquired a new position in shares of Lam Research in the first quarter valued at approximately $292,000. Albert D Mason Inc. grew its holdings in Lam Research by 1.1% during the first quarter. Albert D Mason Inc. now owns 1,400 shares of the semiconductor company’s stock worth $1,360,000 after acquiring an additional 15 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Lam Research by 53.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,193 shares of the semiconductor company’s stock worth $16,704,000 after acquiring an additional 6,011 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.