Lam Research (NASDAQ:LRCX) Price Target Raised to $960.00 at Mizuho

Lam Research (NASDAQ:LRCX) had its target price lifted by stock analysts at Mizuho from $935.00 to $960.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Mizuho’s price objective would indicate a potential upside of 8.49% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Stifel Nicolaus upped their price objective 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. UBS Group upped their price objective on Lam Research from $885.00 to $1,130.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a research note on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $1,030.00 price target on shares of Lam Research in a research note on Thursday. Finally, Cantor Fitzgerald increased their price target on Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $932.85.

Lam Research Stock Down 0.3 %

Lam Research stock opened at $884.89 on Thursday. The stock has a fifty day moving average of $943.93 and a 200 day moving average of $806.38. Lam Research has a one year low of $493.42 and a one year 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 stock has a market cap of $116.01 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 3.21 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the company posted $10.71 earnings per share. Lam Research’s revenue for the quarter was down 28.8% on a year-over-year basis. As a group, sell-side analysts predict that Lam Research will post 28.96 EPS for the current year.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 in the last ninety days. 0.32% of the stock is owned by company insiders.

Institutional Trading of Lam Research

Several hedge funds and other institutional investors have recently bought and sold shares of LRCX. Norges Bank bought a new stake in Lam Research during the 4th quarter valued at $1,414,111,000. International Assets Investment Management LLC boosted its position in Lam Research by 76,165.7% during the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company’s stock valued at $249,099,000 after acquiring an additional 317,611 shares in the last quarter. Cerity Partners LLC boosted its position in Lam Research by 1,125.6% during the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company’s stock valued at $267,984,000 after acquiring an additional 314,224 shares in the last quarter. Bank of New York Mellon Corp boosted 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 in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Lam Research by 106.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company’s stock worth $188,702,000 after purchasing an additional 155,240 shares in the last quarter. 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.