Lam Research (NASDAQ:LRCX) had its target price upped by research analysts at Piper Sandler from $597.00 to $627.00 in a research note issued on Thursday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price target points to a potential upside of 5.08% from the stock’s current price.
Other analysts have also recently issued reports about the company. UBS Group cut their price target on Lam Research from $715.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, October 21st. Jefferies Financial Group began coverage on Lam Research in a research note on Wednesday, January 5th. They issued a “buy” rating and a $869.00 price target on the stock. B. Riley reiterated a “buy” rating and set a $750.00 target price (down previously from $815.00) on shares of Lam Research in a research report on Thursday, October 21st. Mizuho cut their target price on Lam Research from $770.00 to $725.00 in a research report on Thursday. Finally, Morgan Stanley lifted their target price on Lam Research from $710.00 to $755.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 15th. Eleven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $715.07.
LRCX opened at $596.67 on Thursday. Lam Research has a 52 week low of $481.05 and a 52 week high of $731.85. The business has a fifty day simple moving average of $677.70 and a 200-day simple moving average of $624.67. The firm has a market cap of $84.01 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.16 and a beta of 1.16. The company has a quick ratio of 2.43, a current ratio of 3.27 and a debt-to-equity ratio of 0.86.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 26th. The semiconductor company reported $8.53 EPS for the quarter, topping the consensus estimate of $8.51 by $0.02. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.41 billion. Lam Research had a return on equity of 75.96% and a net margin of 27.07%. The company’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the business posted $6.03 earnings per share. Sell-side analysts expect that Lam Research will post 34.4 earnings per share for the current year.
In other news, SVP Vahid Vahedi sold 8,357 shares of the company’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $608.07, for a total transaction of $5,081,640.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy Archer sold 11,329 shares of the company’s stock in a transaction on Monday, November 29th. The stock was sold at an average price of $675.00, for a total value of $7,647,075.00. The disclosure for this sale can be found here. Insiders sold a total of 39,260 shares of company stock valued at $26,310,966 over the last quarter. 0.34% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in LRCX. Cedar Wealth Management LLC purchased a new stake in Lam Research during the 3rd quarter worth $25,000. D Orazio & Associates Inc. purchased a new stake in Lam Research during the 3rd quarter worth $26,000. Community Bank N.A. purchased a new stake in Lam Research during the 3rd quarter worth $28,000. Total Clarity Wealth Management Inc. purchased a new stake in Lam Research during the 3rd quarter worth $36,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in Lam Research during the 4th quarter worth $36,000. Institutional investors and hedge funds own 80.53% of the company’s stock.
Lam Research Company Profile
Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.