Cantor Fitzgerald Reiterates Neutral Rating for Lam Research (NASDAQ:LRCX)

Lam Research (NASDAQ:LRCXGet Free Report)‘s stock had its “neutral” rating reaffirmed by stock analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They currently have a $900.00 target price on the semiconductor company’s stock. Cantor Fitzgerald’s price objective points to a potential downside of 1.20% from the stock’s current price.

A number of other analysts have also issued reports on LRCX. Deutsche Bank Aktiengesellschaft lowered Lam Research from a “buy” rating to a “hold” rating and lifted their target price for the stock from $680.00 to $725.00 in a research report on Tuesday, December 12th. Stifel Nicolaus boosted their price target on shares of Lam Research from $850.00 to $950.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Barclays boosted their target price on shares of Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. The Goldman Sachs Group upped their price objective on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Redburn Atlantic initiated coverage on shares of Lam Research in a research note on Wednesday, November 22nd. They set a “buy” rating and a $800.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $793.27.

Check Out Our Latest Report on Lam Research

Lam Research Stock Performance

LRCX traded down $0.62 on Monday, hitting $910.96. 578,318 shares of the company traded hands, compared to its average volume of 1,109,733. The company has a 50 day moving average of $783.28 and a 200-day moving average of $703.05. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $119.43 billion, a PE ratio of 35.71, a PEG ratio of 3.27 and a beta of 1.50. Lam Research has a 12-month low of $467.02 and a 12-month high of $924.22.

Lam Research (NASDAQ:LRCXGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. Lam Research’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period last year, the business posted $10.71 EPS. Sell-side analysts anticipate that Lam Research will post 28.68 earnings per share for the current year.

Insider Activity at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $768.75, for a total value of $497,381.25. Following the sale, the chief accounting officer now owns 5,492 shares of the company’s stock, valued at $4,221,975. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Lam Research news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $768.75, for a total transaction of $497,381.25. Following the completion of the transaction, the chief accounting officer now owns 5,492 shares in the company, valued at $4,221,975. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Ava Hahn sold 2,342 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $732.00, for a total transaction of $1,714,344.00. Following the transaction, the senior vice president now directly owns 3,433 shares of the company’s stock, valued at approximately $2,512,956. The disclosure for this sale can be found here. Insiders have sold 33,391 shares of company stock valued at $24,130,312 in the last ninety days. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arlington Trust Co LLC raised its stake in Lam Research by 7.7% in the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 13 shares during the last quarter. Capital Performance Advisors LLP raised its position in shares of Lam Research by 2.2% during the 4th quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock valued at $480,000 after buying an additional 13 shares during the period. Van Leeuwen & Company LLC raised its position in shares of Lam Research by 0.5% during the 4th quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock valued at $2,023,000 after buying an additional 13 shares during the period. Intellectus Partners LLC increased its holdings in Lam Research by 0.8% in the 2nd quarter. Intellectus Partners LLC now owns 1,840 shares of the semiconductor company’s stock valued at $1,186,000 after purchasing an additional 14 shares during the last quarter. Finally, CNB Bank increased its holdings in Lam Research by 1.4% in the 4th quarter. CNB Bank now owns 1,032 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 14 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.

Lam Research Company Profile

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.