Lam Research’s (LRCX) Neutral Rating Reaffirmed at Cantor Fitzgerald

Lam Research (NASDAQ:LRCX)‘s stock had its “neutral” rating restated by investment analysts at Cantor Fitzgerald in a research report issued on Thursday, Benzinga reports. They presently have a $1,100.00 price objective on the semiconductor company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 21.31% from the stock’s current price.

A number of other research firms have also recently commented on LRCX. Susquehanna lowered their target price on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays upped their price target on Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. The Goldman Sachs Group increased their target price on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. B. Riley raised shares of Lam Research from a “neutral” rating to a “buy” rating and upped their price objective for the company from $870.00 to $1,100.00 in a research note on Friday, April 19th. Finally, Stifel Nicolaus upped their price objective on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $932.85.

Lam Research Trading Up 2.5 %

NASDAQ:LRCX traded up $21.89 during mid-day trading on Thursday, hitting $906.78. 229,593 shares of the stock traded hands, compared to its average volume of 1,057,659. The firm’s 50 day moving average is $943.93 and its two-hundred day moving average is $806.38. Lam Research has a 52 week low of $493.42 and a 52 week high of $1,007.39. 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 $118.88 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 3.21 and a beta of 1.51.

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

Insider Activity at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, 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 valued at $6,559,489 in the last quarter. Insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

A number of large investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC grew its holdings in shares of Lam Research by 28.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,458 shares of the semiconductor company’s stock worth $1,541,000 after acquiring an additional 549 shares during the last quarter. Strategic Blueprint LLC lifted its stake in Lam Research by 18.2% during the third quarter. Strategic Blueprint LLC now owns 1,137 shares of the semiconductor company’s stock valued at $713,000 after buying an additional 175 shares in the last quarter. Oak Thistle LLC boosted its holdings in shares of Lam Research by 14.5% in the third quarter. Oak Thistle LLC now owns 530 shares of the semiconductor company’s stock worth $332,000 after buying an additional 67 shares during the period. Czech National Bank raised its holdings in shares of Lam Research by 46.5% during the third quarter. Czech National Bank now owns 23,297 shares of the semiconductor company’s stock valued at $14,602,000 after acquiring an additional 7,393 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in shares of Lam Research by 2.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 62,610 shares of the semiconductor company’s stock valued at $39,242,000 after acquiring an additional 1,217 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

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.