Evercore ISI Increases Lam Research (NASDAQ:LRCX) Price Target to $241.00

Lam Research (NASDAQ:LRCX) had its price target hoisted by equities research analysts at Evercore ISI from $170.00 to $241.00 in a report issued on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Evercore ISI’s price target would indicate a potential upside of 9.95% from the stock’s previous close.

A number of other equities analysts have also recently commented on LRCX. Wall Street Zen cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. HSBC raised their price objective on Lam Research from $127.00 to $181.00 and gave the stock a “hold” rating in a report on Friday, January 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Lam Research in a research report on Monday, December 29th. Rothschild & Co Redburn lifted their price target on shares of Lam Research from $150.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 price objective (up from $160.00) on shares of Lam Research in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $202.81.

Lam Research Trading Up 0.6%

NASDAQ:LRCX opened at $219.19 on Monday. The business has a fifty day moving average price of $178.08 and a 200-day moving average price of $141.88. The firm has a market capitalization of $275.31 billion, a price-to-earnings ratio of 48.39, a price-to-earnings-growth ratio of 2.76 and a beta of 1.77. Lam Research has a one year low of $56.32 and a one year high of $236.10. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.21 and a quick ratio of 1.60.

Insider Activity

In related news, Director Bethany Mayer sold 1,298 shares of Lam Research stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $159.99, for a total value of $207,667.02. Following the completion of the transaction, the director owned 1,652 shares in the company, valued at approximately $264,303.48. The trade was a 44.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas R. Bettinger sold 40,080 shares of Lam Research stock in a transaction on Friday, November 14th. The stock was sold at an average price of $150.60, for a total transaction of $6,036,048.00. Following the sale, the chief financial officer directly owned 987,237 shares of the company’s stock, valued at approximately $148,677,892.20. This trade represents a 3.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 41,408 shares of company stock valued at $6,248,501. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Lam Research

Several hedge funds have recently modified their holdings of the business. Capital Advisors Ltd. LLC grew its stake in shares of Lam Research by 1.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 4,646 shares of the semiconductor company’s stock valued at $795,000 after acquiring an additional 51 shares in the last quarter. Financial Consulate Inc. grew its position in shares of Lam Research by 2.7% during the 4th quarter. Financial Consulate Inc. now owns 2,157 shares of the semiconductor company’s stock valued at $369,000 after buying an additional 57 shares during the last quarter. Abound Wealth Management raised its position in shares of Lam Research by 6.9% during the 4th quarter. Abound Wealth Management now owns 931 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 60 shares during the period. Independence Bank of Kentucky lifted its stake in Lam Research by 6.0% in the fourth quarter. Independence Bank of Kentucky now owns 1,060 shares of the semiconductor company’s stock valued at $181,000 after buying an additional 60 shares during the last quarter. Finally, McLean Asset Management Corp lifted its position in Lam Research by 1.3% in the 4th quarter. McLean Asset Management Corp now owns 5,099 shares of the semiconductor company’s stock valued at $873,000 after purchasing an additional 65 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Company Profile

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.