Lam Research (NASDAQ:LRCX) PT Raised to $1,025.00 at Citigroup

Lam Research (NASDAQ:LRCX) had its price objective increased by equities researchers at Citigroup from $975.00 to $1,025.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price objective indicates a potential upside of 13.70% from the company’s current price.

Other equities analysts have also issued reports about the company. Raymond James boosted their target price on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Needham & Company LLC restated a “buy” rating and set a $1,030.00 target price on shares of Lam Research in a research report on Thursday. TD Cowen boosted their target price on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $870.00 to $1,100.00 in a research report on Friday, April 19th. Finally, The Goldman Sachs Group increased their target price on Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $950.85.

Lam Research Stock Performance

Shares of Lam Research stock traded up $16.58 during midday trading on Thursday, hitting $901.47. The company had a trading volume of 1,307,599 shares, compared to its average volume of 1,071,539. The stock has a market cap of $118.18 billion, a PE ratio of 34.86, a P/E/G ratio of 3.21 and a beta of 1.51. Lam Research has a 1-year low of $493.42 and a 1-year high of $1,007.39. The business’s 50 day simple moving average is $943.93 and its two-hundred day simple moving average is $806.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02.

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

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’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 directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’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 completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the transaction, the chief accounting officer now directly 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 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.

Hedge Funds Weigh In On Lam Research

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Arlington Trust Co LLC increased its holdings 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 purchasing an additional 13 shares in the last quarter. Capital Performance Advisors LLP increased its stake in shares of Lam Research by 2.2% in the fourth 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 increased its stake in shares of Lam Research by 0.5% in the fourth 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. Busey Bank increased its stake in shares of Lam Research by 1.5% in the first quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock valued at $844,000 after buying an additional 13 shares during the period. Finally, First Affirmative Financial Network boosted its position in shares of Lam Research by 2.5% during the 1st quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock valued at $510,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds 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.