Lam Research (NASDAQ:LRCX) Rating Reiterated by Needham & Company LLC

Lam Research (NASDAQ:LRCX)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $100.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price target indicates a potential upside of 28.73% from the company’s previous close.

LRCX has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft cut their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. UBS Group lowered their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. B. Riley reduced their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday. Cantor Fitzgerald lowered their price objective on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Finally, Morgan Stanley reduced their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Stock Up 1.4 %

Shares of NASDAQ:LRCX opened at $77.68 on Thursday. The company’s fifty day moving average is $79.44 and its 200-day moving average is $89.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research has a 52 week low of $57.44 and a 52 week high of $113.00. The company has a market capitalization of $100.68 billion, a PE ratio of 26.79, a P/E/G ratio of 1.89 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the business earned $6.85 earnings per share. Equities research analysts predict that Lam Research will post 3.23 earnings per share for the current fiscal year.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Advocates Investment Management lifted its holdings in shares of Lam Research by 27.0% during the 3rd quarter. Financial Advocates Investment Management now owns 945 shares of the semiconductor company’s stock valued at $772,000 after purchasing an additional 201 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Lam Research during the 3rd quarter worth approximately $10,767,000. Pinnacle Associates Ltd. lifted its stake in Lam Research by 12.3% in the third quarter. Pinnacle Associates Ltd. now owns 77,943 shares of the semiconductor company’s stock valued at $61,049,000 after buying an additional 8,548 shares in the last quarter. Mutual Advisors LLC boosted its holdings in shares of Lam Research by 307.2% in the third quarter. Mutual Advisors LLC now owns 8,343 shares of the semiconductor company’s stock valued at $6,809,000 after buying an additional 6,294 shares during the period. Finally, WD Rutherford LLC increased its position in shares of Lam Research by 28.0% during the third quarter. WD Rutherford LLC now owns 1,047 shares of the semiconductor company’s stock worth $854,000 after acquiring an additional 229 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

About Lam Research

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.