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

Lam Research (NASDAQ:LRCX)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report released on Thursday, Benzinga reports. They currently have a $100.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 37.25% from the stock’s previous close.

Several other brokerages have also recently weighed in on LRCX. UBS Group reduced their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. B. Riley lowered their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley decreased their price target on shares of Lam Research from $81.00 to $77.00 in a report on Wednesday. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company cut their price objective on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.13.

Lam Research Stock Down 0.2 %

LRCX opened at $72.86 on Thursday. Lam Research has a twelve month low of $57.44 and a twelve month high of $113.00. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $79.60 and its two-hundred day moving average price is $89.94. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 2.68, a PEG ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last issued 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 analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.85 EPS. As a group, equities analysts expect that Lam Research will post 3.52 earnings per share for the current year.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the firm’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 sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Large investors have recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research during the 2nd quarter worth $32,000. RFP Financial Group LLC lifted its position in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Lam Research in the 2nd quarter worth approximately $40,000. Country Trust Bank bought a new stake in Lam Research during the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in Lam Research during the second quarter valued at approximately $45,000. 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.