Sanford C. Bernstein Increases Lam Research (NASDAQ:LRCX) Price Target to $550.00

Posted by on Jul 29th, 2023

Lam Research (NASDAQ:LRCX – Get Free Report) had its target price lifted by investment analysts at Sanford C. Bernstein from $500.00 to $550.00 in a research report issued on Thursday, FlyOnTheWall reports. Sanford C. Bernstein’s price objective would indicate a potential downside of 23.74% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. Mizuho raised their price objective on Lam Research from $520.00 to $680.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Citigroup raised their price objective on Lam Research from $695.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday. Berenberg Bank raised their price objective on Lam Research from $530.00 to $555.00 and gave the stock a “buy” rating in a report on Thursday, April 20th. Stifel Nicolaus upgraded Lam Research from a “hold” rating to a “buy” rating and raised their price objective for the stock from $505.00 to $725.00 in a report on Monday, July 24th. Finally, Jefferies Financial Group raised their price objective on Lam Research from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, April 20th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $569.47.

Lam Research Price Performance

LRCX stock opened at $721.26 on Thursday. Lam Research has a 1 year low of $299.59 and a 1 year high of $724.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.99 and a current ratio of 3.09. The stock’s 50 day moving average price is $627.04 and its 200 day moving average price is $547.16. The firm has a market cap of $96.89 billion, a P/E ratio of 21.76, a PEG ratio of 10.22 and a beta of 1.46.

Lam Research (NASDAQ:LRCX – Get Free Report) last posted its earnings results on Wednesday, July 26th. The semiconductor company reported $5.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.03 by $0.95. Lam Research had a return on equity of 57.70% and a net margin of 25.88%. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the company earned $8.83 EPS. Lam Research’s revenue was down 30.8% on a year-over-year basis. On average, sell-side analysts expect that Lam Research will post 24.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $642.86, for a total value of $567,002.52. Following the transaction, the director now directly owns 12,999 shares of the company’s stock, valued at $8,356,537.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Lam Research

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Lam Research by 97,796.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 131,092,612 shares of the semiconductor company’s stock worth $84,274,197,000 after acquiring an additional 130,958,702 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Lam Research by 117,180.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock worth $13,795,180,000 after acquiring an additional 32,794,236 shares during the last quarter. State Street Corp increased its position in shares of Lam Research by 1.7% during the first quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company’s stock worth $3,029,550,000 after acquiring an additional 92,606 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Lam Research by 12.7% during the first quarter. Ameriprise Financial Inc. now owns 5,615,253 shares of the semiconductor company’s stock worth $2,976,863,000 after acquiring an additional 632,690 shares during the last quarter. Finally, FMR LLC increased its position in shares of Lam Research by 0.7% during the first quarter. FMR LLC now owns 4,681,662 shares of the semiconductor company’s stock worth $2,481,843,000 after acquiring an additional 32,108 shares during the last quarter. 85.50% of the stock is owned by hedge funds and other institutional investors.

Lam Research Company Profile

(Get Free Report)

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.

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