Stock analysts at Raymond James assumed coverage on shares of Lam Research (NASDAQ:LRCX – Get Free Report) in a report issued on Tuesday, Briefing.com reports. The brokerage set an “outperform” rating and a $725.00 price target on the semiconductor company’s stock. Raymond James’ target price would suggest a potential upside of 12.89% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. Needham & Company LLC raised Lam Research from a “hold” rating to a “buy” rating and set a $800.00 target price on the stock in a research note on Friday, October 13th. B. Riley increased their target price on Lam Research from $500.00 to $650.00 in a research note on Monday, July 17th. Sanford C. Bernstein increased their target price on Lam Research from $500.00 to $550.00 in a research note on Thursday, July 27th. Evercore ISI reduced their price objective on Lam Research from $750.00 to $700.00 in a research note on Thursday, October 5th. Finally, Stifel Nicolaus raised their price objective on Lam Research from $725.00 to $750.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $615.91.
View Our Latest Analysis on LRCX
Lam Research Stock Performance
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its quarterly earnings data on Wednesday, October 18th. The semiconductor company reported $6.66 EPS for the quarter, beating the consensus estimate of $6.15 by $0.51. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.42 billion. Lam Research had a return on equity of 57.40% and a net margin of 25.88%. Lam Research’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.42 earnings per share. As a group, sell-side analysts expect that Lam Research will post 26.82 earnings per share for the current year.
Insider Transactions at Lam Research
In other news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $627.75, for a total value of $553,675.50. Following the sale, the director now directly owns 12,117 shares in the company, valued at approximately $7,606,446.75. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Vahid Vahedi sold 13,756 shares of Lam Research stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $717.46, for a total transaction of $9,869,379.76. Following the sale, the senior vice president now directly owns 26,483 shares in the company, valued at $19,000,493.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $627.75, for a total value of $553,675.50. Following the sale, the director now owns 12,117 shares in the company, valued at $7,606,446.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,159 shares of company stock worth $12,913,253. 0.32% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Nissay Asset Management Corp Japan ADV raised its stake in shares of Lam Research by 12.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 26,813 shares of the semiconductor company’s stock worth $14,214,000 after purchasing an additional 2,990 shares during the last quarter. WD Rutherford LLC raised its stake in shares of Lam Research by 9.1% in the first quarter. WD Rutherford LLC now owns 1,195 shares of the semiconductor company’s stock worth $633,000 after purchasing an additional 100 shares during the last quarter. Nordea Investment Management AB increased its position in Lam Research by 0.4% during the second quarter. Nordea Investment Management AB now owns 411,970 shares of the semiconductor company’s stock valued at $266,108,000 after acquiring an additional 1,475 shares during the last quarter. Principal Financial Group Inc. increased its position in Lam Research by 1.2% during the first quarter. Principal Financial Group Inc. now owns 245,136 shares of the semiconductor company’s stock valued at $129,951,000 after acquiring an additional 2,982 shares during the last quarter. Finally, CBOE Vest Financial LLC increased its position in Lam Research by 210.2% during the first quarter. CBOE Vest Financial LLC now owns 2,655 shares of the semiconductor company’s stock valued at $1,407,000 after acquiring an additional 1,799 shares during the last quarter. Hedge funds and other institutional investors own 84.08% 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.
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