Lam Research (NASDAQ:LRCX) PT Raised to $1,000.00 at TD Cowen

Lam Research (NASDAQ:LRCX) had its price target hoisted by analysts at TD Cowen from $975.00 to $1,000.00 in a note issued to investors on Thursday, Briefing.com reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price target indicates a potential upside of 13.01% from the company’s previous close.

Several other brokerages have also issued reports on LRCX. Wells Fargo & Company lifted their price target on Lam Research from $930.00 to $980.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group lifted their price target on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Raymond James lifted their price target on Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Evercore ISI began coverage on Lam Research in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price target for the company. Finally, Citigroup boosted their target price on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $933.10.

Lam Research Trading Down 0.3 %

NASDAQ:LRCX opened at $884.89 on Thursday. 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 has a fifty-two week low of $493.42 and a fifty-two week high of $1,007.39. The stock’s 50-day moving average is $943.93 and its two-hundred day moving average is $806.38. The stock has a market cap of $116.01 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 3.21 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.71 EPS. As a group, equities research analysts forecast that Lam Research will post 28.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now 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 have sold a total of 7,029 shares of company stock valued at $6,559,489 in the last three months. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Hedge funds have recently made changes to their positions in the business. Blue Whale Capital LLP raised its stake in shares of Lam Research by 0.7% in the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after buying an additional 800 shares in the last quarter. Everence Capital Management Inc. increased its position in shares of Lam Research by 54.7% during the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after purchasing an additional 1,440 shares in the last quarter. Gradient Investments LLC increased its position in shares of Lam Research by 32,411.1% during the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after purchasing an additional 14,585 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Lam Research during the 4th quarter worth about $7,930,000. Finally, Treasurer of the State of North Carolina increased its position in shares of Lam Research by 0.9% during the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after purchasing an additional 560 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.