UBS Group Increases Lam Research (NASDAQ:LRCX) Price Target to $1,150.00

Lam Research (NASDAQ:LRCX) had its target price hoisted by equities research analysts at UBS Group from $1,130.00 to $1,150.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. UBS Group’s price objective would suggest a potential upside of 27.57% from the stock’s current price.

A number of other research firms have also recently commented on LRCX. Citigroup upped their price objective on shares of Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lam Research in a research note on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price for the company. TD Cowen increased their price objective on shares of Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho upped their target price on shares of Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a report on Thursday. Finally, Raymond James upped their target price on shares of Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $933.85.

Lam Research Price Performance

NASDAQ LRCX traded up $16.56 during trading on Thursday, reaching $901.45. 394,478 shares of the company traded hands, compared to its average volume of 1,059,362. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The stock’s 50 day moving average price is $943.93 and its two-hundred day moving average price is $806.38. The company has a market cap of $118.18 billion, a price-to-earnings ratio of 34.61, a P/E/G ratio of 3.21 and a beta of 1.51. Lam Research has a 1-year low of $493.42 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the business earned $6.99 EPS. Lam Research’s revenue was down 2.0% compared to the same quarter last year. As a group, analysts anticipate that Lam Research will post 28.96 EPS for the current year.

Insider Buying and Selling at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock worth $6,559,489 over the last three months. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Lam Research

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Whalen Wealth Management Inc. bought a new stake in Lam Research during the 1st quarter worth approximately $292,000. Albert D Mason Inc. increased its holdings in shares of Lam Research by 1.1% in the 1st quarter. Albert D Mason Inc. now owns 1,400 shares of the semiconductor company’s stock worth $1,360,000 after buying an additional 15 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Lam Research by 53.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,193 shares of the semiconductor company’s stock worth $16,704,000 after buying an additional 6,011 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Lam Research by 18.3% in the 1st quarter. V Square Quantitative Management LLC now owns 3,513 shares of the semiconductor company’s stock worth $3,413,000 after buying an additional 543 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new position in shares of Lam Research in the 1st quarter worth $2,873,000. Institutional investors 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.