Lam Research (NASDAQ:LRCX) Stock Rating Reaffirmed by Stifel Nicolaus

by · The Cerbat Gem

Lam Research (NASDAQ:LRCX – Get Free Report)‘s stock had its “buy” rating reiterated by analysts at Stifel Nicolaus in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $100.00 price objective on the semiconductor company’s stock, down from their prior price objective of $105.00. Stifel Nicolaus’ price target would indicate a potential upside of 32.45% from the company’s previous close.

Several other research firms have also recently weighed in on LRCX. B. Riley cut their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Citigroup reduced their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Morgan Stanley dropped their price target on shares of Lam Research from $81.00 to $77.00 in a research note on Wednesday. Finally, TD Cowen raised their price objective on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Get Our Latest Stock Report on LRCX

Lam Research Price Performance

LRCX traded up $2.64 during midday trading on Thursday, hitting $75.50. The stock had a trading volume of 10,213,315 shares, compared to its average volume of 11,212,615. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The company has a market cap of $9.87 billion, a P/E ratio of 2.78, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The business has a fifty day moving average of $79.60 and a 200 day moving average of $89.94. Lam Research has a 1 year low of $57.44 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 earnings per share. The business’s revenue was up 19.7% on a year-over-year basis. As a group, equities analysts forecast that Lam Research will post 3.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research 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 transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Lam Research in the second quarter worth about $32,000. RFP Financial Group LLC lifted its holdings in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Lam Research in the 2nd quarter worth approximately $40,000. Country Trust Bank bought a new stake in shares of Lam Research during the second quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lam Research during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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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