Lam Research Corporation (NASDAQ:LRCX) had its target price raised by Morgan Stanley from $176.00 to $213.00 in a research note issued to investors on Wednesday, October 18th, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s target price would indicate a potential upside of 3.01% from the company’s current price.
LRCX has been the subject of a number of other reports. Berenberg Bank reaffirmed a “buy” rating on shares of Lam Research Corporation in a report on Sunday, July 30th. Zacks Investment Research raised shares of Lam Research Corporation from a “sell” rating to a “hold” rating and set a $221.00 price objective for the company in a report on Friday, October 13th. Argus started coverage on shares of Lam Research Corporation in a report on Tuesday, September 12th. They set a “buy” rating and a $196.00 price objective for the company. B. Riley reiterated a “buy” rating and set a $220.00 target price on shares of Lam Research Corporation in a research report on Tuesday, August 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price (up previously from $200.00) on shares of Lam Research Corporation in a research report on Friday, October 13th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $209.32.
Shares of Lam Research Corporation (NASDAQ LRCX) traded up 0.51% during trading on Wednesday, hitting $207.84. The stock had a trading volume of 1,694,827 shares. The stock has a market cap of $33.70 billion, a price-to-earnings ratio of 18.97 and a beta of 1.53. The stock’s 50-day moving average is $182.92 and its 200-day moving average is $160.30. Lam Research Corporation has a 12-month low of $93.69 and a 12-month high of $208.41.
Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The business’s revenue was up 51.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 EPS. On average, equities research analysts expect that Lam Research Corporation will post $14.60 EPS for the current year.
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In other news, COO Timothy Archer sold 15,638 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $175.65, for a total value of $2,746,814.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $170.00, for a total transaction of $127,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,419 shares of company stock worth $7,167,497. Insiders own 0.41% of the company’s stock.
Several hedge funds have recently made changes to their positions in LRCX. Janus Henderson Group PLC lifted its position in shares of Lam Research Corporation by 23,238.8% in the second quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock worth $670,756,000 after purchasing an additional 4,722,348 shares in the last quarter. Harbour Capital Advisors LLC increased its holdings in Lam Research Corporation by 13,054.2% during the second quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock worth $13,370,000 after buying an additional 1,876,544 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in Lam Research Corporation by 1,696.5% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 878,960 shares of the semiconductor company’s stock worth $124,311,000 after buying an additional 830,034 shares during the last quarter. GQG Partners LLC acquired a new position in Lam Research Corporation during the second quarter worth $87,726,000. Finally, Soros Fund Management LLC acquired a new position in Lam Research Corporation during the first quarter worth $71,978,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.
Lam Research Corporation Company Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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