Argus Raises Lam Research Corporation (NASDAQ:LRCX) Price Target to $225.00

Lam Research Corporation (NASDAQ:LRCX) had its target price lifted by research analysts at Argus from $196.00 to $225.00 in a research report issued to clients and investors on Thursday, October 19th. The firm presently has a “buy” rating on the semiconductor company’s stock. Argus’ price target would indicate a potential upside of 8.17% from the stock’s previous close.

A number of other research firms have also weighed in on LRCX. Berenberg Bank reiterated a “buy” rating and issued a $240.00 price target on shares of Lam Research Corporation in a research report on Thursday, October 19th. Needham & Company LLC upped their price target on shares of Lam Research Corporation from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Citigroup Inc. upped their price target on shares of Lam Research Corporation from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 18th. J P Morgan Chase & Co reiterated a “buy” rating and issued a $230.00 price target on shares of Lam Research Corporation in a research report on Wednesday, October 18th. Finally, Stifel Nicolaus upped their price target on shares of Lam Research Corporation from $215.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Lam Research Corporation has a consensus rating of “Buy” and an average price target of $209.32.



Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 0.59% during trading on Thursday, hitting $208.00. The stock had a trading volume of 1,984,702 shares. Lam Research Corporation has a 1-year low of $93.69 and a 1-year high of $208.65. The company has a market capitalization of $33.73 billion, a P/E ratio of 18.99 and a beta of 1.53. The firm has a 50-day moving average of $185.17 and a 200 day moving average of $161.19.

Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.19. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.46 billion. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The company’s revenue was up 51.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 earnings per share. Equities research analysts predict that Lam Research Corporation will post $14.60 earnings per share for the current fiscal year.

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In related news, Director Stephen G. Newberry sold 750 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $175.00, for a total value of $131,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Timothy Archer sold 8,691 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $171.76, for a total transaction of $1,492,766.16. The disclosure for this sale can be found here. Insiders sold a total of 40,419 shares of company stock worth $7,167,497 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Vantage Financial Partners Ltd. Inc. purchased a new position in Lam Research Corporation during the 2nd quarter worth approximately $254,000. Bollard Group LLC purchased a new position in Lam Research Corporation during the 3rd quarter worth approximately $130,000. Odey Holdings AG raised its position in Lam Research Corporation by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after buying an additional 73 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in Lam Research Corporation during the 2nd quarter worth approximately $118,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lam Research Corporation during the 2nd quarter worth approximately $134,000. 94.17% of the stock is owned by institutional investors.

About Lam Research Corporation

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.

Analyst Recommendations for Lam Research Corporation (NASDAQ:LRCX)

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