Lam Research (NASDAQ:LRCX) Given New $335.00 Price Target at Barclays

Key Points

• Barclays raised Lam Research’s price target from $275 to $335 while keeping an equal weight rating. The new target implies only about 2.4% upside from the prior close.
• Other analysts remain generally constructive on the stock, with several firms recently lifting targets and 27 Buy ratings versus 7 Hold ratings. MarketBeat says the consensus view is Moderate Buy with an average target of $311.85.
• Lam Research also reported better-than-expected quarterly results, posting EPS of $1.47 versus $1.36 expected and revenue of $5.84 billion versus $5.70 billion expected. The company’s revenue rose 23.8% year over year.

Lam Research (NASDAQ:LRCX - Get Free Report) had its target price lifted by equities researchers at Barclays from $275.00 to $335.00 in a report released on Wednesday,MarketScreener reports. The firm presently has an "equal weight" rating on the semiconductor company's stock. Barclays's price objective indicates a potential upside of 2.40% from the company's previous close.

A number of other research firms have also recently weighed in on LRCX. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 price objective on shares of Lam Research in a research report on Thursday, April 23rd. Cantor Fitzgerald set a $425.00 price objective on shares of Lam Research and gave the company an "overweight" rating in a research report on Wednesday. BNP Paribas Exane boosted their price objective on shares of Lam Research from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, April 23rd. Weiss Ratings cut shares of Lam Research from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 14th. Finally, Berenberg Bank boosted their price target on shares of Lam Research from $265.00 to $335.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Twenty-seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $311.85.

Lam Research Stock Up 0.8%

LRCX opened at $327.16 on Wednesday. Lam Research has a one year low of $87.75 and a one year high of $349.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.77 and a current ratio of 2.54. The stock has a market capitalization of $409.14 billion, a P/E ratio of 61.73, a price-to-earnings-growth ratio of 2.69 and a beta of 1.85. The business's 50-day simple moving average is $277.79 and its 200-day simple moving average is $229.81.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.11. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.70 billion. Lam Research had a return on equity of 66.21% and a net margin of 30.94%.The firm's quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 EPS. Lam Research has set its Q4 2026 guidance at 1.500-1.800 EPS. Analysts anticipate that Lam Research will post 5.67 EPS for the current year.

Insider Buying and Selling

In related news, insider Ava Harter sold 6,010 shares of the company's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $258.66, for a total transaction of $1,554,546.60. Following the completion of the transaction, the insider directly owned 53,205 shares in the company, valued at $13,762,005.30. This represents a 10.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Neil J. Fernandes sold 18,170 shares of Lam Research stock in a transaction on Friday, May 1st. The shares were sold at an average price of $255.14, for a total value of $4,635,893.80. Following the sale, the senior vice president directly owned 66,129 shares in the company, valued at $16,872,153.06. The trade was a 21.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 31,839 shares of company stock valued at $8,561,667. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lam Research

Hedge funds have recently modified their holdings of the stock. Cedar Mountain Advisors LLC boosted its holdings in shares of Lam Research by 242.9% in the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company's stock worth $26,000 after buying an additional 85 shares during the period. Vermillion Wealth Management Inc. purchased a new stake in shares of Lam Research in the 1st quarter valued at approximately $26,000. PMV Capital Advisers LLC acquired a new stake in shares of Lam Research in the fourth quarter worth $25,000. Bayban purchased a new position in shares of Lam Research during the fourth quarter valued at $26,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of Lam Research during the fourth quarter valued at $27,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

About Lam Research

Lam Research Corporation NASDAQ: LRCX is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam's product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.

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