Stifel Nicolaus Raises Lam Research (NASDAQ:LRCX) Price Target to $1,050.00

Lam Research (NASDAQ:LRCX - Get Free Report) had its price objective upped by analysts at Stifel Nicolaus from $950.00 to $1,050.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Stifel Nicolaus' price target would suggest a potential upside of 9.01% from the stock's current price.

LRCX has been the subject of several other reports. Needham & Company LLC boosted their target price on shares of Lam Research from $800.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, January 25th. Susquehanna boosted their target price on shares of Lam Research from $655.00 to $880.00 and gave the stock a "neutral" rating in a research report on Monday, January 29th. Cantor Fitzgerald boosted their target price on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a "neutral" rating in a research report on Monday, April 8th. Mizuho upped their price objective on shares of Lam Research from $900.00 to $935.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Finally, Citigroup upped their price objective on shares of Lam Research from $800.00 to $975.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $875.55.

Lam Research Stock Up 1.8 %

LRCX traded up $17.06 on Tuesday, reaching $963.23. 544,094 shares of the company traded hands, compared to its average volume of 1,017,751. The stock's 50 day moving average price is $944.50 and its 200-day moving average price is $796.73. Lam Research has a 52-week low of $482.74 and a 52-week high of $1,007.39. The company has a market cap of $126.28 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 3.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating analysts' consensus estimates of $7.06 by $0.46. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm's revenue was down 28.8% on a year-over-year basis. During the same period in the previous year, the firm posted $10.71 earnings per share. On average, sell-side analysts expect that Lam Research will post 28.9 EPS for the current fiscal year.

Insider Transactions at Lam Research

In other news, CAO Christina Corrreia sold 647 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares of the company's stock, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Lam Research news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the sale, the director now owns 10,541 shares of the company's stock, valued at approximately $10,246,168.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christina Corrreia sold 647 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Lam Research

A number of hedge funds have recently added to or reduced their stakes in LRCX. Orion Capital Management LLC bought a new stake in Lam Research during the 3rd quarter worth about $25,000. Hobbs Group Advisors LLC bought a new position in shares of Lam Research in the 4th quarter valued at about $27,000. BluePath Capital Management LLC bought a new position in shares of Lam Research in the 3rd quarter valued at about $28,000. DSM Capital Partners LLC bought a new position in shares of Lam Research in the 4th quarter valued at about $28,000. Finally, OFI Invest Asset Management bought a new position in shares of Lam Research in the 3rd quarter valued at about $30,000. 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.