Lam Research (LRCX) – Research Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Lam Research (NASDAQ: LRCX):

• 8/5/2024 – Lam Research had its price target lowered by analysts at Citigroup Inc. from $1,025.00 to $990.00. They now have a “buy” rating on the stock.
• 8/1/2024 – Lam Research had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $1,200.00 price target on the stock.
• 8/1/2024 – Lam Research had its price target lowered by analysts at Wells Fargo & Company from $1,100.00 to $1,000.00. They now have an “equal weight” rating on the stock.
• 8/1/2024 – Lam Research had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $1,100.00 to $950.00. They now have a “buy” rating on the stock.
• 8/1/2024 – Lam Research had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $1,130.00 price target on the stock.
• 8/1/2024 – Lam Research had its price target raised by analysts at TD Cowen from $1,000.00 to $1,050.00. They now have a “buy” rating on the stock.
• 7/26/2024 – Lam Research was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 7/17/2024 – Lam Research was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 7/16/2024 – Lam Research had its price target raised by analysts at Cantor Fitzgerald from $1,100.00 to $1,200.00. They now have a “neutral” rating on the stock.

Lam Research Trading Up 1.2 %

Shares of LRCX traded up $10.47 during mid-day trading on Wednesday, reaching $873.33. The company’s stock had a trading volume of 844,496 shares, compared to its average volume of 1,069,763. The company has a current ratio of 2.97, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00. The company’s fifty day moving average price is $967.08 and its two-hundred day moving average price is $946.61. The stock has a market cap of $114.18 billion, a PE ratio of 32.12, a P/E/G ratio of 2.41 and a beta of 1.48.

Lam Research shares are going to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping the consensus estimate of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the prior year, the business earned $5.98 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, analysts predict that Lam Research Co. will post 35.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the transaction, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total value of $687,282.22. Following the transaction, the chief accounting officer now owns 4,914 shares in the company, valued at $5,219,945.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the sale, the senior vice president now owns 6,857 shares in the company, valued at approximately $7,239,346.32. The disclosure for this sale can be found here. Insiders sold a total of 16,326 shares of company stock worth $17,383,715 in the last three months. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Lam Research

A number of institutional investors have recently made changes to their positions in the stock. DSM Capital Partners LLC purchased a new position in shares of Lam Research in the fourth quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research during the 2nd quarter valued at $32,000. Partnership Wealth Management LLC purchased a new stake in shares of Lam Research in the 4th quarter worth $33,000. RFP Financial Group LLC raised 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 during the period. Finally, MCF Advisors LLC lifted its position in Lam Research by 860.0% during the fourth quarter. MCF Advisors LLC now owns 48 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.