B. Riley Raises Lam Research (NASDAQ:LRCX) Price Target to $280.00

Lam Research (NASDAQ:LRCX) had its price target raised by research analysts at B. Riley from $240.00 to $280.00 in a research note issued on Monday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target points to a potential upside of 19.19% from the company’s current price.

Several other research analysts have also weighed in on LRCX. Goldman Sachs Group lowered shares of Lam Research from a “buy” rating to a “neutral” rating in a research note on Monday, July 22nd. Evercore ISI raised shares of Lam Research from an “in-line” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada reissued a “buy” rating on shares of Lam Research in a research note on Wednesday, August 7th. Nomura initiated coverage on shares of Lam Research in a research note on Wednesday, September 18th. They set a “neutral” rating and a $216.00 price objective on the stock. Finally, Needham & Company LLC lifted their price objective on shares of Lam Research from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Twelve analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Lam Research currently has a consensus rating of “Hold” and an average target price of $229.71.

Shares of NASDAQ LRCX opened at $234.91 on Monday. The firm has a market capitalization of $33.85 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.59 and a beta of 1.65. The company has a current ratio of 3.61, a quick ratio of 2.96 and a debt-to-equity ratio of 0.81. Lam Research has a 1 year low of $122.64 and a 1 year high of $244.98. The firm’s 50-day moving average is $232.90 and its 200-day moving average is $203.73.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.22. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.37 billion. Lam Research had a net margin of 22.70% and a return on equity of 43.72%. The company’s revenue for the quarter was down 24.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.31 EPS. As a group, equities research analysts anticipate that Lam Research will post 13.54 earnings per share for the current fiscal year.

In other Lam Research news, SVP Sarah A. O’dowd sold 5,000 shares of Lam Research stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $229.08, for a total value of $1,145,400.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Richard A. Gottscho sold 3,741 shares of Lam Research stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $219.00, for a total transaction of $819,279.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,888 shares of company stock worth $14,581,887. Insiders own 0.43% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hexavest Inc. acquired a new stake in shares of Lam Research in the second quarter valued at approximately $28,000. Marquette Asset Management LLC acquired a new stake in shares of Lam Research in the third quarter valued at approximately $35,000. MUFG Americas Holdings Corp raised its holdings in shares of Lam Research by 75.0% in the second quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 75 shares during the last quarter. Next Capital Management LLC acquired a new stake in shares of Lam Research in the second quarter valued at approximately $35,000. Finally, HM Payson & Co. acquired a new stake in shares of Lam Research in the second quarter valued at approximately $36,000. 88.53% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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