Lam Research (NASDAQ:LRCX) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Lam Research (NASDAQ:LRCX) in a report released on Thursday. The brokerage set an “outperform” rating and a $95.00 price target on the semiconductor company’s stock. Oppenheimer’s price objective would indicate a potential upside of 25.26% from the company’s current price.

LRCX has been the subject of several other research reports. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group decreased their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $98.06.

Lam Research Price Performance

Shares of LRCX opened at $75.84 on Thursday. Lam Research has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market capitalization of $97.35 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The business has a 50-day moving average of $79.62 and a 200-day moving average of $77.32.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, equities research analysts anticipate that Lam Research will post 3.71 earnings per share for the current year.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

Institutional Trading of Lam Research

Hedge funds have recently bought and sold shares of the business. Financial Perspectives Inc lifted its holdings in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares during the period. Fairway Wealth LLC raised its stake in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 306 shares during the period. Atwood & Palmer Inc. bought a new stake in shares of Lam Research in the fourth quarter valued at $27,000. Midwest Capital Advisors LLC bought a new stake in shares of Lam Research in the fourth quarter valued at $27,000. Finally, West Paces Advisors Inc. bought a new stake in shares of Lam Research in the fourth quarter valued at $27,000. 84.61% of the stock is currently owned by 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. 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.