Lam Research (NASDAQ:LRCX) Price Target Raised to $726.00 at Morgan Stanley


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Lam Research (NASDAQ:LRCX) had its price target raised by equities research analysts at Morgan Stanley from $568.00 to $726.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 13.22% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of Lam Research from $660.00 to $750.00 and gave the stock a “buy” rating in a report on Monday. Barclays increased their target price on shares of Lam Research from $405.00 to $600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 26th. They noted that the move was a valuation call. Sanford C. Bernstein assumed coverage on shares of Lam Research in a report on Tuesday, March 30th. They set an “outperform” rating and a $700.00 target price on the stock. Mizuho increased their target price on shares of Lam Research from $575.00 to $705.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Argus increased their target price on shares of Lam Research from $625.00 to $725.00 and gave the stock a “buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $591.40.

Lam Research stock opened at $641.25 on Thursday. Lam Research has a 52-week low of $229.69 and a 52-week high of $669.00. The company has a market cap of $91.64 billion, a price-to-earnings ratio of 36.37, a PEG ratio of 1.42 and a beta of 1.33. The company has a quick ratio of 2.68, a current ratio of 3.31 and a debt-to-equity ratio of 0.92. The firm’s fifty day moving average is $588.08 and its 200 day moving average is $500.36.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Tuesday, April 20th. The semiconductor company reported $7.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.56 by $0.93. Lam Research had a net margin of 23.60% and a return on equity of 55.82%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the firm posted $3.98 earnings per share. The business’s revenue for the quarter was up 53.7% on a year-over-year basis. On average, equities research analysts anticipate that Lam Research will post 22.41 earnings per share for the current fiscal year.

In other Lam Research news, CEO Timothy Archer sold 4,464 shares of the company’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $515.00, for a total value of $2,298,960.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Lord sold 4,166 shares of the company’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $576.56, for a total value of $2,401,948.96. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Marshall Financial Group LLC acquired a new stake in shares of Lam Research during the fourth quarter valued at $1,507,000. Wedge Capital Management L L P NC purchased a new position in shares of Lam Research in the 4th quarter worth about $70,134,000. Laffer Tengler Investments raised its holdings in shares of Lam Research by 21.8% during the 4th quarter. Laffer Tengler Investments now owns 3,827 shares of the semiconductor company’s stock valued at $1,807,000 after buying an additional 685 shares during the period. Redpoint Investment Management Pty Ltd raised its holdings in shares of Lam Research by 17.9% during the 4th quarter. Redpoint Investment Management Pty Ltd now owns 4,324 shares of the semiconductor company’s stock valued at $2,042,000 after buying an additional 655 shares during the period. Finally, Busey Wealth Management acquired a new stake in Lam Research during the 4th quarter valued at approximately $256,000. 84.03% 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 worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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