Royal Bank Of Canada Raises Lam Research Corporation (LRCX) Price Target to $225.00

Lam Research Corporation (NASDAQ:LRCX) had its price target raised by investment analysts at Royal Bank Of Canada from $210.00 to $225.00 in a research note issued on Wednesday. The firm currently has an “outperform” rating on the semiconductor company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 7.84% from the stock’s previous close.

Several other brokerages have also recently issued reports on LRCX. Credit Suisse Group reiterated a “buy” rating on shares of Lam Research Corporation in a research note on Tuesday, August 29th. DA Davidson reiterated a “buy” rating and issued a $175.00 price objective on shares of Lam Research Corporation in a research note on Wednesday, July 26th. Argus initiated coverage on Lam Research Corporation in a research note on Tuesday, September 12th. They issued a “buy” rating and a $196.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price objective on shares of Lam Research Corporation in a research note on Friday, September 1st. Finally, KeyCorp reiterated an “outperform” rating and issued a $202.00 price objective on shares of Lam Research Corporation in a research note on Saturday, September 16th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $210.04.

Lam Research Corporation (LRCX) opened at $208.64 on Wednesday. The firm has a market capitalization of $33,884.00, a PE ratio of 18.02, a price-to-earnings-growth ratio of 0.98 and a beta of 1.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83. Lam Research Corporation has a 52-week low of $97.79 and a 52-week high of $211.41.

Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. Lam Research Corporation’s revenue was up 51.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 EPS. equities research analysts anticipate that Lam Research Corporation will post 14.45 earnings per share for the current year.

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In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $170.00, for a total value of $127,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Timothy Archer sold 15,638 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $175.65, for a total value of $2,746,814.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,419 shares of company stock valued at $7,167,497. 0.41% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. increased its holdings in shares of Lam Research Corporation by 0.7% in the second quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock valued at $253,000 after purchasing an additional 12 shares during the period. Fiduciary Trust Co. increased its holdings in shares of Lam Research Corporation by 1.0% in the second quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock valued at $289,000 after purchasing an additional 20 shares during the period. Smithfield Trust Co. increased its holdings in shares of Lam Research Corporation by 0.9% in the second quarter. Smithfield Trust Co. now owns 2,382 shares of the semiconductor company’s stock valued at $337,000 after purchasing an additional 22 shares during the period. Hanseatic Management Services Inc. increased its holdings in shares of Lam Research Corporation by 1.0% in the second quarter. Hanseatic Management Services Inc. now owns 2,242 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 22 shares during the period. Finally, ETRADE Capital Management LLC increased its holdings in shares of Lam Research Corporation by 0.5% in the second quarter. ETRADE Capital Management LLC now owns 5,833 shares of the semiconductor company’s stock valued at $825,000 after purchasing an additional 28 shares during the period. 93.05% of the stock is currently owned by institutional investors and hedge funds.

About Lam Research Corporation

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

Analyst Recommendations for Lam Research Corporation (NASDAQ:LRCX)

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