Jefferies Financial Group Forecasts Strong Price Appreciation for Lam Research (NASDAQ:LRCX) Stock

Lam Research (NASDAQ:LRCX) had its price objective raised by stock analysts at Jefferies Financial Group from $95.00 to $100.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 33.67% from the company’s previous close.

A number of other research analysts have also recently issued reports on LRCX. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price target on shares of Lam Research in a research report on Tuesday, February 18th. The Goldman Sachs Group lowered their price objective 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. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Mizuho increased their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company upped their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.59.

Lam Research Trading Down 1.7 %

LRCX opened at $74.81 on Friday. The firm has a market capitalization of $96.03 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.47 and a beta of 1.53. Lam Research has a one year low of $68.87 and a one year high of $113.00. The business has a 50 day simple moving average of $79.66 and a two-hundred day simple moving average of $77.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results 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 net margin of 26.49% and a return on equity of 51.86%. Analysts predict that Lam Research will post 3.71 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Financial Perspectives Inc raised its position in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Fairway Wealth LLC increased its holdings in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in Lam Research in the 4th quarter worth $27,000. Midwest Capital Advisors LLC bought a new position in shares of Lam Research during the 4th quarter valued at about $27,000. Finally, West Paces Advisors Inc. purchased a new position in shares of Lam Research during the fourth quarter valued at about $27,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

About Lam Research

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.