Lam Research (NASDAQ:LRCX) Now Covered by Oppenheimer

Investment analysts at Oppenheimer started coverage on shares of Lam Research (NASDAQ:LRCX) in a research note issued on Thursday. The firm set an “outperform” rating and a $95.00 price target on the semiconductor company’s stock. Oppenheimer’s target price would suggest a potential upside of 22.78% from the company’s current price.

LRCX has been the topic of a number of other reports. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Barclays reduced their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Lam Research in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.06.

Lam Research Stock Down 0.7 %

Lam Research stock traded down $0.55 during mid-day trading on Thursday, reaching $77.38. The stock had a trading volume of 624,853 shares, compared to its average volume of 10,997,312. Lam Research has a one year low of $68.87 and a one year high of $113.00. The company has a 50-day moving average price of $79.59 and a two-hundred day moving average price of $77.33. The company has a market capitalization of $99.33 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 1.47 and a beta of 1.53. 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 posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating 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%. On average, analysts expect that Lam Research will post 3.71 EPS for the current fiscal year.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value 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. The trade was a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Insight Wealth Partners LLC bought a new position in Lam Research during the third quarter valued at approximately $202,000. B&L Asset Management LLC bought a new position in shares of Lam Research during the 3rd quarter valued at approximately $204,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Lam Research in the third quarter valued at $220,000. Concorde Asset Management LLC bought a new stake in Lam Research in the third quarter worth $242,000. Finally, Virtus Investment Advisers Inc. bought a new stake in Lam Research in the third quarter worth $245,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.