Lam Research (NASDAQ:LRCX) had its price objective upped by Deutsche Bank from $350.00 to $400.00 in a research note issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Deutsche Bank’s price objective points to a potential upside of 6.06% from the stock’s current price.

LRCX has been the topic of several other research reports. Nomura upped their price objective on Lam Research from $265.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. KeyCorp upped their price objective on Lam Research from $348.00 to $421.00 and gave the company an “overweight” rating in a research report on Thursday. Cfra cut their price objective on Lam Research from $310.00 to $290.00 and set a “hold” rating on the stock in a research report on Thursday, April 23rd. Citigroup upped their price objective on Lam Research from $313.00 to $389.00 and gave the company a “buy” rating in a research report on Thursday. They noted that the move was a valuation call. Finally, BNP Paribas began coverage on Lam Research in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $320.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $370.35.

NASDAQ:LRCX traded down $1.38 during midday trading on Thursday, hitting $377.16. 2,040,329 shares of the company traded hands, compared to its average volume of 1,523,933. The firm’s fifty day moving average is $327.42 and its 200-day moving average is $289.35. Lam Research has a 12-month low of $181.38 and a 12-month high of $381.48. The firm has a market capitalization of $54.75 billion, a P/E ratio of 24.93, a P/E/G ratio of 1.73 and a beta of 1.35. The company has a current ratio of 3.43, a quick ratio of 3.67 and a debt-to-equity ratio of 0.96.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $4.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.20 by $0.58. Lam Research had a return on equity of 49.72% and a net margin of 22.42%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the prior year, the firm posted $3.62 EPS. Lam Research’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, research analysts expect that Lam Research will post 17.13 EPS for the current fiscal year.

In other news, SVP Vahid Vahedi sold 10,688 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $330.00, for a total value of $3,527,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Lord sold 10,719 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $343.00, for a total value of $3,676,617.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,466 shares of company stock valued at $11,250,054. 0.43% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. National Asset Management Inc. grew its holdings in Lam Research by 553.2% during the second quarter. National Asset Management Inc. now owns 22,261 shares of the semiconductor company’s stock worth $7,201,000 after acquiring an additional 18,853 shares during the period. Comerica Bank grew its holdings in Lam Research by 2.9% during the second quarter. Comerica Bank now owns 35,187 shares of the semiconductor company’s stock worth $12,737,000 after acquiring an additional 999 shares during the period. Carolina Wealth Advisors LLC grew its holdings in Lam Research by 8.8% during the second quarter. Carolina Wealth Advisors LLC now owns 1,967 shares of the semiconductor company’s stock worth $636,000 after acquiring an additional 159 shares during the period. Sigma Planning Corp grew its holdings in Lam Research by 21.3% during the second quarter. Sigma Planning Corp now owns 3,627 shares of the semiconductor company’s stock worth $1,173,000 after acquiring an additional 636 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new stake in Lam Research during the second quarter worth about $289,000. Hedge funds and other institutional investors own 85.05% 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 worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

See Also: Hedge Funds

The Fly

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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