Lam Research (NASDAQ:LRCX) Earns Overweight Rating from Cantor Fitzgerald

Lam Research (NASDAQ:LRCX - Get Free Report)'s stock had its "overweight" rating restated by research analysts at Cantor Fitzgerald in a report issued on Tuesday,Benzinga reports. They currently have a $100.00 price target on the semiconductor company's stock. Cantor Fitzgerald's price target points to a potential upside of 16.25% from the stock's previous close.

LRCX has been the topic of several other research reports. Mizuho cut their price objective on Lam Research from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. BNP Paribas raised Lam Research to a "hold" rating in a report on Thursday, October 24th. Wells Fargo & Company lifted their target price on Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. KeyCorp raised Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price on the stock in a report on Friday, January 17th. Finally, B. Riley cut their target price on Lam Research from $132.50 to $105.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $98.22.

Lam Research Price Performance

Shares of NASDAQ LRCX traded down $3.00 during mid-day trading on Tuesday, hitting $86.02. 12,857,061 shares of the stock traded hands, compared to its average volume of 12,447,650. 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 has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a market cap of $110.42 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46. The firm has a 50 day simple moving average of $78.46 and a two-hundred day simple moving average of $78.03.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, equities research analysts forecast that Lam Research will post 3.71 EPS for the current fiscal year.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

Several institutional investors and hedge funds have recently bought and sold shares of LRCX. Financial Perspectives Inc grew its holdings in 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 purchasing an additional 309 shares during the period. Fairway Wealth LLC boosted its holdings in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares during the period. Atwood & Palmer Inc. bought a new position in shares of Lam Research in the fourth quarter worth $27,000. Midwest Capital Advisors LLC bought a new position in shares of Lam Research in the fourth quarter worth $27,000. Finally, West Paces Advisors Inc. bought a new position in shares of Lam Research in the fourth quarter worth $27,000. 84.61% of the stock is 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. 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.