Lam Research’s (LRCX) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Lam Research (NASDAQ:LRCX)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a research report issued on Thursday,Benzinga reports. They currently have a $90.00 price objective on the semiconductor company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 26.02% from the stock’s previous close. Cantor Fitzgerald also issued estimates for Lam Research’s FY2025 earnings at $4.01 EPS.

Other equities analysts have also issued research reports about the stock. Morgan Stanley upped their price target on shares of Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group dropped their price target on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Oppenheimer decreased their price objective on Lam Research from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Wells Fargo & Company cut their target price on Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.70.

Lam Research Price Performance

LRCX opened at $71.42 on Thursday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $73.15 and its 200 day moving average price is $75.48. Lam Research has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The firm has a market cap of $91.68 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. As a group, sell-side analysts expect that Lam Research will post 3.71 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Lam Research

A number of hedge funds have recently modified their holdings of LRCX. Financial Perspectives Inc raised its position 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 buying an additional 309 shares during the period. Fairway Wealth LLC increased its holdings in shares of 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 purchasing an additional 306 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Lam Research in the first quarter worth approximately $26,000. Atwood & Palmer Inc. acquired a new stake in shares of Lam Research during the fourth quarter worth approximately $27,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Lam Research during the fourth quarter worth approximately $27,000. 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.