Royal Bank Of Canada Increases Lam Research Corporation (LRCX) Price Target to $210.00

Lam Research Corporation (NASDAQ:LRCX) had its price objective upped by stock analysts at Royal Bank Of Canada from $185.00 to $210.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 7.94% from the stock’s previous close.

A number of other research firms have also issued reports on LRCX. BidaskClub upgraded shares of Lam Research Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an “overweight” rating and set a $176.00 target price on shares of Lam Research Corporation in a report on Monday, August 14th. Vetr lowered shares of Lam Research Corporation from a “buy” rating to a “hold” rating and set a $196.77 target price on the stock. in a report on Monday. DA Davidson reiterated a “buy” rating and set a $215.00 target price on shares of Lam Research Corporation in a report on Thursday, October 12th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Lam Research Corporation in a report on Tuesday, August 29th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $187.79.

Lam Research Corporation (NASDAQ:LRCX) opened at 194.55 on Wednesday. The company has a market cap of $31.61 billion, a P/E ratio of 21.06 and a beta of 1.53. Lam Research Corporation has a 52 week low of $93.69 and a 52 week high of $195.49. The company has a 50-day moving average of $175.34 and a 200-day moving average of $156.33.

Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.19. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The firm’s quarterly revenue was up 51.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.81 EPS. On average, equities research analysts predict that Lam Research Corporation will post $12.92 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://ledgergazette.com/2017/10/18/royal-bank-of-canada-increases-lam-research-corporation-lrcx-price-target-to-210-00.html.

In other Lam Research Corporation news, COO Timothy Archer sold 8,691 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $171.76, for a total transaction of $1,492,766.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen G. Newberry sold 1,500 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $162.75, for a total transaction of $244,125.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,169 shares of company stock worth $7,265,304 over the last three months. 0.41% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of LRCX. Odey Holdings AG grew its position in Lam Research Corporation by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 73 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in Lam Research Corporation during the 2nd quarter worth $118,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lam Research Corporation during the 2nd quarter worth $134,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its position in Lam Research Corporation by 358.3% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 860 shares during the last quarter. Finally, Sun Life Financial INC grew its position in Lam Research Corporation by 10,672.7% during the 2nd quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’

A number of other research firms have also issued reports on LRCX. BidaskClub upgraded shares of Lam Research Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an “overweight” rating and set a $176.00 target price on shares of Lam Research Corporation in a report on Monday, August 14th. Vetr lowered shares of Lam Research Corporation from a “buy” rating to a “hold” rating and set a $196.77 target price on the stock. in a report on Monday. DA Davidson reiterated a “buy” rating and set a $215.00 target price on shares of Lam Research Corporation in a report on Thursday, October 12th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Lam Research Corporation in a report on Tuesday, August 29th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $187.79.

Lam Research Corporation (NASDAQ:LRCX) opened at 194.55 on Wednesday. The company has a market cap of $31.61 billion, a P/E ratio of 21.06 and a beta of 1.53. Lam Research Corporation has a 52 week low of $93.69 and a 52 week high of $195.49. The company has a 50-day moving average of $175.34 and a 200-day moving average of $156.33.

Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.19. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The firm’s quarterly revenue was up 51.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.81 EPS. On average, equities research analysts predict that Lam Research Corporation will post $12.92 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://ledgergazette.com/2017/10/18/royal-bank-of-canada-increases-lam-research-corporation-lrcx-price-target-to-210-00.html.

In other Lam Research Corporation news, COO Timothy Archer sold 8,691 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $171.76, for a total transaction of $1,492,766.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen G. Newberry sold 1,500 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $162.75, for a total transaction of $244,125.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,169 shares of company stock worth $7,265,304 over the last three months. 0.41% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of LRCX. Odey Holdings AG grew its position in Lam Research Corporation by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 73 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in Lam Research Corporation during the 2nd quarter worth $118,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lam Research Corporation during the 2nd quarter worth $134,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its position in Lam Research Corporation by 358.3% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 860 shares during the last quarter. Finally, Sun Life Financial INC grew its position in Lam Research Corporation by 10,672.7% during the 2nd quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’s stock worth $168,000 after purchasing an additional 1,174 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors.

About Lam Research Corporation

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

Analyst Recommendations for Lam Research Corporation (NASDAQ:LRCX)

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