B.Riley FBR analyst Craig Ellis reiterated a Buy rating on Lam Research (LRCX) today and set a price target of $365.00. The company’s shares closed last Monday at $298.22, close to its 52-week high of $316.73.
According to TipRanks.com, Ellis is a 5-star analyst with an average return of 7.2% and a 57.0% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, Skyworks Solutions, and Applied Materials.
Currently, the analyst consensus on Lam Research is a Moderate Buy with an average price target of $324.27, implying a 7.3% upside from current levels. In a report issued on January 16, Argus Research also maintained a Buy rating on the stock with a $340.00 price target.
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Lam Research’s market cap is currently $43.27B and has a P/E ratio of 21.97. The company has a Price to Book ratio of 8.75.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LRCX in relation to earlier this year. Most recently, in October 2019, Richard Gottscho, the EVP & CTO of LRCX sold 4,124 shares for a total of $1,138,302.
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Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.
