Mizuho Securities analyst Vijay Rakesh upgraded Lam Research (LRCX) to Buy today and set a price target of $260.00. The company’s shares closed last Monday at $194.71, close to its 52-week low of $171.04.
According to TipRanks.com, Rakesh is a 5-star analyst with an average return of 11.7% and a 52.4% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Applied Materials, and Texas Instruments.
Lam Research has an analyst consensus of Moderate Buy, with a price target consensus of $325.83, a 71.0% upside from current levels. In a report issued on March 4, B.Riley FBR also maintained a Buy rating on the stock with a $365.00 price target.
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Based on Lam Research’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $515 million. In comparison, last year the company had a net profit of $569 million.
Based on the recent corporate insider activity of 55 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.
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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.
