.png "Lam Research (NASDAQ: LRCX)")
Susquehanna analyst Mehdi Hosseini reiterated a Buy rating on Lam Research (LRCX) today and set a price target of $330.00. The company’s shares closed last Wednesday at $271.78.
According to TipRanks.com, Hosseini is a 4-star analyst with an average return of 5.6% and a 45.4% success rate. Hosseini covers the Technology sector, focusing on stocks such as Advanced Energy Industries, Keysight Technologies, and National Instruments.
Lam Research has an analyst consensus of Strong Buy, with a price target consensus of $301.89, representing a 18.2% upside. In a report issued on April 8, Stifel Nicolaus also maintained a Buy rating on the stock with a $300.00 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 revenue of $2.58 billion and net profit of $515 million. In comparison, last year the company earned revenue of $2.52 billion and had a net profit of $569 million.
Based on the recent corporate insider activity of 56 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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. The company was founded by David Lam on January 21, 1980 and is headquartered in Fremont, CA.
