In a report released yesterday, Vijay Rakesh from Mizuho Securities reiterated a Buy rating on Lam Research (LRCX), with a price target of $410.00. The company’s shares closed last Wednesday at $366.62, close to its 52-week high of $387.70.
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 21.8% and a 66.8% success rate. Rakesh covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Skyworks Solutions.
Currently, the analyst consensus on Lam Research is a Strong Buy with an average price target of $404.47.
See today’s analyst top recommended stocks >>
Lam Research’s market cap is currently $52.75B and has a P/E ratio of 24.10. The company has a Price to Book ratio of 14.94.
Based on the recent corporate insider activity of 63 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 August 2020, Richard Gottscho, the EVP & CTO of LRCX sold 5,293 shares for a total of $2,035,264.
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.
