After Merrill Lynch and Argus Research gave Lam Research (NASDAQ: LRCX) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Mitch Steves maintained a Buy rating on Lam Research today and set a price target of $350.00. The company’s shares closed last Monday at $298.22, close to its 52-week high of $316.73.
According to TipRanks.com, Steves is a top 100 analyst with an average return of 26.0% and a 77.8% success rate. Steves covers the Consumer Goods sector, focusing on stocks such as Dialog Semiconductor, Applied Materials, and Texas Instruments.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lam Research with a $331.47 average price target, which is a 9.7% 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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The company has a one-year high of $316.73 and a one-year low of $163.60. Currently, Lam Research has an average volume of 1.39M.
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.
