Needham Reaffirms Their Buy Rating on Lam Research (LRCX)


Needham analyst Quinn Bolton reiterated a Buy rating on Lam Research (LRCX) today and set a price target of $250. The company’s shares closed last Monday at $234.87, close to its 52-week high of $236.34.

According to TipRanks.com, Bolton is a top 100 analyst with an average return of 18.4% and a 69.4% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Applied Materials Inc, and Ultra Clean Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lam Research with a $225.67 average price target, which is a -4.0% downside from current levels. In a report issued on September 3, Evercore ISI also upgraded the stock to Buy with a $250 price target.

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The company has a one-year high of $236.34 and a one-year low of $122.64. Currently, Lam Research has an average volume of 1.73M.

Based on the recent corporate insider activity of 50 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.

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