A share price of Lam Research Corp. [LRCX] is currently trading at $928.81, up 0.37%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The LRCX shares have gain 7.00% over the last week, with a monthly amount drifted -4.40%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Lam Research Corp. [NASDAQ: LRCX] stock has seen the most recent analyst activity on April 25, 2024, when TD Cowen reiterated its Buy rating and also boosted its price target to $1000 from $975. Previously, B. Riley Securities upgraded its rating to Buy on April 19, 2024, and elevated its price target to $1100. On April 18, 2024, Needham reiterated its Buy rating and revised its price target to $1030 on the stock. Evercore ISI started tracking the stock assigning a Outperform rating and suggested a price target of $1200 on April 16, 2024. TD Cowen reiterated a Outperform rating for this stock on January 25, 2024, and upped its price target to $975. In a note dated January 23, 2024, Cantor Fitzgerald initiated an Neutral rating and provided a target price of $830 on this stock.
Lam Research Corp. experienced fluctuations in its stock price throughout the past year between $493.42 and $1007.39. Currently, Wall Street analysts expect the stock to reach $804.77 within the next 12 months. Lam Research Corp. [NASDAQ: LRCX] shares were valued at $928.81 at the most recent close of the market. An investor can expect a potential drop of -13.35% based on the average LRCX price forecast.
Analyzing the LRCX fundamentals
Trailing Twelve Months sales for Lam Research Corp. [NASDAQ:LRCX] were 14.24B which represents -1.96% decline. Gross Profit Margin for this corporation currently stands at 0.47% with Operating Profit Margin at 0.28%, Pretax Profit Margin comes in at 0.29%, and Net Profit Margin reading is 0.25%. To continue investigating profitability, this company’s Return on Assets is posted at 0.2, Equity is 0.44 and Total Capital is 0.29. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.62.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 919.18 points at the first support level, and at 909.55 for the second support level. However, for the 1st resistance point, the stock is sitting at 934.36, and for the 2nd resistance point, it is at 939.91.
Lam Research Corp. [LRCX] reported earnings per share of $7.28 for its fiscal quarter that ended on 3/31/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $6.82/share, meaning a difference of $0.46 and a surprise factor of 6.70%. By comparison, the stated earnings for the previous quarter ended on 12/31/2023 were $7.52 per share as compared to estimates of $7.1 per share, a difference of $0.42 representing a surprise of 5.90%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Lam Research Corp. [NASDAQ:LRCX] is 2.82. As well, the Quick Ratio is 1.84, while the Cash Ratio is 1.28. Considering the valuation of this stock, the price to sales ratio is 8.55, the price to book ratio is 15.14 and price to earnings (TTM) ratio is 34.16.
Transactions by insiders
Recent insider trading involved TALWALKAR ABHIJIT Y, Director, that happened on Apr 01 ’24 when 882.0 shares were sold. CVP, Chief Accounting Officer, Corrreia Christina completed a deal on Apr 01 ’24 to sell 647.0 shares. Meanwhile, Senior Vice President Varadarajan Seshasayee sold 5500.0 shares on Mar 19 ’24.
