Lam Research (LRCX) Receives a Rating Update from a Top Analyst

In a report released yesterday, Timothy Arcuri from UBS maintained a Buy rating on Lam Research, with a price target of $310.00.

Claim 30% Off TipRanks

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
• Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks

According to TipRanks, Arcuri is a top 25 analyst with an average return of 44.5% and a 78.88% success rate. Arcuri covers the Technology sector, focusing on stocks such as Micron, Nvidia, and Broadcom.

In addition to UBS, Lam Research also received a Buy from Stifel Nicolaus’s Brian Chin in a report issued yesterday. However, on April 6, Morgan Stanley maintained a Hold rating on Lam Research (NASDAQ: LRCX).

Based on Lam Research’s latest earnings release for the quarter ending December 28, the company reported a quarterly revenue of $5.34 billion and a net profit of $1.59 billion. In comparison, last year the company earned a revenue of $4.38 billion and had a net profit of $1.19 billion

Based on the recent corporate insider activity of 52 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. Last month, Douglas Bettinger, the CFO & EVP of LRCX sold 50,057.00 shares for a total of $11,214,269.71.