New Buy Rating for Lam Research (LRCX), the Technology Giant

In a report released yesterday, Vivek Arya from Bank of America Securities maintained a Buy rating on Lam Research, with a price target of $285.00. The company’s shares closed yesterday at $237.39.

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According to TipRanks, Arya is a 5-star analyst with an average return of 21.9% and a 61.82% success rate. Arya covers the Technology sector, focusing on stocks such as Nvidia, Analog Devices, and Advanced Micro Devices.

Currently, the analyst consensus on Lam Research is a Strong Buy with an average price target of $283.21, representing a 19.30% upside. In a report released on February 9, Bernstein also maintained a Buy rating on the stock with a $285.00 price target.

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 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. Earlier this month, Eric Brandt, a Director at LRCX sold 35,000.00 shares for a total of $7,896,150.00.