Lam Research Receives a New Rating from Top Analyst

By Ryan Adsit

In a report released yesterday, Amit Daryanani from RBC Capital reiterated a Buy rating on Lam Research (NASDAQ: LRCX), with a price target of $140. The company’s shares closed yesterday at $127.33.

According to TipRanks.com, Daryanani is a top 25 analyst with an average return of 21.2% and a 81.5% success rate. Daryanani covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Benchmark Electronics, and Applied Materials.

Currently, the analyst consensus on Lam Research is Strong Buy and the average price target is $137, representing a 7.6% upside.

In a report released yesterday, Cowen & Co. also reiterated a Buy rating on the stock with a $125 price target.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock. Last month, Sarah O’dowd, the SVP, Chief Legal Officer of LRCX sold 6,459 shares for a total of $759,976.

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 the manufacture and service of wafer processing semiconductor manufacturing equipment. Its products include front-end wafer processing, back-end wafer-level packaging, and other related products. The company also designs, manufactures, markets, refurbishes, and services semiconductor processing systems that are used in the fabrication of integrated circuits. Lam Research was founded by David Lam on January 21, 1980 and is headquartered in Fremont, CA.