Lam Research (NASDAQ:LRCX) Price Target Cut to $560.00

Lam Research (NASDAQ:LRCXGet Rating) had its price target decreased by stock analysts at Deutsche Bank Aktiengesellschaft from $650.00 to $560.00 in a research note issued on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 19.91% from the company’s current price.

Several other research firms also recently issued reports on LRCX. Susquehanna decreased their price objective on shares of Lam Research from $655.00 to $640.00 and set a “neutral” rating on the stock in a report on Thursday, January 27th. Piper Sandler raised their price target on Lam Research from $597.00 to $627.00 and gave the stock a “neutral” rating in a research report on Thursday, January 27th. Wells Fargo & Company boosted their price objective on Lam Research from $575.00 to $660.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 21st. B. Riley reduced their price objective on shares of Lam Research from $750.00 to $725.00 in a research report on Thursday, January 27th. Finally, Mizuho dropped their price objective on shares of Lam Research from $770.00 to $725.00 in a research note on Thursday, January 27th. Thirteen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $718.96.

Shares of LRCX stock opened at $467.00 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.34 and a current ratio of 3.13. The firm has a market capitalization of $65.15 billion, a P/E ratio of 14.55, a P/E/G ratio of 0.80 and a beta of 1.24. The stock has a 50 day moving average price of $540.10 and a 200 day moving average price of $599.69. Lam Research has a 52-week low of $464.77 and a 52-week high of $731.85.

Lam Research (NASDAQ:LRCXGet Rating) last released its quarterly earnings results on Wednesday, January 26th. The semiconductor company reported $8.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.46 by $0.07. Lam Research had a net margin of 27.78% and a return on equity of 78.38%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period in the previous year, the company earned $6.03 earnings per share. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, sell-side analysts forecast that Lam Research will post 32.72 EPS for the current year.

In other Lam Research news, SVP Seshasayee Varadarajan sold 10,000 shares of the stock in a transaction dated Thursday, January 13th. The stock was sold at an average price of $712.50, for a total transaction of $7,125,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott Gerald Meikle sold 700 shares of Lam Research stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $541.22, for a total transaction of $378,854.00. The disclosure for this sale can be found here. Insiders have sold 11,937 shares of company stock worth $8,217,843 over the last quarter. 0.31% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Lam Research by 0.7% in the third quarter. BlackRock Inc. now owns 11,313,232 shares of the semiconductor company’s stock valued at $6,438,927,000 after acquiring an additional 76,201 shares in the last quarter. State Street Corp raised its holdings in shares of Lam Research by 1.8% during the 4th quarter. State Street Corp now owns 5,958,050 shares of the semiconductor company’s stock worth $4,293,537,000 after buying an additional 103,296 shares in the last quarter. Geode Capital Management LLC raised its stake in Lam Research by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,327,529 shares of the semiconductor company’s stock worth $1,321,242,000 after acquiring an additional 29,491 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Lam Research by 3.3% in the 4th quarter. Fisher Asset Management LLC now owns 1,802,042 shares of the semiconductor company’s stock valued at $1,295,939,000 after purchasing an additional 57,739 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Lam Research by 0.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,782,657 shares of the semiconductor company’s stock valued at $1,281,998,000 after acquiring an additional 5,996 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

About Lam Research (Get Rating)

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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