Wells Fargo & Company Lowers Lam Research (NASDAQ:LRCX) Price Target to $525.00

Lam Research (NASDAQ:LRCX – Get Rating) had its price objective cut by research analysts at Wells Fargo & Company from $610.00 to $525.00 in a report issued on Monday, The Fly reports. Wells Fargo & Company‘s target price would indicate a potential upside of 15.09% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. KeyCorp assumed coverage on shares of Lam Research in a report on Tuesday, January 25th. They set a “sector weight” rating on the stock. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Thursday, March 24th. Berenberg Bank boosted their price objective on shares of Lam Research from $790.00 to $840.00 in a research report on Tuesday, January 18th. Susquehanna lowered their price objective on shares of Lam Research from $655.00 to $640.00 and set a “neutral” rating on the stock in a research report on Thursday, January 27th. Finally, Susquehanna Bancshares lowered their price objective on shares of Lam Research from $655.00 to $640.00 and set a “neutral” rating on the stock in a research report on Thursday, January 27th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $711.79.

NASDAQ LRCX opened at $456.16 on Monday. 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 company has a 50-day simple moving average of $533.02 and a 200-day simple moving average of $597.19. The firm has a market capitalization of $63.63 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.74 and a beta of 1.24. Lam Research has a one year low of $455.84 and a one year high of $731.85.

Lam Research (NASDAQ:LRCX – Get Rating) last posted its earnings results on Wednesday, January 26th. The semiconductor company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.46 by $0.07. Lam Research had a net margin of 27.78% and a return on equity of 78.38%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same period in the previous year, the business posted $6.03 EPS. Lam Research’s revenue was up 22.3% on a year-over-year basis. Equities analysts forecast that Lam Research will post 32.63 earnings per share for the current year.

In other Lam Research news, EVP Richard A. Gottscho sold 537 shares of the stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $560.50, for a total value of $300,988.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott Gerald Meikle sold 700 shares of the stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $590.00, for a total transaction of $413,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,937 shares of company stock worth $1,092,843 over the last quarter. 0.31% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Missouri Trust & Investment Co bought a new position in shares of Lam Research during the 4th quarter worth about $25,000. Allegheny Financial Group LTD bought a new position in shares of Lam Research during the 4th quarter worth about $25,000. Vectors Research Management LLC lifted its holdings in shares of Lam Research by 133.3% during the 4th quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 20 shares during the period. Stonebridge Capital Advisors LLC lifted its holdings in shares of Lam Research by 100.0% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 19 shares during the period. Finally, Delos Wealth Advisors LLC bought a new position in shares of Lam Research during the 4th quarter worth about $30,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Lam Research Company Profile (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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