Barclays Trims Lam Research (NASDAQ:LRCX) Target Price to $625.00

Lam Research (NASDAQ:LRCXGet Rating) had its price target lowered by investment analysts at Barclays from $700.00 to $625.00 in a report issued on Thursday, The Fly reports. Barclays‘s price target suggests a potential upside of 29.82% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. KeyCorp initiated coverage on shares of Lam Research in a research note on Tuesday, January 25th. They set a “sector weight” rating on the stock. Morgan Stanley decreased their target price on shares of Lam Research from $755.00 to $730.00 and set an “overweight” rating on the stock in a research report on Thursday, January 27th. Evercore ISI decreased their target price on shares of Lam Research from $855.00 to $800.00 and set an “outperform” rating on the stock in a research report on Thursday, January 27th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, March 24th. Finally, Bank of America raised their target price on shares of Lam Research from $675.00 to $785.00 and gave the stock a “buy” rating in a research report on Monday, January 10th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $698.00.

Lam Research stock opened at $481.45 on Thursday. Lam Research has a 12-month low of $451.00 and a 12-month high of $731.85. The stock has a market capitalization of $67.16 billion, a P/E ratio of 15.00, a P/E/G ratio of 0.74 and a beta of 1.24. The firm’s 50-day moving average is $526.07 and its two-hundred day moving average is $594.88. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.13 and a quick ratio of 2.34.

Lam Research (NASDAQ:LRCXGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The semiconductor company reported $7.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $7.52 by ($0.12). Lam Research had a return on equity of 78.38% and a net margin of 27.78%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business earned $7.49 earnings per share. Lam Research’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, analysts forecast that Lam Research will post 32.63 EPS for the current year.

In related news, EVP Richard A. Gottscho sold 537 shares of Lam Research 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott Gerald Meikle sold 700 shares of Lam Research stock in a transaction on Tuesday, February 1st. The stock was 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 have sold 1,937 shares of company stock worth $1,092,843 in the last quarter. Insiders own 0.31% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. K.J. Harrison & Partners Inc acquired a new position in Lam Research in the first quarter worth $538,000. Riverview Trust Co acquired a new position in shares of Lam Research during the first quarter valued at $59,000. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Lam Research by 35.0% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 775 shares of the semiconductor company’s stock worth $417,000 after acquiring an additional 201 shares during the period. Pallas Capital Advisors LLC lifted its position in Lam Research by 7.4% in the 1st quarter. Pallas Capital Advisors LLC now owns 12,828 shares of the semiconductor company’s stock valued at $5,852,000 after purchasing an additional 886 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its stake in Lam Research by 6.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,424 shares of the semiconductor company’s stock valued at $766,000 after purchasing an additional 81 shares during the period. 81.60% of the stock is owned by hedge funds and other 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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