Lam Research (NASDAQ:LRCX) PT Lowered to $675.00 at Mizuho

Lam Research (NASDAQ:LRCXGet Rating) had its target price decreased by investment analysts at Mizuho from $725.00 to $675.00 in a report issued on Thursday, The Fly reports. Mizuho’s target price suggests a potential upside of 40.20% from the company’s current price.

Several other equities analysts have also weighed in on LRCX. Susquehanna Bancshares reduced their price objective on Lam Research from $655.00 to $640.00 and set a “neutral” rating for the company in a report on Thursday, January 27th. Piper Sandler increased their price objective on Lam Research from $597.00 to $627.00 and gave the company a “neutral” rating in a report on Thursday, January 27th. Wells Fargo & Company reduced their price objective on Lam Research from $610.00 to $525.00 and set an “equal weight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their target price on Lam Research from $650.00 to $560.00 and set a “hold” rating on the stock in a research report on Wednesday, April 13th. Finally, Jefferies Financial Group initiated coverage on Lam Research in a research report on Wednesday, January 5th. They set a “buy” rating and a $869.00 target price on the stock. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $698.00.

LRCX opened at $481.45 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.13 and a quick ratio of 2.34. The company’s 50-day moving average is $526.07 and its 200 day moving average is $594.88. Lam Research has a fifty-two week low of $451.00 and a fifty-two week high of $731.85. The firm has a market capitalization of $67.16 billion, a P/E ratio of 15.00, a PEG ratio of 0.74 and a beta of 1.24.

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

In related news, SVP Scott Gerald Meikle sold 700 shares of the firm’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $541.22, for a total value of $378,854.00. Following the sale, the senior vice president now directly owns 20,425 shares of the company’s stock, valued at $11,054,418.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard A. Gottscho sold 537 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $560.50, for a total value of $300,988.50. The disclosure for this sale can be found here. Insiders have sold 1,937 shares of company stock worth $1,092,843 over the last ninety days. Insiders own 0.31% of the company’s stock.

A number of institutional investors have recently bought and sold shares of LRCX. M&G Investment Management Ltd. boosted its position in shares of Lam Research by 28.2% during the fourth quarter. M&G Investment Management Ltd. now owns 111,974 shares of the semiconductor company’s stock valued at $80,509,000 after purchasing an additional 24,641 shares in the last quarter. Maverick Capital Ltd. raised its holdings in Lam Research by 57.3% in the third quarter. Maverick Capital Ltd. now owns 270,922 shares of the semiconductor company’s stock worth $154,195,000 after purchasing an additional 98,641 shares in the last quarter. State of Michigan Retirement System raised its holdings in Lam Research by 4.8% in the fourth quarter. State of Michigan Retirement System now owns 38,769 shares of the semiconductor company’s stock worth $27,881,000 after purchasing an additional 1,784 shares in the last quarter. Laffer Tengler Investments raised its holdings in Lam Research by 18.3% in the third quarter. Laffer Tengler Investments now owns 6,977 shares of the semiconductor company’s stock worth $3,971,000 after purchasing an additional 1,081 shares in the last quarter. Finally, Keybank National Association OH raised its holdings in Lam Research by 4.4% in the third quarter. Keybank National Association OH now owns 4,163 shares of the semiconductor company’s stock worth $2,369,000 after purchasing an additional 175 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

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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