Lam Research (NASDAQ:LRCX) PT Lowered to $850.00

Lam Research (NASDAQ:LRCX) had its price target decreased by Susquehanna from $880.00 to $850.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price target would indicate a potential downside of 8.14% from the stock’s current price.

A number of other analysts have also recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company boosted their target price on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Lam Research in a research report on Thursday, April 11th. They issued a “hold” rating and a $1,000.00 target price for the company. Stifel Nicolaus upped their price target on shares of Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Evercore ISI began coverage on shares of Lam Research in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price target for the company. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $950.85.

Lam Research Stock Up 2.7 %

Shares of NASDAQ LRCX opened at $925.37 on Thursday. The company has a market cap of $121.32 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 3.20 and a beta of 1.51. The firm’s fifty day moving average is $943.67 and its 200 day moving average is $809.10. Lam Research has a 52 week low of $493.42 and a 52 week high of $1,007.39. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.76%. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business posted $6.99 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts expect that Lam Research will post 28.96 earnings per share for the current year.

Insider Activity

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares in the company, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Lam Research

A number of hedge funds and other institutional investors have recently bought and sold shares of LRCX. Vanguard Group Inc. increased its stake in shares of Lam Research by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 11,711,747 shares of the semiconductor company’s stock valued at $9,173,343,000 after buying an additional 79,581 shares during the period. Fisher Asset Management LLC increased its stake in shares of Lam Research by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after buying an additional 86,721 shares during the period. Morgan Stanley increased its stake in shares of Lam Research by 3.2% during the third quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after buying an additional 56,824 shares during the period. Norges Bank purchased a new position in shares of Lam Research during the fourth quarter valued at $1,414,111,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Lam Research by 10.8% during the third quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after buying an additional 159,815 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

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.