Lam Research (NASDAQ:LRCX) PT Lowered to $774.00

Lam Research (NASDAQ:LRCX) had its price objective cut by Morgan Stanley from $929.00 to $774.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price would indicate a potential upside of 2.40% from the stock’s previous close.

A number of other research analysts have also recently commented on LRCX. Needham & Company LLC restated a “buy” rating and set a $1,130.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Wells Fargo & Company lowered their price objective on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. UBS Group lowered their price objective on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Barclays boosted their price objective on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Finally, StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,013.37.

Lam Research Price Performance

LRCX stock opened at $755.87 on Tuesday. Lam Research has a 52-week low of $574.42 and a 52-week high of $1,130.00. The stock’s fifty day simple moving average is $847.76 and its 200-day simple moving average is $928.18. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $98.82 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48.

Shares of Lam Research are going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned $5.98 earnings per share. Equities research analysts expect that Lam Research will post 35.2 EPS for the current year.

Insiders Place Their Bets

In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lam Research news, SVP Neil J. Fernandes sold 1,620 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock worth $17,383,715 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Several large investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. raised its stake in Lam Research by 20.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 412 shares of the semiconductor company’s stock valued at $439,000 after purchasing an additional 70 shares during the period. Heritage Wealth Management Inc. acquired a new position in shares of Lam Research in the second quarter worth $276,000. Sanctuary Advisors LLC acquired a new position in shares of Lam Research in the second quarter worth $18,140,000. NCP Inc. acquired a new position in shares of Lam Research in the second quarter worth $213,000. Finally, Brown Financial Advisors acquired a new position in shares of Lam Research in the second quarter worth $1,489,000. 84.61% of the stock is owned by institutional investors and hedge funds.

About Lam Research

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.