Lam Research (NASDAQ:LRCX) PT Lowered to $950.00 at Mizuho

Lam Research (NASDAQ:LRCX) had its price target decreased by stock analysts at Mizuho from $1,050.00 to $950.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s price target would suggest a potential upside of 23.81% from the company’s current price.

A number of other research analysts have also commented on the company. Wells Fargo & Company decreased their price objective on Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Morgan Stanley lowered their price objective on Lam Research from $929.00 to $774.00 and set an “equal weight” rating for the company in a research report on Tuesday. TD Cowen upped their target price on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. B. Riley lifted their price target on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Citigroup cut their price objective on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a report on Monday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $1,012.84.

Lam Research Price Performance

LRCX traded down $21.79 during trading on Friday, hitting $767.28. The company’s stock had a trading volume of 717,262 shares, compared to its average volume of 1,089,455. The firm’s 50 day moving average price is $842.35 and its two-hundred day moving average price is $927.21. 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 $100.31 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. Lam Research has a 12 month low of $574.42 and a 12 month high of $1,130.00.

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

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

Insider Buying and Selling

In other Lam Research news, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $7,239,346.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Neil J. Fernandes sold 1,620 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now directly owns 5,237 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is owned by insiders.

Institutional Trading of Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the business. Swedbank AB bought a new position in Lam Research during the first quarter worth $192,668,000. Van ECK Associates Corp grew its stake in Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after buying an additional 191,230 shares during the last quarter. Vanguard Group Inc. raised its holdings in Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after acquiring an additional 144,914 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after acquiring an additional 142,903 shares during the last quarter. Finally, Natixis grew its position in shares of Lam Research by 1,267.1% in the first quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock valued at $138,902,000 after purchasing an additional 132,509 shares during the last quarter. 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.