Lam Research (NASDAQ:LRCX) Price Target Cut to $880.00 by Analysts at Wells Fargo & Company

Lam Research (NASDAQ:LRCX) had its target price lowered by analysts at Wells Fargo & Company from $1,000.00 to $880.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock.

Several other equities research analysts also recently commented on the company. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. TD Cowen increased their price objective on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Citigroup reduced their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Cantor Fitzgerald reduced their target price on Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday. Finally, UBS Group reduced their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.28.

Lam Research Trading Down 0.6 %

NASDAQ:LRCX traded down $0.47 on Thursday, hitting $80.94. 3,604,830 shares of the stock were exchanged, compared to its average volume of 11,056,193. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 2.97, a P/E/G ratio of 1.51 and a beta of 1.48. Lam Research has a 52 week low of $57.44 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The company’s 50-day moving average price is $95.60 and its 200 day moving average price is $96.91.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.05. The firm had revenue of $3.87 billion during 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 company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. On average, equities research analysts forecast that Lam Research will post 35.2 earnings per share for the current year.

Insider Activity

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Neil J. Fernandes sold 16,200 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now owns 52,370 shares in the company, valued at $5,535,456.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LRCX. Vanguard Group Inc. raised its holdings in Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Lam Research by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after buying an additional 86,721 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Lam Research by 7.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after buying an additional 89,470 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Lam Research by 11.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after acquiring an additional 107,778 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.