Lam Research (NASDAQ:LRCX) Price Target Cut to $105.00

Lam Research (NASDAQ:LRCX) had its target price dropped by research analysts at B. Riley from $132.50 to $105.00 in a research report issued on Wednesday, MarketBeat.com reports. The firm presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s target price indicates a potential upside of 37.13% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft cut their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. UBS Group dropped their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Cantor Fitzgerald lowered their price target on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, September 30th. Finally, Morgan Stanley reduced their price objective on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Price Performance

Lam Research stock opened at $76.57 on Wednesday. Lam Research has a one year low of $57.44 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The business has a 50 day simple moving average of $79.60 and a 200 day simple moving average of $89.94. The company has a market capitalization of $10.01 billion, a PE ratio of 2.82, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the business earned $6.85 earnings per share. On average, sell-side analysts forecast that Lam Research will post 3.52 EPS for the current fiscal year.

Insider Activity at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research 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 transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Lam Research in the second quarter worth $32,000. RFP Financial Group LLC increased its stake in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Lam Research during the 2nd quarter worth about $40,000. Country Trust Bank acquired a new position in shares of Lam Research during the 2nd quarter worth about $43,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Lam Research in the 2nd quarter valued at about $45,000. 84.61% of the stock is currently owned by institutional investors.

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.