Lam Research (NASDAQ:LRCX – Get Free Report) had its target price reduced by equities researchers at The Goldman Sachs Group from $96.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 13.86% from the company’s previous close.
LRCX has been the subject of a number of other research reports. B. Riley cut their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Citigroup lowered their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Morgan Stanley boosted their price objective on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.65.
Check Out Our Latest Report on Lam Research
Lam Research Stock Performance
Lam Research (NASDAQ:LRCX – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the company posted $6.85 earnings per share. On average, equities analysts expect that Lam Research will post 3.5 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. West Oak Capital LLC increased its holdings in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Fortitude Family Office LLC grew its holdings in Lam Research by 896.7% in the 4th quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 538 shares in the last quarter. Highline Wealth Partners LLC increased its stake in shares of Lam Research by 879.7% in the 4th quarter. Highline Wealth Partners LLC now owns 676 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 607 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Lam Research during the 4th quarter worth $54,000. Finally, Modus Advisors LLC acquired a new position in shares of Lam Research during the 4th quarter valued at about $59,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.
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.
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