Lam Research (NASDAQ:LRCX) PT Lowered to $880.00

Lam Research (NASDAQ:LRCX) had its target price decreased by investment 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 brokerage presently has an “equal weight” rating on the semiconductor company’s stock.

Several other equities analysts also recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $113.00 price target on shares of Lam Research in a report on Thursday, August 1st. Morgan Stanley cut their price target on shares of Lam Research from $92.90 to $77.40 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. Citigroup cut their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, Mizuho cut their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Five analysts have rated the stock with a hold rating and fifteen have issued 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 $141.28.

Lam Research Price Performance

NASDAQ:LRCX opened at $81.54 on Thursday. The company has a 50-day moving average of $95.29 and a 200-day moving average of $96.72. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 3.00, a PEG ratio of 1.51 and a beta of 1.47. 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.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. As a group, equities research analysts anticipate that Lam Research will post 35.2 earnings per share for the current fiscal year.

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred 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 in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Neil J. Fernandes sold 16,200 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 52,370 shares in the company, valued at approximately $5,535,456.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares during the period. Fisher Asset Management LLC grew its holdings in Lam Research by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after purchasing an additional 86,721 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Lam Research by 5.1% in the first 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 buying an additional 142,903 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Lam Research by 7.7% in 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 in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Lam Research by 11.1% in the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after buying an additional 107,778 shares in the last quarter. Institutional investors and hedge funds 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.