Wells Fargo & Company Has Lowered Expectations for Lam Research (NASDAQ:LRCX) Stock Price

Lam Research (NASDAQ:LRCX) had its target price decreased by research analysts at Wells Fargo & Company from $85.00 to $83.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 8.37% from the stock’s current price.

Several other research analysts have also commented on the company. Sanford C. Bernstein lowered their price target on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Finally, UBS Group cut their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $97.24.

Lam Research Stock Up 1.8 %

Shares of LRCX opened at $76.59 on Friday. The company’s 50-day moving average price is $76.26 and its 200 day moving average price is $86.12. Lam Research has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The firm has a market cap of $98.55 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 1.24 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last released 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 business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $6.85 EPS. On average, sell-side analysts forecast that Lam Research will post 3.52 earnings per share for the current year.

Insiders Place Their Bets

In related 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 value of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 13.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

Several large investors have recently bought and sold shares of the stock. U.S. Capital Wealth Advisors LLC boosted its position in shares of Lam Research by 3.7% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 12 shares during the period. Ignite Planners LLC lifted its stake in Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after buying an additional 12 shares during the last quarter. RFP Financial Group LLC grew its position in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Lam Research by 24.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 62 shares of the semiconductor company’s stock valued at $66,000 after acquiring an additional 12 shares during the period. Finally, TRUE Private Wealth Advisors increased its holdings in shares of Lam Research by 3.4% in the 2nd quarter. TRUE Private Wealth Advisors now owns 390 shares of the semiconductor company’s stock valued at $415,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds 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.