Lam Research (NASDAQ:LRCX) PT Lowered to $950.00 at Deutsche Bank Aktiengesellschaft

Lam Research (NASDAQ:LRCX) had its price target decreased by analysts at Deutsche Bank Aktiengesellschaft from $1,100.00 to $950.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 15.45% from the company’s current price.

Other analysts also recently issued research reports about the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,200.00 target price on shares of Lam Research in a research report on Thursday. Stifel Nicolaus raised their target price on shares of Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Susquehanna decreased their target price on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, TD Cowen raised their price objective on Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $1,007.85.

Lam Research Trading Down 10.7 %

Shares of NASDAQ LRCX traded down $98.37 during midday trading on Thursday, reaching $822.87. 1,654,703 shares of the stock were exchanged, compared to its average volume of 1,036,268. Lam Research has a 12 month low of $574.42 and a 12 month high of $1,130.00. The business has a 50-day simple moving average of $1,006.55 and a two-hundred day simple moving average of $945.51. The company has a market capitalization of $107.58 billion, a price-to-earnings ratio of 30.26, a P/E/G ratio of 2.47 and a beta of 1.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.

Shares of Lam Research are going to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research announced that its Board of Directors has approved a share repurchase program on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Lam Research news, insider George M. Schisler sold 400 shares of Lam Research stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $908.21, for a total transaction of $363,284.00. Following the transaction, the insider now directly owns 5,661 shares of the company’s stock, valued at approximately $5,141,376.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the transaction, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider George M. Schisler sold 400 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total value of $363,284.00. Following the completion of the sale, the insider now directly owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,726 shares of company stock valued at $17,746,999. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Hedge funds have recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Lam Research during the 2nd quarter valued at $32,000. RFP Financial Group LLC lifted its holdings in shares of Lam Research by 52.2% during the 2nd 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. DSM Capital Partners LLC bought a new position in Lam Research in the fourth quarter valued at $28,000. Hobbs Group Advisors LLC bought a new stake in Lam Research during the second quarter worth about $40,000. Finally, Partnership Wealth Management LLC purchased a new position in shares of Lam Research in the 4th quarter worth about $33,000. Hedge funds and other institutional investors 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.