Lam Research (NASDAQ:LRCX) Price Target Lowered to $880.00 at Wells Fargo & Company

Lam Research (NASDAQ:LRCX) had its price target reduced by analysts at Wells Fargo & Company from $1,000.00 to $880.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock.

LRCX has been the topic of a number of other research reports. Citigroup cut their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Mizuho dropped their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $113.00 price target on shares of Lam Research 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 research report on Friday, July 26th. Finally, B. Riley upped their price target on shares of Lam Research from $113.00 to $132.50 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $141.28.

Lam Research Stock Performance

Shares of LRCX opened at $81.54 on Thursday. 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 has a twelve month low of $57.44 and a twelve month high of $113.00. The firm’s 50 day moving average price is $95.29 and its two-hundred day moving average price is $96.72. The firm has a market cap of $10.66 billion, a P/E ratio of 3.00, a PEG ratio of 1.51 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last announced 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 business had revenue of $3.87 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, analysts forecast that Lam Research will post 35.2 EPS for the current fiscal year.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Neil J. Fernandes sold 16,200 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $105.70, for a total value of $1,712,323.80. Following the transaction, the senior vice president now directly owns 52,370 shares in the company, valued at approximately $5,535,456.63. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the company. Symmetry Investments LP bought a new stake in Lam Research during the second quarter worth about $3,229,000. 3Chopt Investment Partners LLC bought a new stake in Lam Research during the second quarter worth about $1,105,000. Brown Financial Advisors bought a new stake in Lam Research during the second quarter worth about $1,489,000. Cypress Capital Group lifted its position in Lam Research by 23.1% during the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock worth $3,757,000 after purchasing an additional 661 shares during the period. Finally, Albar Capital Ltd bought a new stake in Lam Research during the second quarter worth about $3,123,000. 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.