Lam Research (NASDAQ:LRCX) PT Lowered to $950.00

Lam Research (NASDAQ:LRCX) had its price objective lowered by analysts at Mizuho from $1,050.00 to $950.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s target price would suggest a potential upside of 22.87% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Citigroup dropped their price objective on shares of Lam Research from $990.00 to $893.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $1,200.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Wells Fargo & Company decreased their target price on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus price target of $1,012.84.

Lam Research Price Performance

LRCX stock opened at $773.19 on Friday. The firm has a market cap of $101.09 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.48 and a beta of 1.48. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research has a 12-month low of $574.42 and a 12-month high of $1,130.00. The company’s fifty day simple moving average is $836.41 and its 200 day simple moving average is $925.53.

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

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating the consensus estimate of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the prior year, the business earned $5.98 earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts expect that Lam Research will post 35.2 earnings per share for the current year.

Insider Activity

In other news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction 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 approximately $90,596,739.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction 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 approximately $90,596,739.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Neil J. Fernandes sold 4,409 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the transaction, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The disclosure for this sale can be found here. Insiders sold 16,326 shares of company stock valued at $17,383,715 in the last three months. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

Institutional investors have recently modified their holdings of the business. Cypress Capital Group lifted its stake in shares of Lam Research by 23.1% during the 2nd quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock valued at $3,757,000 after buying an additional 661 shares in the last quarter. Symmetry Investments LP purchased a new stake in shares of Lam Research during the 2nd quarter valued at approximately $3,229,000. Meeder Advisory Services Inc. lifted its stake in shares of Lam Research by 29.4% during the 2nd quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock valued at $3,218,000 after buying an additional 686 shares in the last quarter. Brookstone Capital Management lifted its stake in shares of Lam Research by 142.6% during the 2nd quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock valued at $1,705,000 after buying an additional 941 shares in the last quarter. Finally, FineMark National Bank & Trust lifted its stake in Lam Research by 14.5% in the 2nd quarter. FineMark National Bank & Trust now owns 474 shares of the semiconductor company’s stock worth $505,000 after purchasing an additional 60 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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.