Lam Research (NASDAQ:LRCX - Get Free Report) had its price target dropped by equities researchers at Bank of America from $110.00 to $90.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Bank of America's price target would suggest a potential upside of 41.15% from the stock's previous close.
A number of other brokerages also recently weighed in on LRCX. Stifel Nicolaus cut their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday. Wolfe Research downgraded Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Wells Fargo & Company raised their price objective on shares of Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Oppenheimer reduced their target price on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, The Goldman Sachs Group lowered their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.87.
Check Out Our Latest Stock Report on LRCX
Lam Research Trading Down 2.1 %
Lam Research stock traded down $1.38 during mid-day trading on Wednesday, hitting $63.76. 13,845,188 shares of the stock were exchanged, compared to its average volume of 12,150,980. The firm's fifty day simple moving average is $74.79 and its two-hundred day simple moving average is $75.96. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research has a 12 month low of $56.32 and a 12 month high of $113.00. The stock has a market capitalization of $81.85 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.47 and a beta of 1.52.
Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Analysts forecast that Lam Research will post 3.71 EPS for the current year.
Insider Buying and Selling
In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.
Hedge Funds Weigh In On Lam Research
A number of large investors have recently made changes to their positions in LRCX. Financial Perspectives Inc raised its position in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Fairway Wealth LLC increased its stake in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Lam Research during the fourth quarter worth $27,000. Midwest Capital Advisors LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at $27,000. Finally, West Paces Advisors Inc. acquired a new position in shares of Lam Research in the 4th quarter valued at $27,000. 84.61% of the stock is owned by institutional investors and hedge funds.
Lam Research Company Profile
(
Get Free Report)
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.
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