Barclays Lowers Lam Research (NASDAQ:LRCX) Price Target to $70.00

Lam Research (NASDAQ:LRCX - Get Free Report) had its target price decreased by research analysts at Barclays from $75.00 to $70.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the semiconductor company's stock. Barclays's price target would indicate a potential upside of 10.39% from the stock's current price.

Several other analysts also recently weighed in on LRCX. Sanford C. Bernstein upgraded Lam Research from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $85.00 to $91.00 in a research report on Thursday, January 30th. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, January 30th. Wells Fargo & Company lifted their target price on Lam Research from $82.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $93.63.

Lam Research Trading Up 1.6 %

NASDAQ:LRCX traded up $1.02 during midday trading on Tuesday, hitting $63.41. 2,547,567 shares of the company traded hands, compared to its average volume of 12,117,398. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm's fifty day moving average is $74.41 and its 200-day moving average is $75.76. The firm has a market capitalization of $81.40 billion, a P/E ratio of 19.29, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research has a 12-month low of $56.32 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, sell-side analysts predict that Lam Research will post 3.71 EPS for the current year.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On Lam Research

Large investors have recently modified their holdings of the business. Financial Perspectives Inc increased its holdings in shares of Lam Research by 908.8% in the fourth 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 fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Lam Research during the 4th quarter worth $27,000. Midwest Capital Advisors LLC purchased a new stake in Lam Research in the fourth quarter valued at approximately $27,000. Finally, West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

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.

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