TD Cowen Cuts Lam Research (NASDAQ:LRCX) Price Target to $100.00

Lam Research (NASDAQ:LRCX - Get Free Report) had its price target dropped by analysts at TD Cowen from $110.00 to $100.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. TD Cowen's target price suggests a potential upside of 40.02% from the stock's current price.

A number of other research analysts have also recently issued reports on LRCX. Jefferies Financial Group lifted their price objective on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Stifel Nicolaus lowered their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Oppenheimer cut their price objective on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Mizuho lifted their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target for the company in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and an average target price of $92.70.

Lam Research Stock Up 0.7 %

LRCX stock traded up $0.52 during midday trading on Thursday, hitting $71.42. The stock had a trading volume of 9,749,642 shares, compared to its average volume of 12,130,700. Lam Research has a 52-week low of $56.32 and a 52-week high of $113.00. The firm has a market cap of $91.68 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business has a 50-day moving average of $73.15 and a two-hundred day moving average of $75.43.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities research analysts forecast that Lam Research will post 3.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.

Institutional Trading of Lam Research

A number of large investors have recently made changes to their positions in the business. Fairway Wealth LLC raised its position in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares during the period. Financial Perspectives Inc grew its holdings in Lam Research by 908.8% during 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. Smallwood Wealth Investment Management LLC purchased a new stake in Lam Research in the 1st quarter worth about $26,000. Atwood & Palmer Inc. bought a new stake in Lam Research in the fourth quarter worth about $27,000. Finally, West Paces Advisors Inc. purchased a new position in shares of Lam Research during the fourth quarter valued at approximately $27,000. 84.61% of the stock is currently owned by institutional investors.

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.