Lam Research (NASDAQ:LRCX - Get Free Report) had its price target decreased by investment analysts at The Goldman Sachs Group from $96.00 to $85.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. The Goldman Sachs Group's target price suggests a potential upside of 13.86% from the stock's previous close.
LRCX has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Stifel Nicolaus restated a "buy" rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. B. Riley reduced their price target on Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. UBS Group dropped their price objective on Lam Research from $125.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, September 12th. Finally, Mizuho reduced their target price on Lam Research from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average target price of $96.65.
Check Out Our Latest Report on Lam Research
Lam Research Stock Performance
Shares of NASDAQ:LRCX traded down $2.39 on Friday, hitting $74.65. 11,951,038 shares of the company were exchanged, compared to its average volume of 10,626,868. The stock's 50 day moving average price is $74.72 and its 200 day moving average price is $81.96. Lam Research has a 1-year low of $68.87 and a 1-year high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $96.05 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.
Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm's quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm posted $6.85 earnings per share. Sell-side analysts predict that Lam Research will post 3.5 EPS for the current year.
Hedge Funds Weigh In On Lam Research
A number of institutional investors have recently bought and sold shares of LRCX. West Oak Capital LLC increased its holdings in shares of Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock worth $29,000 after buying an additional 135 shares during the last quarter. Graypoint LLC grew its position in Lam Research by 969.5% in the fourth quarter. Graypoint LLC now owns 9,829 shares of the semiconductor company's stock worth $710,000 after acquiring an additional 8,910 shares during the period. Highline Wealth Partners LLC increased its stake in Lam Research by 879.7% during the fourth quarter. Highline Wealth Partners LLC now owns 676 shares of the semiconductor company's stock worth $49,000 after acquiring an additional 607 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Lam Research by 334.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 20,401 shares of the semiconductor company's stock valued at $1,474,000 after purchasing an additional 15,700 shares during the period. Finally, CCM Investment Advisers LLC lifted its stake in shares of Lam Research by 891.8% in the 4th quarter. CCM Investment Advisers LLC now owns 48,360 shares of the semiconductor company's stock valued at $3,493,000 after purchasing an additional 43,484 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.
About Lam Research
(
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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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