Lam Research (NASDAQ:LRCX) Given New $92.00 Price Target at Stifel Nicolaus

Lam Research (NASDAQ:LRCX - Get Free Report) had its price objective reduced by stock analysts at Stifel Nicolaus from $100.00 to $92.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Stifel Nicolaus' price objective would indicate a potential upside of 44.29% from the stock's previous close.

Several other research firms have also issued reports on LRCX. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and upped their price objective for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. 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 report on Friday, January 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Barclays lowered their price target on shares of Lam Research from $90.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Finally, Oppenheimer decreased their target price on Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $93.87.

Lam Research Stock Down 2.1 %

NASDAQ:LRCX traded down $1.38 on Tuesday, hitting $63.76. 13,845,188 shares of the company's stock were exchanged, compared to its average volume of 12,150,980. The company has a market cap of $81.85 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The firm has a 50-day moving average price of $74.79 and a 200-day moving average price of $75.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research has a 52 week low of $56.32 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data 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 return on equity of 51.86% and a net margin of 26.49%. As a group, analysts expect that Lam Research will post 3.71 EPS for the current fiscal year.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company's 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 completion of the transaction, the senior vice president now owns 179,084 shares of the company's stock, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parisi Gray Wealth Management raised its stake in shares of Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company's stock valued at $603,000 after acquiring an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY acquired a new position in Lam Research during the 4th quarter worth about $815,000. Centerpoint Advisors LLC grew its position in shares of Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after buying an additional 900 shares during the last quarter. Transform Wealth LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at about $17,269,000. Finally, E. Ohman J or Asset Management AB acquired a new position in shares of Lam Research in the fourth quarter worth approximately $4,258,000. Institutional investors and hedge funds 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.