UBS Group Lowers Lam Research (NASDAQ:LRCX) Price Target to $90.00

Lam Research (NASDAQ:LRCX - Get Free Report) had its price target reduced by equities research analysts at UBS Group from $95.00 to $90.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. UBS Group's target price would indicate a potential upside of 41.15% from the stock's previous close.

LRCX has been the subject of a number of other reports. Mizuho increased their price target on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Barclays decreased 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 research note on Friday, January 17th. Wolfe Research downgraded shares of Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Oppenheimer lowered their price target on shares of 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 reduced their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.87.

Lam Research Price Performance

Shares of Lam Research stock traded down $1.38 during trading hours on Monday, hitting $63.76. The company's stock had a trading volume of 13,845,188 shares, compared to its average volume of 12,150,980. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research has a 12-month low of $56.32 and a 12-month high of $113.00. The business has a 50 day moving average price of $74.79 and a two-hundred day moving average price of $75.96. The company has a market cap of $81.85 billion, a PE ratio of 19.37, a PEG ratio of 1.47 and a beta of 1.52.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Analysts expect that Lam Research will post 3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company'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 sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lam Research

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after buying an additional 108,619,564 shares in the last quarter. FMR LLC lifted its stake in shares of Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC boosted its position in Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Finally, Norges Bank purchased a new position in Lam Research in the fourth quarter valued at about $1,661,672,000. 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.