Lam Research (NASDAQ:LRCX - Get Free Report) had its price target dropped by investment analysts at Wells Fargo & Company from $88.00 to $85.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an "equal weight" rating on the semiconductor company's stock. Wells Fargo & Company's price target would suggest a potential upside of 11.74% from the stock's current price.
LRCX has been the topic of a number of other research reports. TD Cowen upped their price target on Lam Research from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Needham & Company LLC reiterated a "buy" rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday. UBS Group reduced their target price on shares of Lam Research from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, September 12th. StockNews.com cut shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Lam Research from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.29.
View Our Latest Research Report on Lam Research
LRCX stock traded up $3.21 during midday trading on Thursday, hitting $76.07. The company's stock had a trading volume of 9,312,035 shares, compared to its average volume of 11,208,240. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 2.78, a PEG ratio of 1.75 and a beta of 1.47. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The stock's 50-day moving average price is $79.60 and its 200 day moving average price is $89.94. Lam Research has a 1 year low of $57.44 and a 1 year high of $113.00.
Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the prior year, the firm earned $6.85 EPS. The company's revenue was up 19.7% compared to the same quarter last year. On average, equities analysts forecast that Lam Research will post 3.52 EPS for the current year.
In other news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares of the company's stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Foster Victor Wealth Advisors LLC raised its holdings in Lam Research by 994.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company's stock worth $190,066,000 after buying an additional 211,614 shares during the last quarter. Swedbank AB purchased a new stake in shares of Lam Research during the first quarter valued at approximately $192,668,000. Van ECK Associates Corp increased its position in shares of Lam Research by 24.6% during the first quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company's stock valued at $940,592,000 after acquiring an additional 191,230 shares in the last quarter. Vanguard Group Inc. raised its holdings in Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company's stock worth $11,519,576,000 after acquiring an additional 144,914 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company's stock valued at $2,875,023,000 after acquiring an additional 142,903 shares in the last quarter. Institutional investors own 84.61% of the company's stock.
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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