Lam Research (NASDAQ:LRCX) PT Lowered to $105.00 at B. Riley

Lam Research (NASDAQ:LRCX) had its target price cut by analysts at B. Riley from $132.50 to $105.00 in a report released on Wednesday. The firm presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price objective indicates a potential upside of 44.13% from the company’s current price.

A number of other equities research analysts also recently weighed in on LRCX. Cantor Fitzgerald lowered their target price on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Needham & Company LLC restated a “buy” rating and issued a $113.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Mizuho lowered their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, TD Cowen boosted their price objective on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $139.82.

Lam Research Stock Performance

NASDAQ:LRCX traded down $0.15 on Wednesday, reaching $72.85. 5,962,517 shares of the company’s stock were exchanged, compared to its average volume of 11,146,238. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 2.68, a P/E/G ratio of 1.75 and a beta of 1.47. Lam Research has a 52 week low of $57.44 and a 52 week high of $113.00. The stock has a fifty day simple moving average of $79.82 and a 200-day simple moving average of $90.11.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 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 $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, sell-side analysts predict that Lam Research will post 3.52 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lam Research

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dakota Wealth Management lifted its stake in shares of Lam Research by 49.3% in the 3rd quarter. Dakota Wealth Management now owns 1,624 shares of the semiconductor company’s stock worth $1,325,000 after purchasing an additional 536 shares during the period. Jackson Wealth Management LLC lifted its stake in shares of Lam Research by 65.1% in the 3rd quarter. Jackson Wealth Management LLC now owns 9,974 shares of the semiconductor company’s stock worth $8,140,000 after purchasing an additional 3,934 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Lam Research by 38.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,124 shares of the semiconductor company’s stock worth $2,549,000 after purchasing an additional 870 shares during the period. Greenleaf Trust lifted its stake in shares of Lam Research by 57.2% in the 3rd quarter. Greenleaf Trust now owns 5,334 shares of the semiconductor company’s stock worth $4,353,000 after purchasing an additional 1,940 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in shares of Lam Research by 37.1% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 780 shares of the semiconductor company’s stock worth $637,000 after purchasing an additional 211 shares during the period. Institutional investors own 84.61% of the company’s stock.

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.