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

Lam Research (NASDAQ:LRCX) had its price objective reduced by stock analysts at B. Riley from $132.50 to $105.00 in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target suggests a potential upside of 37.13% from the stock’s previous close.

LRCX has been the subject of several other research reports. Mizuho cut their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Wells Fargo & Company decreased their price target on shares of Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft cut 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 report on Thursday, August 1st. Morgan Stanley decreased their target price on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Finally, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Stock Performance

Shares of LRCX opened at $76.57 on Wednesday. The company has a market cap of $10.01 billion, a PE ratio of 2.82, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The firm has a 50-day moving average of $79.60 and a 200-day moving average of $89.94. Lam Research has a one year low of $57.44 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the company posted $6.85 earnings per share. As a group, equities analysts forecast that Lam Research will post 3.52 earnings per share for the current year.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Foster Victor Wealth Advisors LLC grew its position in Lam Research by 994.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after acquiring an additional 211,614 shares during the last quarter. Swedbank AB acquired a new stake in shares of Lam Research during the first quarter valued at about $192,668,000. Van ECK Associates Corp grew its holdings 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 worth $940,592,000 after purchasing an additional 191,230 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings 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 buying an additional 142,903 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

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.