Mizuho Cuts Lam Research (NASDAQ:LRCX) Price Target to $90.00

Lam Research (NASDAQ:LRCX) had its target price decreased by investment analysts at Mizuho from $95.00 to $90.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s price objective would suggest a potential upside of 20.56% from the stock’s current price.

A number of other equities analysts have also weighed in on LRCX. Morgan Stanley upped their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Sanford C. Bernstein decreased their price target on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Finally, Wells Fargo & Company lowered their price objective on shares of Lam Research from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $96.65.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $74.65 on Friday. The company has a 50 day moving average of $74.72 and a 200 day moving average of $81.82. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock has a market cap of $96.05 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.22 and a beta of 1.45. Lam Research has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the business earned $6.85 EPS. As a group, sell-side analysts forecast that Lam Research will post 3.5 EPS for the current fiscal year.

Institutional Trading of Lam Research

Institutional investors have recently made changes to their positions in the stock. West Oak Capital LLC raised its holdings in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 135 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of Lam Research by 896.7% during the fourth quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 538 shares during the last quarter. Highline Wealth Partners LLC boosted its holdings in shares of Lam Research by 879.7% during the fourth quarter. Highline Wealth Partners LLC now owns 676 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 607 shares during the period. Rise Advisors LLC bought a new stake in shares of Lam Research in the fourth quarter worth about $54,000. Finally, Modus Advisors LLC purchased a new position in Lam Research during the 4th quarter valued at about $59,000. Hedge funds and other 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.