Lam Research (NASDAQ:LRCX) Price Target Cut to $1,000.00

Lam Research (NASDAQ:LRCX) had its target price cut by equities research analysts at Cantor Fitzgerald from $1,200.00 to $1,000.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 25.41% from the stock’s current price.

Several other brokerages have also recently issued reports on LRCX. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Needham & Company LLC reiterated a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a report on Thursday, August 1st. B. Riley boosted their price objective on shares of Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $1,002.32.

Lam Research Stock Performance

LRCX opened at $797.38 on Monday. Lam Research has a 12-month low of $574.42 and a 12-month high of $1,130.00. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $104.25 billion, a PE ratio of 29.33, a P/E/G ratio of 1.51 and a beta of 1.48. The firm has a 50 day moving average of $811.37 and a two-hundred day moving average of $918.60.

Shares of Lam Research are going to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. 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 analysts’ expectations of $3.82 billion. During the same quarter last year, the company earned $5.98 EPS. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, analysts anticipate that Lam Research will post 35.2 EPS for the current year.

Insider Activity at Lam Research

In other news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

Several large investors have recently modified their holdings of LRCX. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research during the second quarter worth approximately $32,000. RFP Financial Group LLC raised its stake in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Lam Research by 78.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 22 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Lam Research during the second quarter worth approximately $40,000. Finally, Country Trust Bank purchased a new position in Lam Research in the second quarter worth $43,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.