Lam Research (NASDAQ:LRCX) Stock Price Target Lowered at Needham & Company LLC

Lam Research (NASDAQ:LRCX) had its price objective cut by analysts at Needham & Company LLC from $390.00 to $290.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target indicates a potential upside of 11.19% from the company’s previous close.

Several other analysts have also issued reports on the company. Jefferies Financial Group set a $335.00 target price on Lam Research and gave the stock a “buy” rating in a research note on Thursday, July 30th. Citigroup reissued a “buy” rating on shares of Lam Research in a research note on Thursday. Fundamental Research set a $390.00 price objective on shares of Lam Research in a report on Thursday, October 1st. UBS Group lowered their price objective on shares of Lam Research from $435.00 to $425.00 and set a “buy” rating for the company in a report on Tuesday, September 1st. Finally, Weiss Ratings cut shares of Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $361.85.

Lam Research Trading Down 1.0%

Shares of LRCX stock opened at $260.81 on Thursday. The company has a quick ratio of 1.91, a current ratio of 2.63 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $306.08 and a two-hundred day moving average price of $309.80. Lam Research has a 12-month low of $135.50 and a 12-month high of $438.50. The firm has a market cap of $326.38 billion, a P/E ratio of 45.28, a price-to-earnings-growth ratio of 0.96 and a beta of 1.85.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.18 by $0.02. The firm had revenue of $8.22 billion for the quarter, compared to analyst estimates of $8.14 billion. Lam Research had a return on equity of 67.60% and a net margin of 31.27%. The company’s revenue was up 54.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.26 EPS. Equities analysts anticipate that Lam Research will post 9.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bethany Mayer sold 9,557 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the sale, the director owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. This represents a 31.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ava Harter sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the completion of the transaction, the insider owned 42,462 shares in the company, valued at $12,843,056.52. This represents a 10.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Several institutional investors have recently added to or reduced their stakes in LRCX. Paladin Partners LLC bought a new position in shares of Lam Research during the second quarter valued at about $26,000. Dakota Community Bank & Trust NA purchased a new position in Lam Research during the 3rd quarter valued at about $33,000. Quintet Private Bank Europe S.A. increased its holdings in Lam Research by 100.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 100 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 50 shares during the period. Bravera Wealth purchased a new position in Lam Research during the 2nd quarter valued at about $46,000. Finally, Cedar Mountain Advisors LLC raised its position in Lam Research by 242.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

More Lam Research News

Here are the key news stories impacting Lam Research this week:

• Positive Sentiment: Lam Research reported fiscal Q1 revenue of $8.22 billion, up 54.4% year over year, and adjusted earnings of $2.20 per share. Both figures narrowly exceeded Wall Street expectations of $8.14 billion and $2.18 per share. Lam Research financial results
• Positive Sentiment: Management guided for approximately $8.6 billion in next-quarter revenue, broadly in line with analyst forecasts, while continuing to see strong demand from AI infrastructure and memory-chip customers. Lam Research results and guidance
• Positive Sentiment: Longer-term growth opportunities include expected cumulative Aether dry-resist revenue of $2.5 billion and more than 30% annual growth in the Customer Support Business Group. Lam Research long-term investor takeaways
• Neutral Sentiment: The earnings beat was relatively small, and the next-quarter outlook largely matched expectations rather than raising forecasts. That limited the potential for a positive surprise after the stock’s substantial prior rally. Lam Research outlook
• Negative Sentiment: Supply constraints are preventing Lam from fully converting demand into sales, while management expects China’s revenue contribution to fall substantially from 35% in September. These issues raise concerns about near-term growth and regional exposure. Lam Research supply and China update
• Negative Sentiment: The results reignited fears that AI infrastructure spending and semiconductor capital expenditures may not justify elevated expectations. The weakness has spread across chip stocks, making LRCX’s decline partly sector-driven. Chip stock rebound and AI spending fears

Lam Research Company Profile

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.