Lam Research (NASDAQ:LRCX) PT Lowered to $596.00

Lam Research (NASDAQ:LRCXGet Rating) had its target price reduced by equities research analysts at Piper Sandler from $627.00 to $596.00 in a research report issued on Thursday, Marketbeat.com reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price target suggests a potential upside of 28.69% from the stock’s previous close.

LRCX has been the subject of several other reports. Susquehanna reduced their target price on Lam Research from $655.00 to $640.00 and set a “neutral” rating for the company in a research note on Thursday, January 27th. Bank of America upped their target price on Lam Research from $675.00 to $785.00 and gave the stock a “buy” rating in a research note on Monday, January 10th. Susquehanna Bancshares reduced their target price on Lam Research from $655.00 to $640.00 and set a “neutral” rating for the company in a research note on Thursday, January 27th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research note on Thursday, March 24th. Finally, Wells Fargo & Company dropped their price target on Lam Research from $610.00 to $525.00 and set an “equal weight” rating for the company in a research report on Monday, April 18th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has an average rating of “Hold” and an average price target of $670.90.

Shares of NASDAQ:LRCX opened at $463.13 on Thursday. Lam Research has a 12-month low of $451.00 and a 12-month high of $731.85. The company has a market capitalization of $64.61 billion, a PE ratio of 14.43, a PEG ratio of 0.74 and a beta of 1.24. The business has a 50 day moving average of $522.36 and a two-hundred day moving average of $593.68. The company has a current ratio of 3.13, a quick ratio of 2.34 and a debt-to-equity ratio of 0.77.

Lam Research (NASDAQ:LRCXGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The semiconductor company reported $7.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $7.51 by ($0.11). Lam Research had a net margin of 27.78% and a return on equity of 78.38%. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the firm posted $7.49 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts predict that Lam Research will post 32.63 earnings per share for the current fiscal year.

In related news, SVP Scott Gerald Meikle sold 700 shares of the stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $590.00, for a total transaction of $413,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Richard A. Gottscho sold 537 shares of the stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $560.50, for a total value of $300,988.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,937 shares of company stock worth $1,092,843. 0.31% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. M&G Investment Management Ltd. raised its position in Lam Research by 28.2% in the 4th quarter. M&G Investment Management Ltd. now owns 111,974 shares of the semiconductor company’s stock valued at $80,509,000 after purchasing an additional 24,641 shares in the last quarter. Maverick Capital Ltd. raised its position in Lam Research by 57.3% in the 3rd quarter. Maverick Capital Ltd. now owns 270,922 shares of the semiconductor company’s stock valued at $154,195,000 after purchasing an additional 98,641 shares in the last quarter. State of Michigan Retirement System raised its position in Lam Research by 4.8% in the 4th quarter. State of Michigan Retirement System now owns 38,769 shares of the semiconductor company’s stock valued at $27,881,000 after purchasing an additional 1,784 shares in the last quarter. Laffer Tengler Investments raised its position in Lam Research by 18.3% in the 3rd quarter. Laffer Tengler Investments now owns 6,977 shares of the semiconductor company’s stock valued at $3,971,000 after purchasing an additional 1,081 shares in the last quarter. Finally, Keybank National Association OH raised its position in Lam Research by 4.4% in the 3rd quarter. Keybank National Association OH now owns 4,163 shares of the semiconductor company’s stock valued at $2,369,000 after purchasing an additional 175 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

About Lam Research (Get Rating)

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.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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