Lam Research (NASDAQ:LRCX) Given New $850.00 Price Target at Susquehanna

Lam Research (NASDAQ:LRCX) had its price target reduced by investment analysts at Susquehanna from $880.00 to $850.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price target suggests a potential downside of 3.94% from the company’s previous close.

Several other analysts have also recently commented on LRCX. TD Cowen raised their target price on Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus raised their price objective on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group upped their target price on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Cantor Fitzgerald raised their price target on shares of Lam Research from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $1,030.00 price objective on shares of Lam Research in a research note on Thursday. Seven 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $932.85.

Lam Research Trading Down 0.3 %

Shares of LRCX opened at $884.89 on Thursday. The business’s 50-day moving average price is $943.93 and its 200 day moving average price is $806.38. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $116.01 billion, a P/E ratio of 34.22, a P/E/G ratio of 3.21 and a beta of 1.51. Lam Research has a 1-year low of $493.42 and a 1-year high of $1,007.39.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the business earned $10.71 earnings per share. The firm’s revenue was down 28.8% compared to the same quarter last year. Analysts expect that Lam Research will post 28.96 earnings per share for the current year.

Insider Activity

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Lam Research

Several institutional investors and hedge funds have recently added to or reduced their stakes in LRCX. DSM Capital Partners LLC acquired a new stake in shares of Lam Research during the 4th quarter worth approximately $28,000. Valued Wealth Advisors LLC acquired a new stake in Lam Research during the fourth quarter worth $30,000. Orion Capital Management LLC bought a new stake in Lam Research in the 3rd quarter valued at $25,000. Partnership Wealth Management LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $33,000. Finally, BluePath Capital Management LLC bought a new position in shares of Lam Research during the 3rd quarter worth about $28,000. 84.61% of the stock is currently owned by institutional investors.

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.