Deutsche Bank Aktiengesellschaft Cuts Lam Research (NASDAQ:LRCX) Price Target to $950.00

Lam Research (NASDAQ:LRCX) had its price target cut by equities researchers at Deutsche Bank Aktiengesellschaft from $1,100.00 to $950.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 15.45% from the stock’s current price.

A number of other brokerages also recently issued reports on LRCX. UBS Group increased their price objective on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. TD Cowen raised their price target on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and set a $1,200.00 price target on shares of Lam Research in a report on Thursday. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus raised their target price on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,007.85.

Lam Research Stock Down 10.7 %

Shares of Lam Research stock traded down $98.37 on Thursday, hitting $822.87. The company had a trading volume of 1,654,703 shares, compared to its average volume of 1,036,268. Lam Research has a twelve month low of $574.42 and a twelve month high of $1,130.00. The stock has a 50-day moving average of $1,006.55 and a 200-day moving average of $945.51. The firm has a market capitalization of $107.58 billion, a P/E ratio of 30.26, a P/E/G ratio of 2.47 and a beta of 1.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84.

Lam Research’s stock is set to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research announced that its Board of Directors has authorized a share buyback program on Tuesday, May 21st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Lam Research

In other Lam Research news, insider George M. Schisler sold 400 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $908.21, for a total value of $363,284.00. Following the completion of the sale, the insider now directly owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at approximately $90,596,739.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider George M. Schisler sold 400 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $908.21, for a total transaction of $363,284.00. Following the completion of the transaction, the insider now owns 5,661 shares in the company, valued at approximately $5,141,376.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,726 shares of company stock worth $17,746,999. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lam Research

Several institutional investors and hedge funds have recently made changes to their positions in LRCX. DSM Capital Partners LLC bought a new position in Lam Research during the fourth quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Lam Research during the second quarter valued at $32,000. Partnership Wealth Management LLC bought a new position in shares of Lam Research in the fourth quarter worth about $33,000. RFP Financial Group LLC lifted its holdings in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in shares of Lam Research in the fourth quarter worth $38,000. 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.