UBS Group Lowers Lam Research (NASDAQ:LRCX) Price Target to $1,150.00

Lam Research (NASDAQ:LRCX) had its target price decreased by analysts at UBS Group from $1,250.00 to $1,150.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. UBS Group’s price target indicates a potential upside of 53.89% from the stock’s previous close.

LRCX has been the topic of several other research reports. Citigroup reduced their price target on shares of Lam Research from $1,025.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. B. Riley lifted their price target on Lam Research from $1,130.00 to $1,325.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Barclays lifted their price target on Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $1,130.00 price target on shares of Lam Research in a report on Thursday, August 1st. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,006.10.

Lam Research Stock Performance

NASDAQ LRCX traded down $19.57 on Thursday, hitting $747.28. 471,058 shares of the company’s stock were exchanged, compared to its average volume of 1,082,450. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The firm’s 50-day moving average price is $882.05 and its two-hundred day moving average price is $934.57. Lam Research has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00. The firm has a market cap of $97.70 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 1.41 and a beta of 1.48.

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

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the firm posted $5.98 EPS. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts expect that Lam Research will post 35.2 EPS for the current year.

Lam Research declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 21st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the transaction, the senior vice president now directly owns 6,857 shares in the company, valued at approximately $7,239,346.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 84,639 shares of the company’s stock, valued at approximately $90,596,739.21. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

Institutional investors have recently modified their holdings of the company. Newbridge Financial Services Group Inc. boosted its stake in Lam Research by 20.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 412 shares of the semiconductor company’s stock worth $439,000 after acquiring an additional 70 shares in the last quarter. Heritage Wealth Management Inc. purchased a new stake in shares of Lam Research in the second quarter valued at about $276,000. Sanctuary Advisors LLC purchased a new stake in shares of Lam Research in the second quarter valued at about $18,140,000. NCP Inc. purchased a new stake in shares of Lam Research in the second quarter valued at about $213,000. Finally, Brown Financial Advisors purchased a new stake in Lam Research during the second quarter worth about $1,489,000. 84.61% of the stock is 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.