Wells Fargo & Company Lowers Lam Research (NASDAQ:LRCX) Price Target to $82.00

Lam Research (NASDAQ:LRCX) had its price target cut by research analysts at Wells Fargo & Company from $83.00 to $82.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 10.62% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Citigroup dropped their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. B. Riley dropped their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein lowered their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.59.

Lam Research Trading Down 0.7 %

Shares of LRCX stock traded down $0.52 on Monday, reaching $74.13. 1,745,900 shares of the stock were exchanged, compared to its average volume of 9,332,202. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The stock has a market cap of $95.38 billion, a PE ratio of 23.96, a P/E/G ratio of 1.22 and a beta of 1.45. The stock has a 50 day moving average price of $74.72 and a 200 day moving average price of $81.65. Lam Research has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the previous year, the firm earned $6.85 earnings per share. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. Equities research analysts forecast that Lam Research will post 3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Lam Research

Several large investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. grew its holdings in Lam Research by 378.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 2,245 shares of the semiconductor company’s stock worth $2,391,000 after acquiring an additional 1,776 shares during the last quarter. Parallel Advisors LLC lifted its stake in Lam Research by 5.0% in the second quarter. Parallel Advisors LLC now owns 1,425 shares of the semiconductor company’s stock worth $1,517,000 after acquiring an additional 68 shares during the period. Wealthspire Advisors LLC increased its position in shares of Lam Research by 23.7% during the second quarter. Wealthspire Advisors LLC now owns 1,150 shares of the semiconductor company’s stock valued at $1,225,000 after buying an additional 220 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Lam Research by 17.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,820 shares of the semiconductor company’s stock valued at $1,938,000 after purchasing an additional 269 shares during the period. Finally, Lyell Wealth Management LP grew its stake in Lam Research by 8.1% in the second quarter. Lyell Wealth Management LP now owns 575 shares of the semiconductor company’s stock worth $612,000 after purchasing an additional 43 shares during the period. 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.