Lam Research (NASDAQ:LRCX) Price Target Cut to $950.00 by Analysts at Mizuho

Lam Research (NASDAQ:LRCX) had its price target reduced by equities researchers at Mizuho from $1,050.00 to $950.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s target price indicates a potential upside of 23.81% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Barclays boosted their price target on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, B. Riley boosted their target price on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $1,012.84.

Lam Research Stock Performance

LRCX traded down $21.79 during trading hours on Friday, hitting $767.28. The company’s stock had a trading volume of 717,262 shares, compared to its average volume of 1,089,455. The company has a 50-day simple moving average of $842.35 and a 200 day simple moving average of $927.21. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $100.31 billion, a PE ratio of 28.24, a PEG ratio of 1.48 and a beta of 1.48. Lam Research has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00.

Lam Research shares are scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business earned $5.98 earnings per share. As a group, sell-side analysts expect that Lam Research will post 35.2 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was 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 $90,596,739.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the sale, the senior vice president now owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief executive officer now owns 84,639 shares of the company’s stock, valued at $90,596,739.21. The disclosure for this sale can be found here. Insiders sold a total of 16,326 shares of company stock valued at $17,383,715 in the last quarter. Insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. boosted its holdings 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 valued at $439,000 after purchasing an additional 70 shares in the last quarter. Heritage Wealth Management Inc. acquired a new stake in Lam Research in the 2nd quarter valued at $276,000. Sanctuary Advisors LLC bought a new stake in Lam Research in the second quarter valued at $18,140,000. NCP Inc. acquired a new position in Lam Research during the second quarter worth $213,000. Finally, Brown Financial Advisors bought a new position in shares of Lam Research during the second quarter valued at $1,489,000. Institutional investors own 84.61% of the company’s stock.

About Lam Research

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.