Lam Research (NASDAQ:LRCX) Price Target Cut to $82.00 by Analysts at Wells Fargo & Company

Lam Research (NASDAQ:LRCX) had its target price decreased by stock analysts at Wells Fargo & Company from $83.00 to $82.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 9.25% from the company’s current price.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group decreased their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Sanford C. Bernstein dropped their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. B. Riley decreased their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.59.

Lam Research Trading Up 0.8 %

Shares of Lam Research stock opened at $75.06 on Monday. Lam Research has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a market cap of $96.58 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.22 and a beta of 1.45. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $74.70 and its 200-day moving average price is $81.22.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.85 EPS. On average, equities analysts expect that Lam Research will post 3.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LRCX. Gabelli Funds LLC grew its holdings in Lam Research by 5.6% in the 2nd quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock worth $319,000 after acquiring an additional 16 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Lam Research by 5.6% during the second quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock worth $341,000 after purchasing an additional 17 shares during the period. Insigneo Advisory Services LLC grew its stake in shares of Lam Research by 2.6% in the second quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock worth $966,000 after purchasing an additional 23 shares during the last quarter. Stock Yards Bank & Trust Co. increased its holdings in Lam Research by 8.6% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 316 shares of the semiconductor company’s stock valued at $336,000 after purchasing an additional 25 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Lam Research by 7.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 380 shares of the semiconductor company’s stock valued at $405,000 after purchasing an additional 27 shares during the last quarter. 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.