Susquehanna Lowers Lam Research (NASDAQ:LRCX) Price Target to $850.00

Lam Research (NASDAQ:LRCX) had its price objective decreased by investment analysts at Susquehanna from $880.00 to $850.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price target indicates a potential downside of 3.94% from the stock’s previous close.

Several other equities research analysts also recently weighed in on LRCX. Stifel Nicolaus increased their price target on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Evercore ISI initiated coverage on shares of Lam Research in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price objective on the stock. Raymond James lifted their price target on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Barclays increased their price objective on shares of Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group lifted their target price on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $932.85.

Lam Research Stock Performance

Shares of Lam Research stock opened at $884.89 on Thursday. The firm has a market cap of $116.01 billion, a P/E ratio of 34.22, a P/E/G ratio of 3.21 and a beta of 1.51. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average price is $943.93 and its 200-day moving average price is $806.38.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.06 by $0.46. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. Lam Research’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.71 EPS. On average, equities research analysts expect that Lam Research will post 28.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock valued at $6,559,489 in the last three months. Insiders own 0.32% of the company’s stock.

Institutional Trading of Lam Research

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arlington Trust Co LLC grew its position in shares of Lam Research by 7.7% during the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after buying an additional 13 shares during the period. Capital Performance Advisors LLP raised its position in shares of Lam Research by 2.2% during the 4th quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock valued at $480,000 after acquiring an additional 13 shares during the last quarter. Van Leeuwen & Company LLC boosted its position in shares of Lam Research by 0.5% in the 4th quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock worth $2,023,000 after purchasing an additional 13 shares during the last quarter. Busey Bank grew its stake in shares of Lam Research by 1.5% during the first quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock worth $844,000 after purchasing an additional 13 shares during the period. Finally, First Affirmative Financial Network increased its holdings in Lam Research by 2.5% in the first quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock valued at $510,000 after purchasing an additional 13 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.