Lam Research (NASDAQ:LRCX) PT Lowered to $774.00

Lam Research (NASDAQ:LRCX) had its price objective cut by analysts at Morgan Stanley from $929.00 to $774.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price target indicates a potential upside of 2.40% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. UBS Group dropped their price target on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Barclays boosted their price objective on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. TD Cowen boosted their price objective on Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Raymond James boosted their price objective on Lam Research from $950.00 to $1,060.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.37.

Lam Research Trading Down 1.3 %

Lam Research stock opened at $755.87 on Tuesday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research has a 52 week low of $574.42 and a 52 week high of $1,130.00. The company has a market capitalization of $98.82 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. The stock has a 50-day moving average price of $847.76 and a 200 day moving average price of $928.18.

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

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

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the transaction, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The disclosure for this sale can be found here. Insiders have sold a total of 16,326 shares of company stock worth $17,383,715 in the last quarter. 0.32% of the stock is owned by company insiders.

Institutional Trading of Lam Research

Several hedge funds have recently modified their holdings of LRCX. Swedbank AB acquired a new stake in shares of Lam Research in the 1st quarter valued at approximately $192,668,000. Van ECK Associates Corp increased its stake in Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after purchasing an additional 191,230 shares in the last quarter. Vanguard Group Inc. increased its stake in Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after purchasing an additional 142,903 shares in the last quarter. Finally, Natixis increased its position in Lam Research by 1,267.1% during the first quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock worth $138,902,000 after buying an additional 132,509 shares in the last quarter. 84.61% of the stock is 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.