Sanford C. Bernstein Issues Pessimistic Forecast for Lam Research (NASDAQ:LRCX) Stock Price

Lam Research (NASDAQ:LRCX) had its price target decreased by equities researchers at Sanford C. Bernstein from $95.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the semiconductor company’s stock. Sanford C. Bernstein’s price target points to a potential upside of 15.05% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Citigroup reduced their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. UBS Group reduced their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. B. Riley cut their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $97.29.

Lam Research Trading Up 3.2 %

Shares of LRCX stock opened at $73.88 on Friday. The company has a market capitalization of $95.06 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 1.14 and a beta of 1.48. 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 business’s 50 day moving average is $76.52 and its two-hundred day moving average is $86.67. Lam Research has a twelve month low of $68.72 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the firm posted $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. Equities analysts forecast that Lam Research will post 3.52 EPS for the current year.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. CarsonAllaria Wealth Management Ltd. purchased a new position in Lam Research during the second quarter worth about $32,000. RFP Financial Group LLC lifted its holdings in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the second quarter worth approximately $40,000. Country Trust Bank purchased a new stake in Lam Research in the second quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in Lam Research during the second quarter worth approximately $45,000. Hedge funds and other 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.