The Goldman Sachs Group Lowers Lam Research (NASDAQ:LRCX) Price Target to $85.00

Lam Research (NASDAQ:LRCX) had its price target cut by equities researchers at The Goldman Sachs Group from $96.00 to $85.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 13.86% from the stock’s previous close.

LRCX has been the subject of several other reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. B. Riley lowered their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Mizuho cut their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Morgan Stanley upped their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.65.

Lam Research Trading Down 3.1 %

LRCX stock opened at $74.65 on Friday. Lam Research has a 12 month low of $68.87 and a 12 month high of $113.00. The firm’s 50-day moving average is $74.72 and its 200 day moving average is $81.82. The company has a market capitalization of $96.05 billion, a PE ratio of 24.13, a P/E/G ratio of 1.22 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS 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%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the company posted $6.85 earnings per share. On average, research analysts anticipate that Lam Research will post 3.5 EPS for the current year.

Hedge Funds Weigh In On Lam Research

Several hedge funds have recently modified their holdings of the stock. West Oak Capital LLC raised its stake in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of Lam Research by 896.7% in the fourth quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 538 shares during the period. Highline Wealth Partners LLC raised its stake in shares of Lam Research by 879.7% in the fourth quarter. Highline Wealth Partners LLC now owns 676 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 607 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of Lam Research during the fourth quarter worth about $54,000. Finally, Modus Advisors LLC purchased a new stake in Lam Research in the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds 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.