Mizuho Lowers Lam Research (NASDAQ:LRCX) Price Target to $90.00

Lam Research (NASDAQ:LRCX) had its target price decreased by analysts at Mizuho from $95.00 to $90.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s price target would indicate a potential upside of 20.56% from the stock’s previous close.

LRCX has been the subject of a number of other research reports. B. Riley cut their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Citigroup lowered their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Finally, Wells Fargo & Company reduced their target price on shares of Lam Research from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, December 6th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.65.

Lam Research Trading Down 3.1 %

NASDAQ LRCX opened at $74.65 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research has a 52 week low of $68.87 and a 52 week high of $113.00. The business has a 50 day moving average price of $74.72 and a 200-day moving average price of $81.82. The company has a market cap of $96.05 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS 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 business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the previous year, the business posted $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, equities analysts expect that Lam Research will post 3.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lam Research

Large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after purchasing an additional 39,725 shares during the period. Creative Planning lifted its stake in shares of Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after buying an additional 1,146 shares in the last quarter. Vest Financial LLC boosted its holdings in Lam Research by 68.7% in the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after buying an additional 14,658 shares during the period. Worldquant Millennium Advisors LLC grew its stake in Lam Research by 51.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after buying an additional 73,648 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Lam Research by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock valued at $278,165,000 after acquiring an additional 28,089 shares during the period. Hedge funds and other institutional investors 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.