Lam Research (NASDAQ:LRCX) Price Target Lowered to $75.00 at Barclays

Lam Research (NASDAQ:LRCX) had its target price lowered by stock analysts at Barclays from $90.00 to $75.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price objective suggests a potential downside of 5.33% from the company’s current price.

A number of other research firms also recently commented on LRCX. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Sanford C. Bernstein decreased their price target on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Friday. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Finally, BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.

Lam Research Stock Performance

NASDAQ LRCX opened at $79.22 on Friday. The stock has a market capitalization of $101.93 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.37 and a beta of 1.45. The business’s 50 day moving average is $74.68 and its two-hundred day moving average is $81.00. Lam Research has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the company posted $6.85 earnings per share. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. Research analysts expect that Lam Research will post 3.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LRCX. Atwood & Palmer Inc. purchased a new stake in shares of Lam Research during the 4th quarter valued at $27,000. West Oak Capital LLC boosted its holdings in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 135 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC grew its position in Lam Research by 159.1% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 307 shares during the period. Laurel Wealth Advisors LLC acquired a new stake in Lam Research during the fourth quarter worth about $37,000. Finally, Eagle Bay Advisors LLC raised its holdings in shares of Lam Research by 484.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 460 shares during the period. 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.