Lam Research (NASDAQ:LRCX – Get Free Report) had its price objective reduced by Barclays from $90.00 to $75.00 in a report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price objective suggests a potential downside of 6.60% from the stock’s current price.
Several other research firms have also issued reports on LRCX. B. Riley lowered their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. The Goldman Sachs Group dropped their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $95.77.
View Our Latest Analysis on Lam Research
Lam Research Stock Performance
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its earnings results 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 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 analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the firm posted $6.85 earnings per share. The company’s revenue was up 19.7% on a year-over-year basis. Sell-side analysts expect that Lam Research will post 3.51 EPS for the current fiscal year.
Institutional Trading of Lam Research
A number of hedge funds have recently bought and sold shares of LRCX. FCG Investment Co grew its holdings in shares of Lam Research by 934.6% in the fourth quarter. FCG Investment Co now owns 16,853 shares of the semiconductor company’s stock valued at $1,217,000 after purchasing an additional 15,224 shares in the last quarter. Veracity Capital LLC bought a new position in Lam Research during the fourth quarter valued at $333,000. Red Door Wealth Management LLC purchased a new position in shares of Lam Research in the 4th quarter worth $589,000. Trust Co. of Oklahoma increased its holdings in shares of Lam Research by 904.2% in the 4th quarter. Trust Co. of Oklahoma now owns 25,778 shares of the semiconductor company’s stock worth $1,862,000 after buying an additional 23,211 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in shares of Lam Research by 1,020.6% during the 4th quarter. Avior Wealth Management LLC now owns 1,524 shares of the semiconductor company’s stock valued at $110,000 after buying an additional 1,388 shares in the last quarter. 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.
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