Lam Research (NASDAQ:LRCX) Given New $75.00 Price Target at Barclays

Lam Research (NASDAQ:LRCX) had its price target lowered by equities researchers at Barclays from $90.00 to $75.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price indicates a potential downside of 5.33% from the company’s current price.

Several other brokerages also recently weighed in on LRCX. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley lifted their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company reduced their price target on Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday. Finally, The Goldman Sachs Group lowered their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.77.

Lam Research Stock Up 4.0 %

Shares of NASDAQ LRCX opened at $79.22 on Friday. The stock has a fifty day moving average price of $74.68 and a 200 day moving average price of $81.00. The company has a market cap of $101.93 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.37 and a beta of 1.45. 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 posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter last year, the firm earned $6.85 earnings per share. Research analysts anticipate that Lam Research will post 3.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Lam Research by 107.8% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 478 shares of the semiconductor company’s stock worth $509,000 after acquiring an additional 248 shares during the period. Blair William & Co. IL increased its stake in shares of Lam Research by 8.0% in the second quarter. Blair William & Co. IL now owns 5,755 shares of the semiconductor company’s stock valued at $6,128,000 after purchasing an additional 426 shares during the period. MQS Management LLC bought a new stake in shares of Lam Research during the second quarter valued at approximately $228,000. Intech Investment Management LLC boosted its position in shares of Lam Research by 3.1% during the second quarter. Intech Investment Management LLC now owns 12,150 shares of the semiconductor company’s stock worth $12,938,000 after buying an additional 371 shares during the period. Finally, Ieq Capital LLC grew its holdings in Lam Research by 5.8% in the 2nd quarter. Ieq Capital LLC now owns 14,655 shares of the semiconductor company’s stock worth $15,606,000 after buying an additional 799 shares in the last quarter. Institutional investors and hedge funds 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.