Lam Research (NASDAQ: LRCX – Get Note) had its price target reduced by Citigroup from $720.00 to $700.00 in a research report released Thursday, reports The Fly. Citigroup’s price target indicates a potential upside of 39.86% from the company’s previous close.
Several other equity research analysts have also published reports on LRCX. Stifel Nicolaus raised his price target on Lam Research shares from $775.00 to $837.00 in a Thursday, April 7 report. B. Riley lowered his price target on Lam Research shares from $625.00 to $525.00 and set a “hold” rating for the company in a Monday, July 25 report. Mizuho cut its price target on Lam Research shares from $725.00 to $675.00 and set a “buy” rating on the stock in a Thursday, April 21 research note. Piper Sandler cut her price target on Lam Research shares from $596.00 to $567.00 and set a “neutral” rating on the stock in a Thursday, May 26 research note. Finally, Barclays downgraded Lam Research shares from an “overweight” rating to an “equally weighted” rating and reduced its price target for the stock from $625.00 to $450.00 in a research note. Monday, July 25. Eleven equity research analysts gave the stock a hold rating and seven gave the stock a buy rating. According to MarketBeat, Lam Research currently has an average rating of “Hold” and an average price target of $612.18.
Lam Research Price Performance
LRCX stock opened at $500.51 on Thursday. The company has a fifty-day simple moving average of $455.56 and a two-hundred-day simple moving average of $507.78. The company has a market capitalization of $69.43 billion, a P/E ratio of 15.65, a price-to-earnings growth ratio of 1.18 and a beta of 1.31. The company has a quick ratio of 2.00, a current ratio of 2.83 and a debt ratio of 0.83. Lam Research has a 52-week low of $375.87 and a 52-week high of $731.85.
Lam Research (NASDAQ:LRCX – Get Rating) last released its results on Wednesday, July 27. The semiconductor company reported earnings per share (EPS) of $8.83 for the quarter, beating the consensus estimate of $7.30 by $1.53. The company posted revenue of $4.64 billion in the quarter, versus analyst estimates of $4.21 billion. Lam Research had a net margin of 27.13% and a return on equity of 75.51%. The company’s revenue increased 11.8% year over year. In the same quarter last year, the company achieved EPS of $8.09. Analysts expect Lam Research to post earnings per share of 31.61 for the current fiscal year.
Institutional entries and exits
Institutional investors and hedge funds have recently changed their holdings in the company. Synovus Financial Corp increased its stake in Lam Research by 0.6% in the fourth quarter. Synovus Financial Corp now owns 2,948 shares of the semiconductor company worth $2,116,000 after buying 17 more shares last quarter. Traynor Capital Management Inc. increased its stake in Lam Research by 0.7% in the fourth quarter. Traynor Capital Management Inc. now owns 2,683 shares of the semiconductor company worth $1,929,000 after buying 18 more shares last quarter. FDx Advisors Inc. increased its stake in Lam Research by 0.7% in Q4. FDx Advisors Inc. now owns 2,426 shares of the semiconductor company worth $1,745,000 after buying 18 more shares last quarter. The First National Bank of Hutchinson increased its stake in Lam Research by 3.2% in the 4th quarter. First National Bank of Hutchinson now owns 615 shares of the semiconductor company worth $442,000 after buying 19 more shares last quarter. Finally, Stonebridge Capital Advisors LLC increased its stake in Lam Research by 100.0% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company worth $27,000 after buying 19 more shares in the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s shares.
Lam Research Company Profile
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Lam Research Corporation designs, manufactures, markets, refurbishes and services semiconductor processing equipment used in the manufacture of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten plating applications; SABER electrochemical deposition products for copper interconnect transition which offers damascened copper fabrication; SOLA ultraviolet heat treatment products for film processing; and VECTOR plasma-enriched CVD ALD products.
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