Lam Research (LRCX) Given New $279.00 Price Target at Stifel Nicolaus

Lam Research (NASDAQ:LRCX) had its target price reduced by Stifel Nicolaus from $295.00 to $279.00 in a research note issued to investors on Friday, July 27th. They currently have a buy rating on the semiconductor company’s stock.

A number of other analysts have also commented on LRCX. Evercore ISI decreased their price objective on Lam Research to $240.00 and set an outperform rating for the company in a report on Tuesday, July 17th. Zacks Investment Research raised Lam Research from a sell rating to a hold rating in a report on Tuesday, July 24th. UBS Group assumed coverage on Lam Research in a report on Wednesday, April 4th. They issued a neutral rating and a $220.00 target price for the company. BidaskClub downgraded Lam Research from a buy rating to a hold rating in a research note on Friday, June 8th. Finally, JPMorgan Chase & Co. reiterated an overweight rating and issued a $275.00 price objective on shares of Lam Research in a research note on Wednesday, April 18th. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $249.80.

Lam Research traded down $6.39, hitting $178.10, during midday trading on Friday, according to Marketbeat. 2,958,901 shares of the company were exchanged, compared to its average volume of 2,743,781. The company has a market capitalization of $30.26 billion, a PE ratio of 9.97, a PEG ratio of 0.71 and a beta of 1.42. Lam Research has a 1-year low of $149.82 and a 1-year high of $234.88. The company has a current ratio of 2.90, a quick ratio of 2.31 and a debt-to-equity ratio of 0.28.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Thursday, July 26th. The semiconductor company reported $5.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.94 by $0.37. The firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.08 billion. Lam Research had a return on equity of 47.28% and a net margin of 21.49%. The business’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.11 EPS. equities research analysts predict that Lam Research will post 15.51 EPS for the current fiscal year.

In other Lam Research news, CEO Martin B. Anstice sold 25,122 shares of Lam Research stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $203.83, for a total transaction of $5,120,617.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. NuWave Investment Management LLC bought a new position in shares of Lam Research in the second quarter valued at approximately $100,000. Clear Perspective Advisors LLC bought a new position in shares of Lam Research in the second quarter valued at approximately $108,000. Signet Financial Management LLC grew its holdings in shares of Lam Research by 21,700.0% in the second quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock valued at $113,000 after acquiring an additional 651 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Lam Research in the first quarter valued at approximately $116,000. Finally, Psagot Investment House Ltd. grew its holdings in shares of Lam Research by 200.0% in the first quarter. Psagot Investment House Ltd. now owns 600 shares of the semiconductor company’s stock valued at $122,000 after acquiring an additional 400 shares in the last quarter. 87.69% of the stock is currently owned by institutional investors.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.

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