Lam Research (NASDAQ:LRCX) Price Target Lowered to $85.00 at The Goldman Sachs Group

Lam Research (NASDAQ:LRCX) had its price target lowered by investment analysts at The Goldman Sachs Group from $96.00 to $85.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 13.51% from the stock’s previous close.

A number of other brokerages also recently commented on LRCX. Mizuho dropped their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. UBS Group lowered their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Wells Fargo & Company cut their price target on Lam Research from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.91.

Lam Research Trading Down 2.8 %

NASDAQ LRCX traded down $2.16 during trading on Friday, hitting $74.88. The stock had a trading volume of 2,726,127 shares, compared to its average volume of 9,035,891. The stock has a market capitalization of $96.35 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 1.22 and a beta of 1.45. The stock has a 50 day simple moving average of $74.72 and a 200 day simple moving average of $82.01. Lam Research has a one year low of $68.87 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the company posted $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. Sell-side analysts predict that Lam Research will post 3.5 earnings per share for the current year.

Institutional Trading of Lam Research

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MGO One Seven LLC lifted its stake in shares of Lam Research by 42.6% in the 2nd quarter. MGO One Seven LLC now owns 1,459 shares of the semiconductor company’s stock valued at $1,554,000 after purchasing an additional 436 shares during the period. American Century Companies Inc. grew its position in shares of Lam Research by 17.5% during the 2nd quarter. American Century Companies Inc. now owns 99,283 shares of the semiconductor company’s stock valued at $105,722,000 after acquiring an additional 14,800 shares during the period. Cornercap Investment Counsel Inc. increased its stake in shares of Lam Research by 2.3% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 624 shares of the semiconductor company’s stock valued at $664,000 after purchasing an additional 14 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in Lam Research by 73.6% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,430 shares of the semiconductor company’s stock worth $2,588,000 after purchasing an additional 1,030 shares during the period. Finally, Main Street Financial Solutions LLC grew its holdings in Lam Research by 17.5% in the second quarter. Main Street Financial Solutions LLC now owns 691 shares of the semiconductor company’s stock valued at $736,000 after purchasing an additional 103 shares during the period. 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.