Mizuho Cuts Lam Research (NASDAQ:LRCX) Price Target to $90.00

Lam Research (NASDAQ:LRCX) had its target price decreased by analysts at Mizuho from $95.00 to $90.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s price objective suggests a potential upside of 20.66% from the stock’s current price.

Several other research analysts also recently issued reports on LRCX. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. B. Riley dropped their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. UBS Group reduced their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Morgan Stanley raised their price target 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. Finally, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.65.

Lam Research Stock Performance

Shares of NASDAQ LRCX traded down $2.45 during midday trading on Friday, reaching $74.59. 3,479,626 shares of the company were exchanged, compared to its average volume of 9,180,567. The stock has a fifty day simple moving average of $74.72 and a 200 day simple moving average of $82.01. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock has a market cap of $95.97 billion, a P/E ratio of 24.11, a PEG ratio of 1.22 and a beta of 1.45. Lam Research has a 1 year low of $68.87 and a 1 year high of $113.00.

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 analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s revenue 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. On average, research analysts forecast that Lam Research will post 3.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lam Research

Several institutional investors have recently bought and sold shares of the stock. Cornercap Investment Counsel Inc. boosted its holdings in shares of Lam Research by 2.3% in the second quarter. Cornercap Investment Counsel Inc. now owns 624 shares of the semiconductor company’s stock worth $664,000 after acquiring an additional 14 shares during the period. HBK Sorce Advisory LLC raised its position in shares of Lam Research by 2.4% in the second quarter. HBK Sorce Advisory LLC now owns 682 shares of the semiconductor company’s stock worth $726,000 after buying an additional 16 shares in the last quarter. Gabelli Funds LLC increased its stake in Lam Research by 5.6% in the 2nd quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock worth $319,000 after acquiring an additional 16 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Lam Research by 5.6% during the 2nd quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock worth $341,000 after acquiring an additional 17 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its stake in Lam Research by 2.6% in the second quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock worth $966,000 after buying an additional 23 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

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.