Barclays Lowers Lam Research (NASDAQ:LRCX) Price Target to $70.00

Lam Research (NASDAQ:LRCX - Get Free Report) had its price target cut by research analysts at Barclays from $75.00 to $70.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the semiconductor company's stock. Barclays's price target indicates a potential downside of 1.99% from the stock's current price.

A number of other equities analysts also recently commented on LRCX. Jefferies Financial Group raised their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. The Goldman Sachs Group decreased their target price on Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, January 10th. UBS Group decreased their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 14th. Wolfe Research cut shares of Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. Finally, KeyCorp raised shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target on the stock in a research note on Friday, January 17th. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lam Research presently has an average rating of "Moderate Buy" and a consensus price target of $92.70.

Lam Research Trading Up 0.7 %

Shares of LRCX traded up $0.52 during mid-day trading on Tuesday, hitting $71.42. The company had a trading volume of 9,749,642 shares, compared to its average volume of 12,130,700. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a market cap of $91.68 billion, a PE ratio of 21.70, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research has a 1-year low of $56.32 and a 1-year high of $113.00. The business's 50-day simple moving average is $73.15 and its 200-day simple moving average is $75.43.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Sell-side analysts forecast that Lam Research will post 3.71 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On Lam Research

Several hedge funds and other institutional investors have recently bought and sold shares of LRCX. Financial Perspectives Inc increased its holdings in shares of Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after buying an additional 309 shares in the last quarter. Fairway Wealth LLC increased its stake in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in Lam Research during the 1st quarter worth about $26,000. Atwood & Palmer Inc. acquired a new position in shares of Lam Research in the fourth quarter worth about $27,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Lam Research in the fourth quarter worth approximately $27,000. 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.