Lam Research (NASDAQ:LRCX) Stock Price Down 2.4% - What's Next?

Key Points

• Lam Research's stock dropped by 2.4% to $97.91, with trading volume down 77% from its average, showing decreased investor activity.
• Analysts have set a consensus price target of $107.09 for Lam Research, with several institutions upgrading their ratings and price objectives in recent reports.
• The company reported strong quarterly earnings with $1.33 EPS, exceeding estimates and demonstrating significant year-over-year revenue growth of 33.6%.

Lam Research Corporation (NASDAQ:LRCX - Get Free Report) shares dropped 2.4% on Wednesday . The stock traded as low as $97.63 and last traded at $97.91. Approximately 2,759,743 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 11,978,630 shares. The stock had previously closed at $100.33.

Wall Street Analyst Weigh In

LRCX has been the topic of several analyst reports. Citigroup upped their target price on shares of Lam Research from $108.00 to $113.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Needham & Company LLC upped their target price on shares of Lam Research from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. B. Riley reaffirmed a "buy" rating and issued a $115.00 target price (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. TD Cowen upped their target price on shares of Lam Research from $100.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Oppenheimer upped their target price on shares of Lam Research from $110.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Twenty investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $107.30.

Lam Research Trading Up 3.3%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. The company has a market capitalization of $128.60 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.29 and a beta of 1.65. The business's 50-day simple moving average is $98.20 and its 200-day simple moving average is $84.45.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the company posted $1.03 EPS. The company's revenue was up 33.6% compared to the same quarter last year. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS. On average, research analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bahl & Gaynor Inc. raised its position in shares of Lam Research by 1.9% in the 2nd quarter. Bahl & Gaynor Inc. now owns 5,602 shares of the semiconductor company's stock valued at $545,000 after acquiring an additional 102 shares during the period. BankPlus Wealth Management LLC raised its holdings in Lam Research by 2.0% during the 2nd quarter. BankPlus Wealth Management LLC now owns 5,248 shares of the semiconductor company's stock worth $511,000 after buying an additional 105 shares during the period. ORG Partners LLC raised its holdings in Lam Research by 7.3% during the 2nd quarter. ORG Partners LLC now owns 1,676 shares of the semiconductor company's stock worth $162,000 after buying an additional 114 shares during the period. Quotient Wealth Partners LLC raised its holdings in Lam Research by 2.1% during the 2nd quarter. Quotient Wealth Partners LLC now owns 5,437 shares of the semiconductor company's stock worth $529,000 after buying an additional 114 shares during the period. Finally, Fairvoy Private Wealth LLC raised its holdings in Lam Research by 3.0% during the 2nd quarter. Fairvoy Private Wealth LLC now owns 4,185 shares of the semiconductor company's stock worth $407,000 after buying an additional 120 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

About Lam Research

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.