Lam Research (NASDAQ:LRCX) Given New $92.00 Price Target at Stifel Nicolaus

Lam Research (NASDAQ:LRCX) had its price objective cut by stock analysts at Stifel Nicolaus from $100.00 to $92.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 41.23% from the stock’s current price.

Several other equities research analysts have also weighed in on LRCX. Barclays cut their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Jefferies Financial Group boosted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and increased their target price for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Wells Fargo & Company boosted their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.87.

Lam Research Stock Down 4.8 %

Shares of NASDAQ:LRCX opened at $65.14 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The stock has a market cap of $83.62 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The firm’s 50 day moving average price is $75.58 and its 200 day moving average price is $76.17.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, equities research analysts predict that Lam Research will post 3.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

Several large investors have recently modified their holdings of the stock. Pine Valley Investments Ltd Liability Co grew its stake in Lam Research by 48.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company’s stock worth $9,364,000 after buying an additional 3,732 shares during the last quarter. Arvest Bank Trust Division acquired a new position in shares of Lam Research during the third quarter valued at $18,106,000. Wilmington Savings Fund Society FSB grew its position in shares of Lam Research by 383.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock worth $3,711,000 after acquiring an additional 3,607 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Lam Research by 409.6% in the 3rd quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock worth $30,538,000 after acquiring an additional 30,077 shares during the period. Finally, Synovus Financial Corp lifted its position in Lam Research by 22.4% in the 3rd quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock valued at $2,508,000 after purchasing an additional 561 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

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.