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

Lam Research (NASDAQ:LRCX) had its target price decreased by UBS Group from $95.00 to $90.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. UBS Group’s price objective would suggest a potential upside of 32.63% from the company’s current price.

Several other analysts also recently commented on LRCX. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Wells Fargo & Company boosted their price objective on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Barclays dropped their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Mizuho raised their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Oppenheimer decreased their price objective on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.68.

Lam Research Stock Up 0.6 %

Shares of NASDAQ LRCX traded up $0.38 during midday trading on Monday, hitting $67.86. 9,941,750 shares of the company’s stock were exchanged, compared to its average volume of 12,144,540. The firm’s fifty day simple moving average is $76.49 and its 200-day simple moving average is $76.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market cap of $87.11 billion, a PE ratio of 20.61, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research has a twelve month low of $56.32 and a twelve month high of $113.00.

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

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Lam Research

Hedge funds have recently bought and sold shares of the stock. Fairway Wealth LLC increased its holdings in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 306 shares during the period. Financial Perspectives Inc raised its position in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. Atwood & Palmer Inc. bought a new position in Lam Research during the fourth quarter worth about $27,000. West Paces Advisors Inc. acquired a new stake in Lam Research in the 4th quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Lam Research in the 4th quarter worth about $27,000. 84.61% of the stock is owned by institutional investors.

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.