Morgan Stanley Lowers Lam Research (NASDAQ:LRCX) Price Target to $77.00

Lam Research (NASDAQ:LRCX) had its price target cut by research analysts at Morgan Stanley from $81.00 to $77.00 in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective indicates a potential upside of 0.56% from the stock’s previous close.

A number of other analysts have also recently commented on LRCX. Needham & Company LLC reiterated a “buy” rating and set a $113.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Cantor Fitzgerald decreased their target price on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, B. Riley reduced their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Price Performance

Lam Research stock opened at $76.57 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The firm’s 50-day simple moving average is $79.60 and its 200 day simple moving average is $89.94. Lam Research has a 52 week low of $57.44 and a 52 week high of $113.00. The firm has a market capitalization of $10.01 billion, a PE ratio of 2.82, a P/E/G ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the business earned $6.85 earnings per share. On average, equities research analysts predict that Lam Research will post 3.52 EPS for the current fiscal year.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Lam Research

Several hedge funds and other institutional investors have recently bought and sold shares of LRCX. Dynamic Advisor Solutions LLC grew its holdings in Lam Research by 8.9% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 2,277 shares of the semiconductor company’s stock valued at $2,212,000 after purchasing an additional 187 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of Lam Research by 484.2% during the first quarter. Sound Income Strategies LLC now owns 111 shares of the semiconductor company’s stock valued at $108,000 after acquiring an additional 92 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its stake in shares of Lam Research by 5.7% in the first quarter. Kingswood Wealth Advisors LLC now owns 756 shares of the semiconductor company’s stock worth $735,000 after acquiring an additional 41 shares in the last quarter. Brookstone Capital Management boosted its holdings in Lam Research by 4.6% in the first quarter. Brookstone Capital Management now owns 660 shares of the semiconductor company’s stock valued at $641,000 after purchasing an additional 29 shares during the last quarter. Finally, Aspiriant LLC purchased a new stake in Lam Research during the 1st quarter worth approximately $222,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.