Mizuho Cuts Lam Research (NASDAQ:LRCX) Price Target to $950.00

Lam Research (NASDAQ:LRCX) had its target price decreased by investment analysts at Mizuho from $1,050.00 to $950.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s target price would suggest a potential upside of 22.87% from the company’s previous close.

Several other research firms have also recently weighed in on LRCX. Cantor Fitzgerald restated a “neutral” rating and set a $1,200.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Wells Fargo & Company lowered their price objective on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and set a $1,130.00 price objective on shares of Lam Research in a research report on Thursday, August 1st. Raymond James increased their target price on shares of Lam Research from $950.00 to $1,060.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Finally, UBS Group reduced their target price on shares of Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $1,012.84.

Lam Research Stock Performance

NASDAQ LRCX opened at $773.19 on Friday. Lam Research has a 1 year low of $574.42 and a 1 year high of $1,130.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The stock has a market capitalization of $101.09 billion, a PE ratio of 28.44, a P/E/G ratio of 1.48 and a beta of 1.48. The company’s 50 day simple moving average is $836.41 and its two-hundred day simple moving average is $925.53.

Shares of Lam Research are scheduled to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating the consensus estimate of $7.58 by $0.56. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the company posted $5.98 EPS. Analysts predict that Lam Research will post 35.2 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the transaction, the chief executive officer now owns 84,639 shares in the company, valued at approximately $90,596,739.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total value of $10,329,263.50. Following the completion of the transaction, the chief executive officer now owns 84,639 shares in the company, valued at approximately $90,596,739.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The disclosure for this sale can be found here. Insiders sold a total of 16,326 shares of company stock worth $17,383,715 in the last quarter. 0.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LRCX. Swedbank AB bought a new position in Lam Research during the 1st quarter valued at approximately $192,668,000. Van ECK Associates Corp increased its position in Lam Research by 24.6% during the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after buying an additional 191,230 shares in the last quarter. Vanguard Group Inc. increased its position in Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after buying an additional 142,903 shares in the last quarter. Finally, Natixis increased its position in Lam Research by 1,267.1% during the 1st quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock valued at $138,902,000 after buying an additional 132,509 shares in 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.