Lam Research (NASDAQ:LRCX) Given New $90.00 Price Target at UBS Group

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

Other equities analysts have also issued reports about the stock. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, January 17th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Oppenheimer decreased their price target on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday. The Goldman Sachs Group lowered their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company boosted their price objective on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.68.

Lam Research Trading Up 0.6 %

NASDAQ LRCX traded up $0.38 on Monday, reaching $67.86. The company had a trading volume of 9,941,750 shares, compared to its average volume of 12,144,540. Lam Research has a 52 week low of $56.32 and a 52 week high of $113.00. The stock’s 50 day moving average is $76.49 and its 200-day moving average is $76.46. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock has a market cap of $87.11 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.47 and a beta of 1.52.

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%. Equities analysts predict that Lam Research will post 3.71 earnings per share for the current year.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, 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. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after buying an additional 108,619,564 shares in the last quarter. FMR LLC raised its holdings in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC grew its position in Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new position in shares of Lam Research in the 4th quarter worth $1,661,672,000. 84.61% of the stock is owned by institutional investors.

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.