Lam Research (NASDAQ:LRCX) Given New $85.00 Price Target at The Goldman Sachs Group

Lam Research (NASDAQ:LRCX) had its price objective decreased by The Goldman Sachs Group from $96.00 to $85.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 13.51% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company lowered their target price on Lam Research from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. UBS Group cut their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Stifel Nicolaus restated a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, Citigroup decreased their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $96.91.

Lam Research Price Performance

Shares of NASDAQ LRCX traded down $2.16 during midday trading on Friday, hitting $74.88. The stock had a trading volume of 2,726,127 shares, compared to its average volume of 9,035,891. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a market capitalization of $96.35 billion, a PE ratio of 24.20, a P/E/G ratio of 1.22 and a beta of 1.45. The stock has a 50 day simple moving average of $74.72 and a 200-day simple moving average of $82.01.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.85 EPS. On average, sell-side analysts expect that Lam Research will post 3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Lam Research

Hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its position in Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after acquiring an additional 15,005,178 shares during the last quarter. State Street Corp increased its position in shares of Lam Research by 1.6% during the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after purchasing an additional 94,086 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lam Research by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after purchasing an additional 64,053 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Lam Research by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock valued at $1,527,273,000 after purchasing an additional 11,093 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after buying an additional 89,470 shares during the last quarter. 84.61% of the stock is currently 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.