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

Lam Research (NASDAQ:LRCX) had its price target reduced by equities researchers at Mizuho from $95.00 to $90.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s price objective would indicate a potential upside of 20.66% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley boosted their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Citigroup cut their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a report on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Finally, Sanford C. Bernstein cut their price target on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.65.

Lam Research Stock Performance

Lam Research stock traded down $2.45 during midday trading on Friday, reaching $74.59. 3,479,626 shares of the company traded hands, compared to its average volume of 9,180,567. The business has a 50 day moving average of $74.72 and a two-hundred day moving average of $82.01. Lam Research has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a market capitalization of $95.97 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the firm earned $6.85 earnings per share. The business’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, research analysts predict that Lam Research will post 3.5 earnings per share for the current year.

Institutional Trading of Lam Research

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

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.