Cowen Trims Lam Research (LRCX) Target Price to $210.00

Lam Research (NASDAQ:LRCX) had its price objective decreased by equities research analysts at Cowen from $250.00 to $210.00 in a research note issued to investors on Wednesday. The firm currently has an “outperform” rating on the semiconductor company’s stock. Cowen’s target price points to a potential upside of 44.56% from the company’s current price.

LRCX has been the subject of a number of other research reports. Evercore ISI reduced their price target on Lam Research to $240.00 and set an “outperform” rating for the company in a report on Tuesday, July 17th. BidaskClub cut Lam Research from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Mizuho cut Lam Research from a “buy” rating to a “neutral” rating in a report on Monday, October 1st. Deutsche Bank reiterated a “hold” rating and set a $170.00 price target (down previously from $230.00) on shares of Lam Research in a report on Monday, October 1st. Finally, ValuEngine cut Lam Research from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $238.25.

NASDAQ:LRCX opened at $145.27 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.31 and a current ratio of 2.90. The stock has a market capitalization of $23.10 billion, a P/E ratio of 8.13, a P/E/G ratio of 0.59 and a beta of 1.33. Lam Research has a 52-week low of $135.99 and a 52-week high of $234.88.

Lam Research (NASDAQ:LRCX) last released its earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.14. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. Lam Research had a return on equity of 47.14% and a net margin of 21.49%. Lam Research’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.46 earnings per share. On average, analysts anticipate that Lam Research will post 15.51 earnings per share for the current year.

Several large investors have recently modified their holdings of LRCX. FMR LLC boosted its holdings in shares of Lam Research by 92.5% during the second quarter. FMR LLC now owns 2,329,989 shares of the semiconductor company’s stock worth $402,737,000 after acquiring an additional 1,119,488 shares during the period. Swedbank boosted its holdings in shares of Lam Research by 64.3% during the second quarter. Swedbank now owns 1,795,483 shares of the semiconductor company’s stock worth $310,349,000 after acquiring an additional 702,660 shares during the period. Morgan Stanley boosted its holdings in shares of Lam Research by 83.1% during the second quarter. Morgan Stanley now owns 1,530,120 shares of the semiconductor company’s stock worth $264,481,000 after acquiring an additional 694,440 shares during the period. Bank of Montreal Can bought a new stake in shares of Lam Research during the second quarter worth approximately $81,818,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Lam Research during the second quarter worth approximately $454,000. Institutional investors own 89.21% 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 worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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