Home research company Lam Research (NASDAQ:LRCX) Receives New Price Target of $434.00 for Goldman Sachs Group

Lam Research (NASDAQ:LRCX) Receives New Price Target of $434.00 for Goldman Sachs Group

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Lam Research (NASDAQ: LRCX – Get a rating) had its price target reduced by Goldman Sachs Group analysts from $504.00 to $434.00 in a report on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Goldman Sachs Group’s target price would suggest a potential upside of 27.42% from the company’s previous close.

Other research analysts have also published research reports on the company. Deutsche Bank Aktiengesellschaft cut its price target on Lam Research from $480.00 to $400.00 and set a “hold” rating for the company in a research report on Thursday. UBS Group raised its price target on Lam Research shares from $510.00 to $530.00 and gave the company a “buy” rating in a Thursday, July 28 research note. Cowen cut his price target on Lam Research shares from $800.00 to $620.00 in a Thursday, July 28 research note. Morgan Stanley lowered its price target on Lam Research shares from $550.00 to $543.00 and set an “overweight” rating on the stock in a Tuesday, September 6 research note. Finally, Bank of America reduced its target price on Lam Research from $540.00 to $460.00 and set a “buy” rating for the company in a Friday, October 7 research report. Ten investment analysts gave the stock a hold rating and nine gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $566.05.

Lam Research stock up 5.1%

Lam Research stock opened at $340.61 on Friday. The company has a debt ratio of 0.80, a quick ratio of 1.82 and a current ratio of 2.69. Lam Research has a 1-year low of $299.59 and a 1-year high of $731.85. The company has a 50-day simple moving average of $429.19 and a 200-day simple moving average of $456.64. The company has a market capitalization of $46.61 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.24 and a beta of 1.38.

Lam Research (NASDAQ: LRCX – Get a rating) last reported results on Wednesday, July 27. The semiconductor company reported EPS of $8.83 for the quarter, beating the consensus estimate of $7.31 by $1.52. The company posted revenue of $4.64 billion in the quarter, versus $4.21 billion expected by analysts. Lam Research had a net margin of 26.73% and a return on equity of 75.71%. Lam Research’s quarterly revenue increased 11.8% year over year. In the same quarter of the previous year, the company achieved EPS of $8.09. As a group, stock analysts expect Lam Research to post earnings per share of 37.14 for the current year.

Institutional entries and exits

Major investors have recently been buying and selling shares of the company. Capital Advisory Group Advisory Services LLC bought a new position in Lam Research during Q1 worth approximately $27,000. OLD Second National Bank of Aurora bought a new position in Lam Research during the first quarter worth about $27,000. SJS Investment Consulting Inc. increased its stake in Lam Research by 1,400.0% in Q1. SJS Investment Consulting Inc. now owns 60 shares of the semiconductor company valued at $32,000 after buying an additional 56 shares during the period. Beacon Capital Management LLC acquired a new stake in Lam Research in Q3 worth approximately $32,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Lam Research shares by 71.7% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 79 shares of the semiconductor company valued at $34,000 after buying 33 additional shares during the period. 80.09% of the shares are held by institutional investors and hedge funds.

About Lam Research

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Lam Research Corporation designs, manufactures, markets, refurbishes and services semiconductor processing equipment used in the manufacture of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten plating applications; SABER electrochemical deposition products for copper interconnect transition which offers damascened copper fabrication; SOLA ultraviolet heat treatment products for film processing; and VECTOR plasma-enriched CVD ALD products.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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