Lam Research (NASDAQ:LRCX) Price Target Cut to $82.00 by Analysts at Wells Fargo & Company

Lam Research (NASDAQ:LRCX) had its price objective decreased by Wells Fargo & Company from $83.00 to $82.00 in a research report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the semiconductor company’s stock.

Several other research firms have also commented on LRCX. Mizuho decreased their price target on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday. B. Riley dropped their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Sanford C. Bernstein dropped their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Citigroup dropped their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, The Goldman Sachs Group dropped their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.59.

Lam Research Trading Down 0.3 %

LRCX stock opened at $74.45 on Monday. The business has a fifty day simple moving average of $74.72 and a 200-day simple moving average of $81.43. The company has a market cap of $95.79 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 1.22 and a beta of 1.45. 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 52 week low of $68.87 and a 52 week high of $113.00.

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

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.77%.

Institutional Investors Weigh In On Lam Research

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in Lam Research by 1,394.7% during 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 period. State Street Corp grew its stake in 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 buying an additional 94,086 shares during the last quarter. Geode Capital Management LLC raised its position in 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 lifted its position in Lam Research by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after buying an additional 11,093 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Lam Research by 7.7% during the second 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 last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.