Barclays Cuts Lam Research (NASDAQ:LRCX) Price Target to $75.00

Lam Research (NASDAQ:LRCX) had its price objective trimmed by Barclays from $90.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

A number of other equities analysts have also recently issued reports on LRCX. Stifel Nicolaus restated a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Friday. Mizuho cut their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Stock Performance

Shares of LRCX stock opened at $80.30 on Friday. The business’s 50 day simple moving average is $74.73 and its 200 day simple moving average is $80.81. Lam Research has a one year low of $68.87 and a one year high of $113.00. The stock has a market capitalization of $103.32 billion, a PE ratio of 25.95, a PEG ratio of 1.37 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm’s revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted $6.85 earnings per share. As a group, research analysts forecast that Lam Research will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.77%.

Hedge Funds Weigh In On Lam Research

Several large investors have recently bought and sold shares of the stock. Bradley Foster & Sargent Inc. CT raised its stake in shares of Lam Research by 107.8% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 478 shares of the semiconductor company’s stock worth $509,000 after purchasing an additional 248 shares during the period. Blair William & Co. IL raised its stake in shares of Lam Research by 8.0% during the 2nd quarter. Blair William & Co. IL now owns 5,755 shares of the semiconductor company’s stock worth $6,128,000 after purchasing an additional 426 shares during the period. MQS Management LLC bought a new stake in shares of Lam Research during the 2nd quarter worth $228,000. Intech Investment Management LLC raised its stake in shares of Lam Research by 3.1% during the 2nd quarter. Intech Investment Management LLC now owns 12,150 shares of the semiconductor company’s stock worth $12,938,000 after purchasing an additional 371 shares during the period. Finally, Ieq Capital LLC raised its stake in shares of Lam Research by 5.8% during the 2nd quarter. Ieq Capital LLC now owns 14,655 shares of the semiconductor company’s stock worth $15,606,000 after purchasing an additional 799 shares during the period. 84.61% of the stock is currently owned by institutional investors.

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.