Mizuho Lowers Lam Research (NASDAQ:LRCX) Price Target to $90.00

Lam Research (NASDAQ:LRCX) had its price target trimmed by Mizuho from $95.00 to $90.00 in a report published on Friday,Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Citigroup cut their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. UBS Group reduced their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $96.65.

Lam Research Stock Down 3.1 %

LRCX opened at $74.65 on Friday. Lam Research has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The business has a 50 day moving average price of $74.72 and a 200 day moving average price of $81.96. The firm has a market cap of $96.05 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.85 EPS. Research analysts forecast that Lam Research will post 3.5 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

Hedge Funds Weigh In On Lam Research

Several institutional investors have recently added to or reduced their stakes in the company. West Oak Capital LLC grew its stake in Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Fortitude Family Office LLC grew its position in Lam Research by 896.7% during the 4th quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 538 shares during the last quarter. Highline Wealth Partners LLC increased its holdings in Lam Research by 879.7% during the 4th quarter. Highline Wealth Partners LLC now owns 676 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 607 shares in the last quarter. Rise Advisors LLC bought a new position in Lam Research in the 4th quarter valued at $54,000. Finally, Modus Advisors LLC acquired a new position in Lam Research in the fourth quarter worth $59,000. 84.61% of the stock is 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.