Lam Research (NASDAQ:LRCX) PT Lowered to $950.00

Lam Research (NASDAQ:LRCX) had its target price trimmed by Mizuho from $1,050.00 to $950.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

Several other equities analysts have also recently issued reports on LRCX. B. Riley lifted their price objective on shares of Lam Research from $1,130.00 to $1,325.00 and gave the stock a buy rating in a research note on Thursday, June 20th. Barclays lifted their price target on shares of Lam Research from $865.00 to $900.00 and gave the stock an equal weight rating in a research report on Wednesday, June 5th. StockNews.com downgraded Lam Research from a buy rating to a hold rating in a research report on Friday, July 26th. Needham & Company LLC restated a buy rating and issued a $1,130.00 target price on shares of Lam Research in a report on Thursday, August 1st. Finally, Wells Fargo & Company reduced their target price on Lam Research from $1,100.00 to $1,000.00 and set an equal weight rating for the company in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $1,012.84.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $784.08 on Friday. Lam Research has a 12-month low of $574.42 and a 12-month high of $1,130.00. The company has a market cap of $102.51 billion, a PE ratio of 28.84, a P/E/G ratio of 1.48 and a beta of 1.48. The stock has a 50 day simple moving average of $830.71 and a 200-day simple moving average of $923.65. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Lam Research’s stock is going to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping the consensus estimate of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the previous year, the company earned $5.98 earnings per share. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities research analysts forecast that Lam Research will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 1.17%. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Insider Buying and Selling at Lam Research

In other news, SVP Neil J. Fernandes sold 4,409 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lam Research news, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.21. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Neil J. Fernandes sold 4,409 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the completion of the sale, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at approximately $7,239,346.32. The disclosure for this sale can be found here. Insiders have sold 16,326 shares of company stock worth $17,383,715 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Lam Research

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after acquiring an additional 144,914 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Lam Research by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after purchasing an additional 86,721 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after purchasing an additional 142,903 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Lam Research by 7.7% during the 2nd 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 period. Finally, Van ECK Associates Corp grew its holdings in Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after buying an additional 107,778 shares during the last quarter. 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.