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

Lam Research (NASDAQ:LRCX) had its price objective trimmed by Mizuho from $95.00 to $90.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

LRCX has been the subject of a number of other research reports. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. B. Riley decreased their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Stifel Nicolaus reissued a “buy” rating and set a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Finally, BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $96.65.

Lam Research Stock Down 3.1 %

LRCX stock opened at $74.65 on Friday. The firm has a market cap of $96.05 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.22 and a beta of 1.45. Lam Research has a 1-year low of $68.87 and a 1-year high of $113.00. The firm has a fifty day moving average price of $74.72 and a two-hundred day moving average price of $81.96. 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 quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the firm earned $6.85 EPS. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. Research analysts predict that Lam Research will post 3.5 EPS for the current year.

Lam Research Announces Dividend

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

Hedge Funds Weigh In On Lam Research

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

About Lam Research

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.