Cantor Fitzgerald Trims Lam Research (NASDAQ:LRCX) Target Price to $100.00

Lam Research (NASDAQ:LRCX) had its price target reduced by Cantor Fitzgerald from $120.00 to $100.00 in a report issued on Monday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other research analysts have also recently issued reports on LRCX. Raymond James increased their price objective on shares of Lam Research from $95.00 to $106.00 and gave the company an outperform rating in a report on Friday, June 7th. UBS Group decreased their price target on Lam Research from $125.00 to $115.00 and set a buy rating for the company in a research note on Thursday, September 12th. Mizuho dropped their price objective on Lam Research from $105.00 to $95.00 and set an outperform rating on the stock in a research note on Friday, September 20th. TD Cowen raised their target price on Lam Research from $100.00 to $105.00 and gave the company a buy rating in a research note on Thursday, August 1st. Finally, Citigroup dropped their price target on shares of Lam Research from $99.00 to $89.30 and set a buy rating on the stock in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lam Research currently has a consensus rating of Moderate Buy and a consensus price target of $141.28.

Lam Research Stock Down 0.4 %

LRCX opened at $81.11 on Monday. The stock’s 50 day moving average price is $95.45 and its 200 day moving average price is $96.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The stock has a market cap of $10.60 billion, a P/E ratio of 2.98, a P/E/G ratio of 1.51 and a beta of 1.48. Lam Research has a 12 month low of $57.44 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. As a group, research analysts predict that Lam Research will post 35.2 earnings per share for the current year.

Lam Research Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Neil J. Fernandes sold 16,200 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now directly owns 52,370 shares of the company’s stock, valued at $5,535,456.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several institutional investors and hedge funds have recently modified their holdings of the stock. Swedbank AB acquired a new stake in Lam Research during the first quarter valued at $192,668,000. Van ECK Associates Corp lifted its holdings in shares of Lam Research by 24.6% during the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after buying an additional 191,230 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after buying an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Lam Research by 5.1% in the first 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 buying an additional 142,903 shares during the last quarter. Finally, Natixis raised its position in Lam Research by 1,267.1% during the first quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock valued at $138,902,000 after acquiring an additional 132,509 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other 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.