DA Davidson downgraded shares of Lam Research (NASDAQ:LRCX) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, BenzingaRatingsTable reports. The firm currently has $200.00 target price on the semiconductor company’s stock, down from their prior target price of $225.00.
LRCX has been the topic of several other reports. B. Riley set a $33.00 target price on shares of Triumph Bancorp and gave the company a buy rating in a research report on Monday, April 22nd. Wells Fargo & Co set a $45.00 target price on shares of Perrigo and gave the stock a hold rating in a research note on Wednesday, June 19th. Citigroup dropped their target price on shares of Merus from $18.00 to $16.00 and set a neutral rating on the stock in a research note on Friday, March 15th. Needham & Company LLC upped their target price on shares of Lam Research from $180.00 to $215.00 and gave the stock a buy rating in a research note on Tuesday, April 23rd. Finally, Deutsche Bank dropped their target price on shares of Xilinx from $125.00 to $120.00 and set a hold rating on the stock in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $223.39.
Shares of NASDAQ LRCX opened at $184.89 on Monday. The firm’s 50-day simple moving average is $182.31. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.37 and a quick ratio of 2.79. The stock has a market cap of $27.62 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 1.06 and a beta of 1.59. Lam Research has a 12-month low of $122.64 and a 12-month high of $209.50.
Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.32. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Lam Research had a net margin of 25.64% and a return on equity of 46.66%. The business’s revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.79 EPS. On average, equities analysts forecast that Lam Research will post 14.33 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 12th were paid a dividend of $1.10 per share. The ex-dividend date was Tuesday, June 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.38%. Lam Research’s dividend payout ratio is presently 24.62%.
In other news, insider Richard A. Gottscho sold 7,248 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $209.26, for a total transaction of $1,516,716.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Abhijit Y. Talwalkar sold 3,988 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $203.00, for a total transaction of $809,564.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,391 shares of company stock worth $2,776,675. Insiders own 0.44% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LRCX. FMR LLC lifted its position in Lam Research by 13.7% during the first quarter. FMR LLC now owns 7,565,824 shares of the semiconductor company’s stock valued at $1,354,358,000 after acquiring an additional 913,293 shares during the last quarter. LSV Asset Management grew its position in shares of Lam Research by 1.3% in the first quarter. LSV Asset Management now owns 3,083,160 shares of the semiconductor company’s stock valued at $551,916,000 after purchasing an additional 38,150 shares during the period. American International Group Inc. grew its position in shares of Lam Research by 1,921.2% in the fourth quarter. American International Group Inc. now owns 2,848,583 shares of the semiconductor company’s stock valued at $387,892,000 after purchasing an additional 2,707,651 shares during the period. Geode Capital Management LLC grew its position in shares of Lam Research by 18.6% in the fourth quarter. Geode Capital Management LLC now owns 2,519,701 shares of the semiconductor company’s stock valued at $342,720,000 after purchasing an additional 395,218 shares during the period. Finally, Northern Trust Corp grew its position in shares of Lam Research by 5.7% in the first quarter. Northern Trust Corp now owns 2,029,435 shares of the semiconductor company’s stock valued at $363,289,000 after purchasing an additional 109,461 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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