Lam Research (NASDAQ:LRCX) Price Target Lowered to $100.00 at TD Securities

Lam Research (NASDAQ:LRCX) had its price target cut by TD Securities from $110.00 to $100.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

LRCX has been the topic of a number of other reports. TD Cowen lowered their price target on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday. Stifel Nicolaus lowered their target price on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Mizuho raised their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, UBS Group cut their price objective on Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.80.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $70.90 on Thursday. The company has a market capitalization of $91.01 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research has a 1-year low of $56.32 and a 1-year high of $113.00. The firm’s 50 day simple moving average is $73.45 and its two-hundred day simple moving average is $75.55. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Research analysts expect that Lam Research will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.30%. Lam Research’s payout ratio is 27.96%.

Insider Activity

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LRCX. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Lam Research by 48.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company’s stock worth $9,364,000 after buying an additional 3,732 shares during the period. Arvest Bank Trust Division bought a new stake in shares of Lam Research in the third quarter valued at about $18,106,000. Wilmington Savings Fund Society FSB raised its holdings in shares of Lam Research by 383.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock valued at $3,711,000 after acquiring an additional 3,607 shares in the last quarter. Tidal Investments LLC lifted its stake in Lam Research by 409.6% in the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock worth $30,538,000 after acquiring an additional 30,077 shares during the period. Finally, Synovus Financial Corp grew its holdings in Lam Research by 22.4% during the 3rd quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock worth $2,508,000 after acquiring an additional 561 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

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.