Lam Research (NASDAQ:LRCX) Price Target Cut to $85.00 by Analysts at The Goldman Sachs Group

Lam Research (NASDAQ:LRCX) had its price target reduced by The Goldman Sachs Group from $96.00 to $85.00 in a research report sent to investors on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the semiconductor company’s stock.

Other equities analysts have also recently issued research reports about the stock. Mizuho decreased their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. BNP Paribas upgraded Lam Research to a “hold” rating in a report on Thursday, October 24th. Morgan Stanley increased their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Finally, UBS Group dropped 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. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.65.

Lam Research Stock Down 3.1 %

Shares of NASDAQ:LRCX opened at $74.65 on Friday. Lam Research has a 12-month low of $68.87 and a 12-month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average price is $74.72 and its 200-day moving average price is $81.96. The stock has a market capitalization of $96.05 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $6.85 EPS. On average, equities analysts anticipate that Lam Research will post 3.5 earnings per share for the current year.

Lam Research Dividend Announcement

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

Hedge Funds Weigh In On Lam Research

Several large investors have recently modified their holdings of LRCX. Jennison Associates LLC raised its holdings in Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after buying an additional 39,725 shares during the last quarter. Creative Planning increased its position in shares of Lam Research by 2.5% during the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after acquiring an additional 1,146 shares in the last quarter. Vest Financial LLC raised its holdings in Lam Research by 68.7% in the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its position in Lam Research by 51.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after acquiring an additional 73,648 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Lam Research by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock valued at $278,165,000 after purchasing an additional 28,089 shares during the last quarter. Hedge funds and other 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.