Lam Research (NASDAQ:LRCX) Downgraded to Peer Perform Rating by Wolfe Research

Wolfe Research cut shares of Lam Research (NASDAQ:LRCX) from an outperform rating to a peer perform rating in a report issued on Wednesday morning, Marketbeat Ratings reports.

Other equities analysts have also issued research reports about the company. Mizuho decreased their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group decreased their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Finally, Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.59.

Lam Research Stock Performance

Shares of Lam Research stock opened at $76.15 on Wednesday. Lam Research has a 52 week low of $68.87 and a 52 week high of $113.00. The business’s fifty day simple moving average is $74.70 and its 200-day simple moving average is $81.22. The firm has a market cap of $97.98 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the company posted $6.85 EPS. The company’s quarterly revenue was up 19.7% on a year-over-year basis. Equities analysts forecast that Lam Research will post 3.51 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. Lam Research’s dividend payout ratio is presently 29.74%.

Institutional Investors Weigh In On Lam Research

Several hedge funds and other institutional investors have recently bought and sold shares of LRCX. Van ECK Associates Corp grew its holdings in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. State Street Corp boosted its position in shares of Lam Research by 1.6% in the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after purchasing an additional 94,086 shares during the period. Geode Capital Management LLC grew its stake in Lam Research by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after buying an additional 64,053 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Lam Research during the fourth quarter worth approximately $175,652,000. Finally, Fisher Asset Management LLC lifted its stake in Lam Research by 0.6% in the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock valued at $1,527,273,000 after buying an additional 11,093 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.