Lam Research (NASDAQ:LRCX) Given New $75.00 Price Target at Barclays

Lam Research (NASDAQ:LRCX) had its price objective cut by Barclays from $90.00 to $75.00 in a research report report published on Friday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

A number of other equities research analysts have also issued reports on LRCX. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Sanford C. Bernstein dropped their target price on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a report on Friday, November 29th. Mizuho reduced their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Trading Up 1.4 %

LRCX stock opened at $80.30 on Friday. Lam Research has a 12-month low of $68.87 and a 12-month high of $113.00. The business’s 50-day moving average is $74.68 and its 200 day moving average is $80.99. 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 has a market cap of $103.32 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 1.37 and a beta of 1.45.

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

Lam Research Announces Dividend

The firm also recently declared 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 of this dividend was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. Lam Research’s dividend payout ratio is presently 29.74%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Atwood & Palmer Inc. purchased a new position in Lam Research in the 4th quarter valued at approximately $27,000. West Oak Capital LLC boosted its holdings in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Finley Financial LLC purchased a new stake in Lam Research during the 4th quarter worth about $30,000. Householder Group Estate & Retirement Specialist LLC raised its position in Lam Research by 159.1% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 307 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Lam Research in the 4th quarter valued at about $37,000. Institutional investors and hedge funds 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.