The Goldman Sachs Group Cuts Lam Research (NASDAQ:LRCX) Price Target to $85.00

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

A number of other equities analysts also recently issued reports on LRCX. Mizuho dropped their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. UBS Group lowered their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.65.

Lam Research Stock Down 3.1 %

Shares of Lam Research stock opened at $74.65 on Friday. Lam Research has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $74.72 and its 200 day moving average is $81.65. The company has a market cap of $96.05 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last released 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 the consensus estimate of $4.06 billion. During the same period last year, the business posted $6.85 EPS. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. Research analysts anticipate that Lam Research will post 3.5 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.77%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LRCX. West Oak Capital LLC raised its stake in Lam Research by 50.9% during 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 in the last quarter. Fortitude Family Office LLC raised its position in shares of Lam Research by 896.7% during the 4th quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 538 shares in the last quarter. Highline Wealth Partners LLC lifted its holdings in shares of Lam Research by 879.7% in the 4th quarter. Highline Wealth Partners LLC now owns 676 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 607 shares during the last quarter. Rise Advisors LLC purchased a new position in Lam Research in the fourth quarter worth about $54,000. Finally, Modus Advisors LLC bought a new stake in Lam Research during the fourth quarter worth approximately $59,000. 84.61% of the stock is currently owned by institutional investors.

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.