Mizuho Cuts Lam Research (NASDAQ:LRCX) Price Target to $90.00

Lam Research (NASDAQ:LRCX) had its price target trimmed by Mizuho from $95.00 to $90.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on LRCX. 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. BNP Paribas raised shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. The Goldman Sachs Group decreased their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Morgan Stanley raised their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.65.

Lam Research Trading Down 3.1 %

Shares of Lam Research stock opened at $74.65 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The stock’s 50 day simple moving average is $74.72 and its 200-day simple moving average is $81.65. The stock has a market cap of $96.05 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.22 and a beta of 1.45. Lam Research has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share 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 company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 earnings per share. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. Analysts predict that Lam Research will post 3.5 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. Shareholders of record on Wednesday, December 11th were paid a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. Lam Research’s dividend payout ratio (DPR) is 29.77%.

Institutional Trading of Lam Research

Several hedge funds have recently modified their holdings of LRCX. Van ECK Associates Corp increased its holdings in Lam Research by 1,394.7% during the 3rd 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 period. Neville Rodie & Shaw Inc. increased its stake in shares of Lam Research by 886.9% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 349,792 shares of the semiconductor company’s stock worth $25,266,000 after buying an additional 314,349 shares during the period. Two Sigma Advisers LP raised its holdings in Lam Research by 215.4% in the third quarter. Two Sigma Advisers LP now owns 341,900 shares of the semiconductor company’s stock valued at $279,018,000 after acquiring an additional 233,500 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its stake in Lam Research by 994.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after acquiring an additional 211,614 shares during the last quarter. Finally, Bridgewater Associates LP grew its holdings in Lam Research by 315.0% during the 3rd quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company’s stock worth $225,281,000 after acquiring an additional 209,537 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

About Lam Research

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.