Lam Research’s (LRCX) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Lam Research (NASDAQ:LRCX) in a report published on Thursday, Benzinga reports. Cantor Fitzgerald currently has a $100.00 target price on the semiconductor company’s stock.

LRCX has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday. Mizuho decreased their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company cut their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday. Six equities 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 stock currently has an average rating of “Moderate Buy” and an average target price of $97.03.

Lam Research Trading Up 1.4 %

NASDAQ LRCX opened at $77.68 on Thursday. The company has a market cap of $100.68 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.89 and a beta of 1.47. Lam Research has a 12 month low of $57.44 and a 12 month high of $113.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The company has a 50-day moving average of $79.21 and a 200-day moving average of $89.71.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. Lam Research’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.85 earnings per share. As a group, equities analysts predict that Lam Research will post 3.23 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is 31.72%.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Large investors have recently modified their holdings of the stock. Creative Planning lifted its holdings in Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after buying an additional 1,146 shares during the last quarter. Vest Financial LLC raised its position in shares of Lam Research by 68.7% during the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after acquiring an additional 14,658 shares in the last quarter. Symmetry Investments LP bought a new position in Lam Research during the second quarter worth $3,229,000. Benson Investment Management Company Inc. acquired a new position in Lam Research in the third quarter worth $5,182,000. Finally, Vontobel Holding Ltd. increased its stake in Lam Research by 38.4% during the third quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock valued at $98,530,000 after purchasing an additional 33,489 shares during the last quarter. 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.