Lam Research (NASDAQ:LRCX) Price Target Cut to $75.00 by Analysts at Wells Fargo & Company

Lam Research (NASDAQ:LRCXFree Report) had its price objective cut by Wells Fargo & Company from $85.00 to $75.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

LRCX has been the subject of a number of other research reports. Barclays lowered their price target on Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Tuesday. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Bank of America lowered their price target on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Stifel Nicolaus lowered their price objective on Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Finally, UBS Group dropped their target price on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $92.80.

Read Our Latest Analysis on Lam Research

Lam Research Stock Up 6.2 %

LRCX opened at $70.90 on Thursday. The stock has a fifty day moving average of $73.45 and a 200-day moving average of $75.55. The company has a market capitalization of $91.01 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCXGet Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. On average, equities analysts expect that Lam Research will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.30%. Lam Research’s dividend payout ratio is presently 27.96%.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This trade represents a 38.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lam Research

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Westfuller Advisors LLC grew its position in shares of Lam Research by 6.3% in the first quarter. Westfuller Advisors LLC now owns 9,114 shares of the semiconductor company’s stock valued at $665,000 after purchasing an additional 543 shares in the last quarter. CFM Wealth Partners LLC purchased a new position in Lam Research during the 1st quarter valued at about $418,000. Little House Capital LLC increased its position in shares of Lam Research by 38.4% during the first quarter. Little House Capital LLC now owns 19,199 shares of the semiconductor company’s stock valued at $1,396,000 after buying an additional 5,324 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Lam Research by 0.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,188,231 shares of the semiconductor company’s stock valued at $231,784,000 after acquiring an additional 27,708 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in Lam Research by 18.5% during the first quarter. Golden State Wealth Management LLC now owns 2,249 shares of the semiconductor company’s stock valued at $164,000 after acquiring an additional 351 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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