Barclays Has Lowered Expectations for Lam Research (NASDAQ:LRCX) Stock Price

Lam Research (NASDAQ:LRCX) had its target price lowered by Barclays from $90.00 to $75.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

Several other equities research analysts have also commented on LRCX. The Goldman Sachs Group cut their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company decreased their target price on Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. KeyCorp raised 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, BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Trading Up 1.4 %

NASDAQ:LRCX opened at $80.30 on Friday. Lam Research has a 1 year low of $68.87 and a 1 year high of $113.00. The stock has a market cap of $103.32 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.37 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a 50-day simple moving average of $74.68 and a 200-day simple moving average of $80.99.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the prior year, the company posted $6.85 earnings per share. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. As a group, analysts anticipate that Lam Research will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

Institutional Trading of Lam Research

A number of institutional investors have recently added to or reduced their stakes in the stock. Gabelli Funds LLC lifted its position in shares of Lam Research by 5.6% during the 2nd quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock valued at $319,000 after acquiring an additional 16 shares during the period. Benjamin Edwards Inc. raised its holdings in Lam Research by 5.6% during the second quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock worth $341,000 after purchasing an additional 17 shares during the last quarter. Insigneo Advisory Services LLC boosted its position in Lam Research by 2.6% during the second quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock worth $966,000 after purchasing an additional 23 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Lam Research by 7.6% in the second quarter. EverSource Wealth Advisors LLC now owns 380 shares of the semiconductor company’s stock valued at $405,000 after purchasing an additional 27 shares during the last quarter. Finally, Holderness Investments Co. increased its position in shares of Lam Research by 6.8% in the second quarter. Holderness Investments Co. now owns 583 shares of the semiconductor company’s stock valued at $621,000 after buying an additional 37 shares in the last quarter. Hedge funds and other 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.