Lam Research (NASDAQ:LRCX) Cut to Hold at StockNews.com

StockNews.com cut shares of Lam Research (NASDAQ:LRCX) from a buy rating to a hold rating in a report published on Saturday morning.

LRCX has been the subject of several other research reports. Needham & Company LLC reissued a buy rating and issued a $1,030.00 price objective on shares of Lam Research in a report on Thursday, April 25th. Cantor Fitzgerald reissued a neutral rating and issued a $1,100.00 price objective on shares of Lam Research in a report on Thursday, April 25th. TD Cowen increased their price objective on Lam Research from $975.00 to $1,000.00 and gave the company a buy rating in a report on Thursday, April 25th. B. Riley raised Lam Research from a neutral rating to a buy rating and increased their price objective for the company from $870.00 to $1,100.00 in a report on Friday, April 19th. Finally, Susquehanna cut their price objective on Lam Research from $880.00 to $850.00 and set a neutral rating for the company in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $950.85.

Lam Research Price Performance

Shares of LRCX opened at $924.54 on Friday. The stock has a market capitalization of $120.87 billion, a P/E ratio of 34.00, a P/E/G ratio of 2.82 and a beta of 1.51. Lam Research has a twelve month low of $512.09 and a twelve month high of $1,007.39. The company has a 50 day moving average of $941.03 and a 200-day moving average of $822.52. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.53. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the business earned $6.99 EPS. As a group, equities research analysts forecast that Lam Research will post 29.62 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 29.42%.

Insider Transactions at Lam Research

In related news, insider George M. Schisler sold 400 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total value of $363,284.00. Following the transaction, the insider now owns 5,661 shares in the company, valued at $5,141,376.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider George M. Schisler sold 400 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total value of $363,284.00. Following the transaction, the insider now owns 5,661 shares in the company, valued at $5,141,376.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,489 shares of company stock valued at $6,978,065. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP grew its position in Lam Research by 724.0% in the first quarter. Quantbot Technologies LP now owns 5,331 shares of the semiconductor company’s stock valued at $5,179,000 after acquiring an additional 4,684 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Lam Research by 4.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,495 shares of the semiconductor company’s stock valued at $17,969,000 after acquiring an additional 748 shares during the last quarter. Empirical Finance LLC grew its position in Lam Research by 3.3% in the first quarter. Empirical Finance LLC now owns 4,938 shares of the semiconductor company’s stock valued at $4,798,000 after acquiring an additional 157 shares during the last quarter. Mitchell Capital Management Co. grew its position in Lam Research by 10.7% in the first quarter. Mitchell Capital Management Co. now owns 536 shares of the semiconductor company’s stock valued at $521,000 after acquiring an additional 52 shares during the last quarter. Finally, Noesis Capital Mangement Corp grew its position in Lam Research by 1.2% in the first quarter. Noesis Capital Mangement Corp now owns 1,792 shares of the semiconductor company’s stock valued at $1,741,000 after acquiring an additional 22 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

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.