Lam Research (NASDAQ:LRCX) Price Target Cut to $90.00 by Analysts at UBS Group

Lam Research (NASDAQ:LRCX) had its price objective reduced by UBS Group from $95.00 to $90.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other analysts have also recently issued reports on LRCX. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and lifted their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Jefferies Financial Group increased their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.87.

Lam Research Stock Performance

Shares of Lam Research stock opened at $65.14 on Monday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average price is $75.58 and its 200-day moving average price is $76.17. The firm has a market cap of $83.62 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research has a 12 month low of $56.32 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. On average, equities research analysts expect that Lam Research will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research’s dividend payout ratio (DPR) is 27.96%.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pine Valley Investments Ltd Liability Co boosted its position in Lam Research by 48.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company’s stock worth $9,364,000 after purchasing an additional 3,732 shares in the last quarter. Arvest Bank Trust Division purchased a new stake in Lam Research during the third quarter worth $18,106,000. Wilmington Savings Fund Society FSB grew its position in Lam Research by 383.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock valued at $3,711,000 after buying an additional 3,607 shares during the period. Tidal Investments LLC increased its holdings in Lam Research by 409.6% in the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock valued at $30,538,000 after buying an additional 30,077 shares in the last quarter. Finally, Synovus Financial Corp raised its position in shares of Lam Research by 22.4% in the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock worth $2,508,000 after acquiring an additional 561 shares during the period. Institutional investors and hedge funds 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.