Lam Research (NASDAQ:LRCX) Price Target Cut to $80.00 by Analysts at Oppenheimer

Lam Research (NASDAQ:LRCX) had its target price reduced by Oppenheimer from $95.00 to $80.00 in a report published on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the semiconductor company’s stock.

A number of other equities analysts have also recently issued reports on LRCX. 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 report on Thursday, January 30th. Wells Fargo & Company upped their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Mizuho lifted their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.87.

Lam Research Stock Up 1.6 %

LRCX stock opened at $67.48 on Friday. Lam Research has a 1-year low of $56.32 and a 1-year high of $113.00. The stock has a market cap of $86.62 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. 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 company’s 50 day moving average is $76.49 and its 200 day moving average is $76.46.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping 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%. Sell-side analysts predict that Lam Research will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.36%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction 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. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lam Research

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after buying an additional 108,619,564 shares during the last quarter. FMR LLC grew its stake in shares of Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after acquiring an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after acquiring an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares during the last quarter. Finally, Norges Bank bought a new position in Lam Research in the 4th quarter worth about $1,661,672,000. 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.