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

Lam Research (NASDAQ:LRCX - Free Report) had its price objective lowered by Mizuho from $95.00 to $90.00 in a research note issued to investors on Friday morning,Benzinga reports. Mizuho currently has an outperform rating on the semiconductor company's stock.

Several other equities research analysts also recently issued reports on LRCX. Sanford C. Bernstein cut their target price on Lam Research from $95.00 to $85.00 and set a "market perform" rating on the stock in a research report on Friday, November 29th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley boosted their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. BNP Paribas raised shares of Lam Research to a "hold" rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group lowered their price objective on Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a report on Friday. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.65.

Lam Research Stock Down 3.1 %

NASDAQ:LRCX traded down $2.39 during trading hours on Friday, hitting $74.65. The stock had a trading volume of 11,951,038 shares, compared to its average volume of 10,626,868. The business has a 50 day simple moving average of $74.72 and a two-hundred day simple moving average of $82.01. Lam Research has a 1-year low of $68.87 and a 1-year high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company has a market cap of $96.05 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm's revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.85 EPS. Analysts predict that Lam Research will post 3.5 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. Lam Research's dividend payout ratio is presently 29.77%.

Institutional Trading of Lam Research

Institutional investors have recently made changes to their positions in the stock. West Oak Capital LLC lifted its holdings in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after buying an additional 135 shares during the period. Fortitude Family Office LLC lifted its holdings in Lam Research by 896.7% in the 4th quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company's stock valued at $43,000 after acquiring an additional 538 shares during the last quarter. Highline Wealth Partners LLC boosted its position in shares of Lam Research by 879.7% during the 4th quarter. Highline Wealth Partners LLC now owns 676 shares of the semiconductor company's stock valued at $49,000 after purchasing an additional 607 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Lam Research in the 4th quarter worth approximately $54,000. Finally, Modus Advisors LLC bought a new stake in Lam Research during the fourth quarter worth approximately $59,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.