Lam Research (NASDAQ:LRCX) Price Target Cut to $950.00 by Analysts at Mizuho

Lam Research (NASDAQ:LRCX) had its target price cut by Mizuho from $1,050.00 to $950.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

A number of other research analysts have also recently commented on LRCX. TD Cowen raised their price target on shares of Lam Research from $1,000.00 to $1,050.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on Lam Research from $1,100.00 to $1,000.00 and set an equal weight rating on the stock in a research note on Thursday, August 1st. Raymond James increased their price objective on Lam Research from $950.00 to $1,060.00 and gave the stock an outperform rating in a research note on Friday, June 7th. Barclays boosted their target price on shares of Lam Research from $865.00 to $900.00 and gave the company an equal weight rating in a research note on Wednesday, June 5th. Finally, Morgan Stanley cut their price target on shares of Lam Research from $929.00 to $774.00 and set an equal weight rating for the company in a report on Tuesday, September 17th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $1,012.84.

Lam Research Price Performance

Shares of LRCX stock opened at $784.08 on Friday. Lam Research has a 12 month low of $574.42 and a 12 month high of $1,130.00. The company has a market capitalization of $102.51 billion, a P/E ratio of 28.84, a P/E/G ratio of 1.48 and a beta of 1.48. The stock has a 50 day moving average of $830.71 and a two-hundred day moving average of $923.65. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52.

Shares of Lam Research are scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the company earned $5.98 earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. As a group, equities analysts expect that Lam Research will post 35.2 EPS for the current year.

Lam Research Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is presently 33.84%.

Insider Activity at Lam Research

In other news, SVP Neil J. Fernandes sold 1,620 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the transaction, the senior vice president now owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Neil J. Fernandes sold 4,409 shares of Lam Research stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total value of $4,654,845.84. Following the sale, the senior vice president now directly owns 6,857 shares of the company’s stock, valued at $7,239,346.32. The disclosure for this sale can be found here. Insiders have sold a total of 16,326 shares of company stock worth $17,383,715 over the last 90 days. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. DSM Capital Partners LLC bought a new stake in shares of Lam Research in the 4th quarter valued at $28,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research in the 2nd quarter valued at approximately $32,000. RFP Financial Group LLC increased its stake in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after buying an additional 22 shares during the period. Finally, Hobbs Group Advisors LLC bought a new position in Lam Research in the second quarter valued at approximately $40,000. 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.