DA Davidson Lowers Lam Research (LRCX) Price Target to $225.00

Lam Research (NASDAQ:LRCX) had its target price decreased by DA Davidson to $225.00 in a research note published on Monday morning, The Fly reports. DA Davidson also issued estimates for Lam Research’s Q2 2019 earnings at $3.45 EPS, Q3 2019 earnings at $3.75 EPS, Q4 2019 earnings at $3.96 EPS, FY2019 earnings at $14.70 EPS, Q1 2020 earnings at $1.70 EPS, Q2 2020 earnings at $4.20 EPS, Q3 2020 earnings at $4.46 EPS, Q4 2020 earnings at $4.65 EPS, FY2020 earnings at $17.50 EPS and FY2020 earnings at $18.00 EPS.

A number of other brokerages have also recently issued reports on LRCX. BidaskClub raised Lam Research from a sell rating to a hold rating in a research note on Thursday, July 19th. KeyCorp reduced their price objective on Lam Research from $283.00 to $261.00 and set an overweight rating on the stock in a research note on Friday, July 27th. Zacks Investment Research cut Lam Research from a hold rating to a sell rating in a research note on Monday, June 25th. ValuEngine cut Lam Research from a sell rating to a strong sell rating in a research note on Wednesday, September 12th. Finally, Citigroup reduced their price objective on Lam Research from $216.00 to $177.00 and set a buy rating on the stock in a research note on Tuesday, September 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Lam Research presently has a consensus rating of Buy and an average target price of $231.25.

Shares of NASDAQ:LRCX opened at $148.00 on Monday. Lam Research has a 12-month low of $135.99 and a 12-month high of $234.88. The stock has a market cap of $22.41 billion, a PE ratio of 8.28, a P/E/G ratio of 0.75 and a beta of 1.32. The company has a current ratio of 2.66, a quick ratio of 2.31 and a debt-to-equity ratio of 0.34.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.22 by $0.14. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $3.46 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, analysts anticipate that Lam Research will post 14.63 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th were issued a dividend of $1.10 per share. The ex-dividend date was Tuesday, September 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.97%. Lam Research’s dividend payout ratio is currently 24.62%.

Institutional investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC purchased a new stake in Lam Research in the second quarter worth about $402,000. Signet Financial Management LLC lifted its holdings in Lam Research by 21,700.0% in the second quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock worth $113,000 after buying an additional 651 shares during the period. Morgan Stanley lifted its holdings in Lam Research by 83.1% in the second quarter. Morgan Stanley now owns 1,530,120 shares of the semiconductor company’s stock worth $264,481,000 after buying an additional 694,440 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Lam Research by 7.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 21,894 shares of the semiconductor company’s stock worth $3,784,000 after buying an additional 1,528 shares during the period. Finally, Baird Financial Group Inc. lifted its holdings in Lam Research by 50.5% in the second quarter. Baird Financial Group Inc. now owns 6,880 shares of the semiconductor company’s stock worth $1,189,000 after buying an additional 2,308 shares during the period. Institutional investors own 92.37% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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