Lam Research’s (LRCX) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Lam Research (NASDAQ:LRCX) in a research note published on Thursday morning, Benzinga reports. Cantor Fitzgerald currently has a $100.00 price objective on the semiconductor company’s stock.

Other analysts have also recently issued reports about the company. UBS Group cut their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company cut their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday. Citigroup reduced their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Morgan Stanley reduced their price target on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $77.68 on Thursday. The company has a market capitalization of $10.16 billion, a PE ratio of 2.86, a price-to-earnings-growth ratio of 1.89 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The company’s fifty day moving average price is $79.21 and its 200 day moving average price is $89.66. Lam Research has a 1 year low of $57.44 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the company posted $6.85 EPS. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, research analysts predict that Lam Research will post 3.23 earnings per share for the current year.

Lam Research Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 3.38%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning boosted its position in shares of Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after purchasing an additional 1,146 shares during the period. Vest Financial LLC boosted its position in shares of Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after buying an additional 14,658 shares during the period. Symmetry Investments LP acquired a new stake in shares of Lam Research in the second quarter valued at $3,229,000. Benson Investment Management Company Inc. purchased a new stake in shares of Lam Research in the 3rd quarter valued at $5,182,000. Finally, Vontobel Holding Ltd. lifted its stake in Lam Research by 38.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 120,736 shares of the semiconductor company’s stock worth $98,530,000 after acquiring an additional 33,489 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Company Profile

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.