Lam Research (NASDAQ:LRCX) Given “Neutral” Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Lam Research (NASDAQ:LRCX) in a report released on Thursday, Benzinga reports. They currently have a $100.00 price objective on the semiconductor company’s stock.

A number of other analysts also recently commented on the company. Wells Fargo & Company reduced their price objective on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday. Citigroup decreased their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Mizuho dropped their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Morgan Stanley reduced their price objective on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Lam Research Stock Performance

NASDAQ LRCX traded up $1.61 during trading on Thursday, hitting $78.18. The company’s stock had a trading volume of 1,027,833 shares, compared to its average volume of 11,226,133. Lam Research has a 52 week low of $57.44 and a 52 week high of $113.00. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The firm has a market cap of $10.22 billion, a P/E ratio of 2.82, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The firm has a 50 day moving average price of $79.60 and a 200 day moving average price of $89.94.

Lam Research (NASDAQ:LRCX) last posted its quarterly 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. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the business posted $6.85 EPS. Equities research analysts forecast that Lam Research will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

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

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the company’s 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 transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

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