Lam Research (NASDAQ:LRCX) Price Target Lowered to $100.00 at Cantor Fitzgerald

Lam Research (NASDAQ:LRCX) had its price objective lowered by Cantor Fitzgerald from $120.00 to $100.00 in a report released on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the semiconductor company’s stock.

A number of other analysts also recently commented on LRCX. Morgan Stanley dropped their price objective on Lam Research from $92.90 to $77.40 and set an equal weight rating for the company in a report on Tuesday, September 17th. UBS Group dropped their price target on Lam Research from $125.00 to $115.00 and set a buy rating for the company in a research note on Thursday, September 12th. Needham & Company LLC reaffirmed a buy rating and issued a $113.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Citigroup dropped their target price 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. Finally, B. Riley lifted their price target on shares of Lam Research from $113.00 to $132.50 and gave the company a buy rating in a research report on Thursday, June 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $141.28.

Lam Research Stock Performance

NASDAQ:LRCX opened at $81.11 on Monday. Lam Research has a 1-year low of $57.44 and a 1-year high of $113.00. The firm has a 50 day simple moving average of $95.45 and a 200-day simple moving average of $96.80. The firm has a market cap of $10.60 billion, a PE ratio of 2.98, a P/E/G ratio of 1.51 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. On average, equities analysts expect that Lam Research will post 35.2 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio is currently 33.84%.

Insiders Place Their Bets

In other Lam Research news, SVP Neil J. Fernandes sold 16,200 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now directly owns 52,370 shares in the company, valued at approximately $5,535,456.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lam Research news, SVP Neil J. Fernandes sold 16,200 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now owns 52,370 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 available at this link. Also, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. CarsonAllaria Wealth Management Ltd. acquired a new stake in Lam Research during the second quarter worth about $32,000. RFP Financial Group LLC raised its position in shares of 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 during the period. Raleigh Capital Management Inc. lifted its holdings in shares of Lam Research by 78.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 22 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Lam Research during the 2nd quarter valued at approximately $40,000. Finally, Country Trust Bank bought a new position in Lam Research during the 2nd quarter worth $43,000. 84.61% of the stock is currently owned by institutional investors.

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.