Morgan Stanley Trims Lam Research (NASDAQ:LRCX) Target Price to $77.00

Lam Research (NASDAQ:LRCX) had its price objective lowered by Morgan Stanley from $81.00 to $77.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

Several other analysts also recently weighed in on LRCX. Needham & Company LLC reiterated a “buy” rating and set a $113.00 target price on shares of Lam Research in a research report on Thursday, August 1st. UBS Group decreased their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Mizuho dropped their target price on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. B. Riley reduced 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. Finally, TD Cowen boosted their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Price Performance

LRCX stock opened at $77.68 on Wednesday. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. Lam Research has a 12 month low of $57.44 and a 12 month high of $113.00. The stock has a market cap of $100.68 billion, a PE ratio of 26.79, a P/E/G ratio of 1.89 and a beta of 1.47. The company has a 50-day moving average price of $79.44 and a 200 day moving average price of $89.84.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the firm posted $6.85 earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. Equities research analysts anticipate 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. 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 dividend on an annualized basis and a yield of 1.18%. Lam Research’s payout ratio is 31.72%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Lam Research

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Lam Research by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after buying an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Lam Research by 7.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after buying an additional 89,470 shares during the period. Van ECK Associates Corp grew its holdings in shares of Lam Research by 11.1% during the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after buying an additional 107,778 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after acquiring an additional 25,362 shares during the period. 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.