Lam Research (NASDAQ:LRCX) Given New $77.00 Price Target at Morgan Stanley

Lam Research (NASDAQ:LRCX) had its target price trimmed by Morgan Stanley from $81.00 to $77.00 in a research report report published on Wednesday morning.

A number of other equities analysts also recently issued reports on LRCX. B. Riley lowered their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday. Mizuho decreased their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Cantor Fitzgerald decreased their target price on Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. UBS Group decreased their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $139.82.

Lam Research Stock Down 0.2 %

Shares of LRCX opened at $72.86 on Wednesday. The company has a market capitalization of $9.53 billion, a price-to-earnings ratio of 2.68, a PEG ratio of 1.75 and a beta of 1.47. The stock’s 50-day moving average price is $79.60 and its 200-day moving average price is $89.94. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research has a 52 week low of $57.44 and a 52 week high of $113.00.

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 company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. Lam Research’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. On average, sell-side analysts predict that Lam Research will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The firm 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. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a yield of 1.26%. Lam Research’s dividend payout ratio (DPR) is 3.38%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction 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 sale, the chief accounting officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Lam Research

A number of institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC grew its stake in shares of Lam Research by 16.7% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock valued at $67,000 after buying an additional 9 shares in the last quarter. Thomasville National Bank boosted its holdings in Lam Research by 1.5% in the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 12 shares during the period. Ignite Planners LLC boosted its holdings in Lam Research by 2.8% in the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock valued at $484,000 after purchasing an additional 12 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in Lam Research by 3.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 12 shares during the period. Finally, RFP Financial Group LLC boosted its holdings in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

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.