Mizuho Has Lowered Expectations for Lam Research (NASDAQ:LRCX) Stock Price

Lam Research (NASDAQ:LRCX) had its price objective trimmed by Mizuho from $95.00 to $90.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

Several other analysts also recently weighed in on LRCX. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Morgan Stanley raised their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Sanford C. Bernstein decreased their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Finally, StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.65.

Lam Research Price Performance

LRCX stock opened at $74.65 on Friday. The stock has a market cap of $96.05 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.22 and a beta of 1.45. Lam Research has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $74.72 and a 200 day moving average price of $81.65.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the business posted $6.85 EPS. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. Equities research analysts anticipate that Lam Research will post 3.5 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.77%.

Institutional Investors Weigh In On Lam Research

Hedge funds and other institutional investors have recently modified their holdings of the stock. West Oak Capital LLC grew its holdings in shares of Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the period. Fortitude Family Office LLC boosted its position in Lam Research by 896.7% during the fourth quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 538 shares in the last quarter. Highline Wealth Partners LLC increased its position in shares of Lam Research by 879.7% in the fourth quarter. Highline Wealth Partners LLC now owns 676 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 607 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Lam Research during the 4th quarter worth $54,000. Finally, Modus Advisors LLC purchased a new stake in shares of Lam Research in the 4th quarter worth about $59,000. 84.61% of the stock is currently 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.