Lam Research (NASDAQ:LRCX) Stock Rating Lowered by DA Davidson

DA Davidson downgraded shares of Lam Research (NASDAQ:LRCX) from a buy rating to a neutral rating in a research report released on Monday morning, BenzingaRatingsTable reports. DA Davidson currently has $200.00 price objective on the semiconductor company’s stock, down from their previous price objective of $225.00.

A number of other research firms have also recently commented on LRCX. Mizuho raised their target price on Facebook from $210.00 to $230.00 and gave the company a buy rating in a research report on Thursday, April 25th. KeyCorp restated a hold rating on shares of Packaging Corp Of America in a research report on Thursday, April 25th. Citigroup dropped their target price on Merus from $18.00 to $16.00 and set a neutral rating on the stock in a research report on Friday, March 15th. BidaskClub upgraded Xilinx from a hold rating to a buy rating in a research report on Saturday, June 29th. Finally, Royal Bank of Canada set a €18.50 ($21.51) target price on ENI and gave the company a neutral rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $223.39.

Shares of NASDAQ LRCX traded up $0.67 during trading on Monday, reaching $184.89. 1,494,741 shares of the company traded hands, compared to its average volume of 2,234,366. The company has a fifty day moving average price of $182.31. The firm has a market cap of $28.16 billion, a PE ratio of 10.35, a P/E/G ratio of 1.06 and a beta of 1.59. Lam Research has a 12-month low of $122.64 and a 12-month high of $209.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.79 and a current ratio of 3.37.



Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.38 by $0.32. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the business posted $4.79 EPS. The company’s revenue was down 15.7% on a year-over-year basis. As a group, equities analysts expect that Lam Research will post 14.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.38%. The ex-dividend date was Tuesday, June 11th. Lam Research’s payout ratio is 24.62%.

In other Lam Research news, insider Richard A. Gottscho sold 7,248 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $209.26, for a total value of $1,516,716.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Abhijit Y. Talwalkar sold 3,988 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $203.00, for a total transaction of $809,564.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,391 shares of company stock worth $2,776,675. 0.44% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LRCX. FMR LLC lifted its stake in Lam Research by 88.0% in the 4th quarter. FMR LLC now owns 6,652,531 shares of the semiconductor company’s stock worth $905,875,000 after purchasing an additional 3,114,393 shares in the last quarter. American International Group Inc. raised its position in shares of Lam Research by 1,921.2% during the 4th quarter. American International Group Inc. now owns 2,848,583 shares of the semiconductor company’s stock valued at $387,892,000 after buying an additional 2,707,651 shares during the period. Norges Bank purchased a new stake in shares of Lam Research during the 4th quarter valued at approximately $215,477,000. Amundi Pioneer Asset Management Inc. raised its position in shares of Lam Research by 563.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,043,217 shares of the semiconductor company’s stock valued at $186,745,000 after buying an additional 885,862 shares during the period. Finally, Marshall Wace North America L.P. raised its position in shares of Lam Research by 249.2% during the 1st quarter. Marshall Wace North America L.P. now owns 582,106 shares of the semiconductor company’s stock valued at $104,202,000 after buying an additional 415,418 shares during the period. 86.50% 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 worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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