Oppenheimer Cuts Lam Research (NASDAQ:LRCX) Price Target to $80.00

Lam Research (NASDAQ:LRCX) had its target price lowered by Oppenheimer from $95.00 to $80.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on LRCX. Barclays dropped their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Jefferies Financial Group increased their price objective on Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 target price on shares of Lam Research in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group lowered their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.87.

Lam Research Stock Up 1.6 %

Lam Research stock opened at $67.48 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $86.62 billion, a PE ratio of 20.50, a PEG ratio of 1.47 and a beta of 1.52. The firm’s fifty day moving average is $76.49 and its 200 day moving average is $76.46. Lam Research has a 12-month low of $56.32 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, sell-side analysts predict that Lam Research will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.36%. Lam Research’s payout ratio is 27.96%.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lam Research

A number of large investors have recently made changes to their positions in LRCX. Vanguard Group Inc. boosted its stake in Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares during the period. FMR LLC boosted its position in shares of Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after acquiring an additional 36,496,689 shares during the period. Ameriprise Financial Inc. increased its holdings in Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after acquiring an additional 31,255,726 shares during the period. Geode Capital Management LLC lifted its stake in Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Finally, Norges Bank bought a new position in Lam Research in the 4th quarter valued at $1,661,672,000. 84.61% of the stock is owned by institutional investors.

Lam Research Company Profile

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.