Lam Research (NASDAQ:LRCX) Price Target Cut to $85.00 by Analysts at The Goldman Sachs Group

Lam Research (NASDAQ:LRCX) had its price objective trimmed by The Goldman Sachs Group from $96.00 to $85.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other research firms also recently weighed in on LRCX. Citigroup reduced their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley lifted their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Sanford C. Bernstein dropped their price objective on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus target price of $96.65.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $74.65 on Friday. The company has a market capitalization of $96.05 billion, a PE ratio of 24.13, a PEG ratio of 1.22 and a beta of 1.45. 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 stock’s 50 day moving average price is $74.72 and its 200-day moving average price is $81.96. Lam Research has a twelve month low of $68.87 and a twelve month high of $113.00.

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

Lam Research Announces Dividend

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

Institutional Investors Weigh In On Lam Research

Hedge funds have recently bought and sold shares of the stock. Cornercap Investment Counsel Inc. raised its position in shares of Lam Research by 2.3% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 624 shares of the semiconductor company’s stock valued at $664,000 after buying an additional 14 shares in the last quarter. HBK Sorce Advisory LLC raised its position in Lam Research by 2.4% during the second quarter. HBK Sorce Advisory LLC now owns 682 shares of the semiconductor company’s stock valued at $726,000 after purchasing an additional 16 shares in the last quarter. Gabelli Funds LLC lifted its stake in Lam Research by 5.6% during the second quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock worth $319,000 after purchasing an additional 16 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Lam Research by 5.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock worth $341,000 after purchasing an additional 17 shares in the last quarter. Finally, Insigneo Advisory Services LLC increased its position in shares of Lam Research by 2.6% during the 2nd quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock valued at $966,000 after purchasing an additional 23 shares during the last quarter. 84.61% of the stock is currently 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.