Lam Research (NASDAQ:LRCX) Downgraded to Peer Perform Rating by Wolfe Research

Wolfe Research downgraded shares of Lam Research (NASDAQ:LRCX) from an outperform rating to a peer perform rating in a research report report published on Wednesday morning, MarketBeat.com reports.

A number of other research analysts also recently issued reports on LRCX. BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Sanford C. Bernstein cut their price objective on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report 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. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.59.

Lam Research Trading Up 1.5 %

Lam Research stock opened at $76.15 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a market capitalization of $97.98 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The stock has a 50-day moving average price of $74.70 and a 200 day moving average price of $81.22.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 earnings per share. The company’s revenue was up 19.7% compared to the same quarter last year. Sell-side analysts anticipate that Lam Research will post 3.51 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Institutional Trading of Lam Research

Large investors have recently made changes to their positions in the company. Quarry LP grew its holdings in Lam Research by 175.0% in the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after buying an additional 56 shares in the last quarter. NCP Inc. purchased a new stake in Lam Research in the 2nd quarter valued at $213,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Lam Research by 2,400.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 192 shares in the last quarter. Mill Creek Capital Advisors LLC purchased a new stake in Lam Research in the 2nd quarter valued at $226,000. Finally, MQS Management LLC purchased a new stake in Lam Research in the 2nd quarter valued at $228,000. 84.61% of the stock is currently owned by hedge funds and other 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.