Lam Research (NASDAQ:LRCX) Lowered to Neutral at DA Davidson

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

A number of other research analysts have also recently issued reports on LRCX. Credit Suisse Group reaffirmed a hold rating on shares of FactSet Research Systems in a research note on Monday. Royal Bank of Canada set a €18.50 ($21.51) price objective on ENI and gave the company a neutral rating in a research note on Tuesday, April 23rd. Needham & Company LLC raised their price objective on Lam Research from $180.00 to $215.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. BidaskClub raised Xilinx from a hold rating to a buy rating in a research note on Saturday, June 29th. Finally, KeyCorp reissued a hold rating on shares of Packaging Corp Of America in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $223.39.

Shares of LRCX stock opened at $184.89 on Monday. The company has a quick ratio of 2.79, a current ratio of 3.37 and a debt-to-equity ratio of 0.71. Lam Research has a 52-week low of $122.64 and a 52-week high of $209.50. The stock has a market capitalization of $27.62 billion, a P/E ratio of 10.35, a PEG ratio of 1.06 and a beta of 1.59. The stock has a fifty day simple moving average of $182.31.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) 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 firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm earned $4.79 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. Sell-side analysts predict 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. Shareholders of record on Wednesday, June 12th were given a dividend of $1.10 per share. The ex-dividend date was Tuesday, June 11th. This represents a $4.40 annualized dividend and a yield of 2.38%. Lam Research’s payout ratio is 24.62%.

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

Hedge funds have recently added to or reduced their stakes in the company. Berman Capital Advisors LLC bought a new stake in Lam Research in the 4th quarter worth approximately $26,000. Global Retirement Partners LLC grew its position in shares of Lam Research by 119.4% during the 1st quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 80 shares during the period. Zions Bancorporation N.A. bought a new stake in shares of Lam Research during the 1st quarter valued at $28,000. Hexavest Inc. bought a new stake in shares of Lam Research during the 2nd quarter valued at $28,000. Finally, Strategy Asset Managers LLC bought a new stake in shares of Lam Research during the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Lam Research Company Profile

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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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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