Wells Fargo & Company Issues Pessimistic Forecast for Lam Research (NASDAQ:LRCX) Stock Price

Lam Research (NASDAQ:LRCX) had its target price decreased by Wells Fargo & Company from $83.00 to $82.00 in a research note issued to investors on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the semiconductor company’s stock.

Several other brokerages have also weighed in on LRCX. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley increased their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Citigroup cut their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Sanford C. Bernstein decreased 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. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.59.

Lam Research Trading Up 1.5 %

Lam Research stock opened at $76.15 on Monday. The firm has a market cap of $97.98 billion, a PE ratio of 24.61, a P/E/G ratio of 1.37 and a beta of 1.45. Lam Research has a 12 month low of $68.87 and a 12 month high of $113.00. The stock’s 50 day simple moving average is $74.70 and its two-hundred day simple moving average is $81.22. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

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

Lam Research Announces Dividend

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

Institutional Trading of Lam Research

Hedge funds and other institutional investors have recently modified their holdings of the business. Romano Brothers AND Company acquired a new stake in Lam Research in the 4th quarter valued at approximately $2,036,000. Perkins Coie Trust Co raised its holdings in shares of Lam Research by 900.0% in the 4th quarter. Perkins Coie Trust Co now owns 790 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 711 shares in the last quarter. Stillwater Capital Advisors LLC lifted its holdings in Lam Research by 899.4% during the 4th quarter. Stillwater Capital Advisors LLC now owns 3,608 shares of the semiconductor company’s stock worth $261,000 after buying an additional 3,247 shares during the last quarter. Clarius Group LLC acquired a new position in Lam Research in the fourth quarter valued at approximately $710,000. Finally, Aaron Wealth Advisors LLC grew its position in shares of Lam Research by 995.5% in the 4th quarter. Aaron Wealth Advisors LLC now owns 8,786 shares of the semiconductor company’s stock valued at $635,000 after buying an additional 7,984 shares during the last quarter. 84.61% of the stock is 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. 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.