Lam Research (NASDAQ:LRCX) had its price target decreased by KeyCorp from $261.00 to $231.00 in a research report report published on Wednesday, The Fly reports. KeyCorp currently has an overweight rating on the semiconductor company’s stock. KeyCorp also issued estimates for Lam Research’s Q2 2019 earnings at $3.68 EPS, Q1 2020 earnings at $3.71 EPS, Q2 2020 earnings at $4.32 EPS, Q3 2020 earnings at $4.64 EPS and Q4 2020 earnings at $4.90 EPS.

Several other brokerages also recently weighed in on LRCX. BidaskClub raised Lam Research from a sell rating to a hold rating in a research report on Thursday, July 19th. Zacks Investment Research downgraded Lam Research from a hold rating to a sell rating in a research report on Monday, June 25th. ValuEngine downgraded Lam Research from a sell rating to a strong sell rating in a research report on Wednesday, September 12th. Citigroup cut their price target on Lam Research from $216.00 to $177.00 and set a buy rating on the stock in a research report on Tuesday, September 25th. Finally, Morgan Stanley cut their price target on Lam Research from $219.00 to $208.00 and set an overweight rating on the stock in a research report on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $231.25.

LRCX stock traded down $2.19 during midday trading on Wednesday, reaching $144.99. The stock had a trading volume of 114,953 shares, compared to its average volume of 3,385,837. The firm has a market capitalization of $23.10 billion, a price-to-earnings ratio of 8.13, a price-to-earnings-growth ratio of 0.59 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.90 and a quick ratio of 2.31. Lam Research has a 52-week low of $135.99 and a 52-week high of $234.88.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.22 by $0.14. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.31 billion. Lam Research had a return on equity of 47.14% and a net margin of 21.49%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business posted $3.46 EPS. As a group, equities research analysts expect that Lam Research will post 15.51 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Tuesday, September 11th. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Lam Research by 0.9% during the 2nd quarter. BlackRock Inc. now owns 11,252,078 shares of the semiconductor company’s stock valued at $1,944,921,000 after acquiring an additional 102,790 shares during the period. Janus Henderson Group PLC grew its position in shares of Lam Research by 4.4% during the 2nd quarter. Janus Henderson Group PLC now owns 5,503,855 shares of the semiconductor company’s stock valued at $951,341,000 after acquiring an additional 231,609 shares during the period. LSV Asset Management grew its position in shares of Lam Research by 7.9% during the 2nd quarter. LSV Asset Management now owns 2,641,374 shares of the semiconductor company’s stock valued at $456,561,000 after acquiring an additional 193,629 shares during the period. FMR LLC grew its position in shares of Lam Research by 92.5% during the 2nd quarter. FMR LLC now owns 2,329,989 shares of the semiconductor company’s stock valued at $402,737,000 after acquiring an additional 1,119,488 shares during the period. Finally, Swedbank grew its position in shares of Lam Research by 8.3% during the 3rd quarter. Swedbank now owns 1,944,630 shares of the semiconductor company’s stock valued at $295,000,000 after acquiring an additional 149,147 shares during the period. Hedge funds and other institutional investors own 89.21% 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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