Lam Research (NASDAQ:LRCX) Price Target Lowered to $774.00 at Morgan Stanley

Lam Research (NASDAQ:LRCX) had its price target reduced by Morgan Stanley from $929.00 to $774.00 in a research note released on Tuesday, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald reissued a neutral rating and set a $1,200.00 target price on shares of Lam Research in a report on Thursday, August 1st. UBS Group reduced their price objective on shares of Lam Research from $1,250.00 to $1,150.00 and set a buy rating on the stock in a research note on Thursday, September 12th. TD Cowen raised their target price on Lam Research from $1,000.00 to $1,050.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Wells Fargo & Company reduced their price target on Lam Research from $1,100.00 to $1,000.00 and set an equal weight rating on the stock in a research report on Thursday, August 1st. Finally, Raymond James raised their price objective on Lam Research from $950.00 to $1,060.00 and gave the stock an outperform rating in a research report on Friday, June 7th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $1,012.84.

Lam Research Stock Performance

NASDAQ LRCX opened at $773.19 on Tuesday. The firm’s fifty day moving average price is $836.41 and its two-hundred day moving average price is $925.79. The stock has a market cap of $101.09 billion, a PE ratio of 28.44, a PEG ratio of 1.48 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research has a fifty-two week low of $574.42 and a fifty-two week high of $1,130.00.

Lam Research’s stock is going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the firm earned $5.98 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts expect that Lam Research will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 17th. This is an increase from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s payout ratio is presently 33.84%.

Insiders Place Their Bets

In other news, CEO Timothy Archer sold 9,650 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the transaction, the chief executive officer now owns 84,639 shares in the company, valued at $90,596,739.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Lam Research news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy Archer sold 9,650 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $1,070.39, for a total transaction of $10,329,263.50. Following the completion of the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,326 shares of company stock worth $17,383,715. 0.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lam Research

Several hedge funds and other institutional investors have recently made changes to their positions in the business. DSM Capital Partners LLC bought a new stake in Lam Research during the 4th quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Lam Research during the 2nd quarter worth $32,000. RFP Financial Group LLC grew its position in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in Lam Research by 78.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 22 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Lam Research during the 2nd quarter worth approximately $40,000. 84.61% of the stock is owned by institutional investors.

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.