Lam Research’s (LRCX) Hold Rating Reaffirmed at Mizuho
Mizuho reissued their hold rating on shares of Lam Research (NASDAQ:LRCX) in a research report sent to investors on Wednesday. Mizuho currently has a $165.00 price target on the semiconductor company’s stock.
“We believe N-T soft DRAM pricing and NAND pricing soft into 2H19 could be a Capex headwind. As we show in Exhbit-1, we see DRAM/NAND Capex pushouts. For LRCX, memory capex was ~77% of revenue. China overall strong but domestic spending could be weaker. LRCX noted China was strong at ~25% of total revenue with relatively balanced contributions from Memory, Foundry and Logic. China is expected to be up y/ y into 2019E, though we believe domestic China memory spend could be down y/y with YMTC’s challenges.”,” the firm’s analyst wrote.
A number of other analysts have also weighed in on the company. Goldman Sachs Group lowered Lam Research from a buy rating to a neutral rating and lowered their target price for the company from $224.00 to $180.00 in a research note on Wednesday, September 12th. BidaskClub cut Lam Research from a sell rating to a strong sell rating in a report on Friday, August 31st. ValuEngine cut Lam Research from a hold rating to a sell rating in a report on Saturday, August 18th. Bank of America cut Lam Research from a buy rating to a neutral rating and set a $285.00 price target on the stock. in a report on Tuesday, August 28th. Finally, DA Davidson reiterated a buy rating on shares of Lam Research in a report on Monday, July 23rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Lam Research has a consensus rating of Buy and a consensus price target of $230.89.
Lam Research (NASDAQ:LRCX) last announced its earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.22 by $0.14. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company posted $3.46 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, analysts anticipate that Lam Research will post 14.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 26th. Shareholders of record on Wednesday, September 12th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Tuesday, September 11th. Lam Research’s dividend payout ratio (DPR) is currently 24.62%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Lam Research by 0.9% during the second quarter. BlackRock Inc. now owns 11,252,078 shares of the semiconductor company’s stock worth $1,944,921,000 after buying an additional 102,790 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Lam Research by 4.4% during the second quarter. Janus Henderson Group PLC now owns 5,503,855 shares of the semiconductor company’s stock worth $951,341,000 after buying an additional 231,609 shares during the last quarter. LSV Asset Management boosted its holdings in Lam Research by 7.9% during the second quarter. LSV Asset Management now owns 2,641,374 shares of the semiconductor company’s stock worth $456,561,000 after buying an additional 193,629 shares during the last quarter. FMR LLC boosted its holdings in Lam Research by 92.5% during the second quarter. FMR LLC now owns 2,329,989 shares of the semiconductor company’s stock worth $402,737,000 after buying an additional 1,119,488 shares during the last quarter. Finally, Swedbank boosted its holdings in Lam Research by 8.3% during the third quarter. Swedbank now owns 1,944,630 shares of the semiconductor company’s stock worth $295,000,000 after buying an additional 149,147 shares during the last quarter. Hedge funds and other institutional investors own 92.37% 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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