Lam Research Co. (NASDAQ:LRCX) – B. Riley cut their Q4 2019 earnings per share estimates for shares of Lam Research in a research note issued to investors on Wednesday, October 17th. B. Riley analyst C. Ellis now expects that the semiconductor company will post earnings of $3.92 per share for the quarter, down from their previous forecast of $4.47. B. Riley currently has a “Buy” rating and a $225.00 price objective on the stock.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.22 by $0.14. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research had a net margin of 21.26% and a return on equity of 49.80%. Lam Research’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.46 EPS.

LRCX has been the subject of a number of other research reports. BidaskClub cut shares of Lam Research from a “sell” rating to a “strong sell” rating in a research note on Friday, August 31st. Zacks Investment Research cut shares of Lam Research from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. DA Davidson reduced their target price on shares of Lam Research to $225.00 in a research note on Monday, October 15th. Deutsche Bank restated a “hold” rating and issued a $170.00 target price (down previously from $230.00) on shares of Lam Research in a research note on Monday, October 1st. Finally, Evercore ISI reduced their target price on shares of Lam Research to $240.00 and set an “outperform” rating for the company in a research note on Tuesday, July 17th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Lam Research currently has a consensus rating of “Buy” and a consensus price target of $230.89.

Shares of NASDAQ:LRCX opened at $145.20 on Friday. The firm has a market cap of $22.10 billion, a P/E ratio of 8.13, a price-to-earnings-growth ratio of 0.84 and a beta of 1.32. The company has a quick ratio of 2.31, a current ratio of 2.66 and a debt-to-equity ratio of 0.34. Lam Research has a 1-year low of $135.99 and a 1-year high of $234.88.

Several institutional investors and hedge funds have recently made changes to their positions in LRCX. FMR LLC increased its holdings in shares of Lam Research by 92.5% in the 2nd quarter. FMR LLC now owns 2,329,989 shares of the semiconductor company’s stock valued at $402,737,000 after purchasing an additional 1,119,488 shares in the last quarter. Swedbank increased its holdings in shares of Lam Research by 64.3% in the 2nd quarter. Swedbank now owns 1,795,483 shares of the semiconductor company’s stock valued at $310,349,000 after purchasing an additional 702,660 shares in the last quarter. Morgan Stanley increased its holdings in shares of Lam Research by 83.1% in the 2nd quarter. Morgan Stanley now owns 1,530,120 shares of the semiconductor company’s stock valued at $264,481,000 after purchasing an additional 694,440 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Lam Research in the 2nd quarter valued at about $81,818,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Lam Research in the 2nd quarter valued at about $454,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th were paid a $1.10 dividend. This represents a $4.40 annualized dividend 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%.

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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Earnings History and Estimates for Lam Research (NASDAQ:LRCX)

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