ValuEngine cut shares of Lam Research (NASDAQ:LRCX) from a buy rating to a hold rating in a research note issued to investors on Monday morning, ValuEngine reports.

Several other equities analysts also recently commented on LRCX. Citigroup dropped their target price on Merus from $18.00 to $16.00 and set a neutral rating for the company in a research report on Friday, March 15th. Cowen increased their target price on ServiceNow from $260.00 to $280.00 and gave the company an outperform rating in a research report on Thursday, April 25th. Royal Bank of Canada set a €18.50 ($21.51) target price on ENI and gave the company a neutral rating in a research report on Tuesday, April 23rd. Needham & Company LLC raised their price objective on Lam Research from $180.00 to $215.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. Finally, Deutsche Bank lowered their price objective on Xilinx from $125.00 to $120.00 and set a hold rating for the company in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $223.39.

Lam Research stock opened at $184.89 on Monday. The company has a quick ratio of 2.79, a current ratio of 3.37 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $28.16 billion, a P/E ratio of 10.35, a PEG ratio of 1.06 and a beta of 1.59. Lam Research has a 12 month low of $122.64 and a 12 month high of $209.50. The company has a 50-day moving average price of $182.31.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 EPS for the quarter, beating the consensus estimate of $3.38 by $0.32. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. The business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period last year, the company earned $4.79 earnings per share. On average, equities research analysts forecast that Lam Research will post 14.33 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th were paid a dividend of $1.10 per share. The ex-dividend date was Tuesday, June 11th. This represents a $4.40 annualized dividend and a yield of 2.38%. Lam Research’s dividend payout ratio is currently 24.62%.

In related news, insider Richard A. Gottscho sold 2,155 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $209.00, for a total transaction of $450,395.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Abhijit Y. Talwalkar sold 3,988 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $203.00, for a total value of $809,564.00. The disclosure for this sale can be found here. Insiders have sold 13,391 shares of company stock valued at $2,776,675 in the last ninety days. 0.44% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LRCX. Berman Capital Advisors LLC acquired a new stake in Lam Research in the fourth quarter valued at approximately $26,000. Global Retirement Partners LLC grew its stake in Lam Research by 119.4% in the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 80 shares during the period. Zions Bancorporation N.A. acquired a new stake in Lam Research in the first quarter valued at approximately $28,000. Hexavest Inc. acquired a new stake in Lam Research in the second quarter valued at approximately $28,000. Finally, Strategy Asset Managers LLC acquired a new stake in Lam Research in the first quarter valued at approximately $33,000. 86.50% of the stock is owned by institutional investors and hedge funds.

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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