Lam Research (NASDAQ:LRCX) Cut to “Neutral” at Susquehanna

Susquehanna lowered shares of Lam Research (NASDAQ:LRCX) from a positive rating to a neutral rating in a research note released on Tuesday, Analyst Ratings Network reports. Susquehanna currently has $690.00 price objective on the semiconductor company’s stock, down from their previous price objective of $750.00.

A number of other equities analysts have also recently commented on the stock. Needham & Company LLC reissued a hold rating on shares of Lam Research in a research note on Thursday, July 29th. UBS Group upped their price objective on shares of Lam Research from $745.00 to $750.00 and gave the stock a buy rating in a report on Thursday, July 29th. Mizuho increased their price target on shares of Lam Research from $705.00 to $725.00 and gave the stock a buy rating in a research note on Thursday, July 29th. Exane BNP Paribas lowered shares of Lam Research from an outperform rating to a neutral rating and set a $640.00 price target for the company. in a research note on Tuesday, September 7th. Finally, Wells Fargo & Company cut their price objective on shares of Lam Research from $690.00 to $660.00 and set an equal weight rating on the stock in a research report on Thursday, July 29th. Nine equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $704.35.

LRCX stock opened at $603.50 on Tuesday. Lam Research has a 52-week low of $296.17 and a 52-week high of $673.80. The company has a fifty day moving average price of $609.57 and a 200-day moving average price of $610.74. The company has a market capitalization of $85.67 billion, a P/E ratio of 22.40, a PEG ratio of 1.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.54 and a current ratio of 3.30.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 28th. The semiconductor company reported $8.09 EPS for the quarter, topping analysts’ consensus estimates of $7.53 by $0.56. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4 billion. Lam Research had a net margin of 26.72% and a return on equity of 70.92%. During the same period last year, the company posted $4.78 earnings per share. As a group, sell-side analysts forecast that Lam Research will post 33.45 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 13th. Investors of record on Tuesday, September 28th will be issued a $1.50 dividend. The ex-dividend date is Monday, September 27th. This is a positive change from Lam Research’s previous quarterly dividend of $1.30. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.99%. Lam Research’s dividend payout ratio (DPR) is 19.09%.

In related news, CEO Timothy Archer sold 4,464 shares of the firm’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $600.00, for a total value of $2,678,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of LRCX. Amundi purchased a new position in Lam Research during the second quarter worth $625,747,000. Coatue Management LLC purchased a new stake in shares of Lam Research during the second quarter valued at $377,027,000. GQG Partners LLC boosted its stake in shares of Lam Research by 54.5% during the second quarter. GQG Partners LLC now owns 1,510,467 shares of the semiconductor company’s stock valued at $982,627,000 after purchasing an additional 532,775 shares during the period. BlackRock Inc. boosted its stake in shares of Lam Research by 3.4% during the first quarter. BlackRock Inc. now owns 11,679,103 shares of the semiconductor company’s stock valued at $6,951,867,000 after purchasing an additional 385,985 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Lam Research by 26.5% during the second quarter. Nuveen Asset Management LLC now owns 1,514,174 shares of the semiconductor company’s stock valued at $985,273,000 after purchasing an additional 317,451 shares during the period. 81.32% of the stock is owned by institutional investors.

Lam Research Company Profile

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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