Lam Research (NASDAQ:LRCX) Downgraded by Goldman Sachs Group

Goldman Sachs Group cut shares of Lam Research (NASDAQ:LRCX) from a buy rating to a neutral rating in a research report released on Wednesday, September 12th, MarketBeat.com reports. Goldman Sachs Group currently has $180.00 price objective on the semiconductor company’s stock, down from their prior price objective of $224.00.

A number of other research firms also recently weighed in on LRCX. BidaskClub upgraded Lam Research from a sell rating to a hold rating in a research note on Thursday, July 19th. KeyCorp decreased their price target on Lam Research from $283.00 to $261.00 and set an overweight rating for the company in a research note on Friday, July 27th. Zacks Investment Research downgraded Lam Research from a strong-buy rating to a hold rating in a research note on Tuesday, May 22nd. Morgan Stanley reduced their target price on Lam Research from $219.00 to $208.00 and set an overweight rating for the company in a research note on Friday, July 27th. Finally, Citigroup reduced their target price on Lam Research from $245.00 to $239.00 and set a buy rating for the company in a research note on Friday, July 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lam Research presently has an average rating of Buy and a consensus target price of $241.85.

Shares of NASDAQ:LRCX traded down $1.11 during mid-day trading on Wednesday, reaching $147.90. 2,336,474 shares of the stock were exchanged, compared to its average volume of 3,346,625. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.31 and a current ratio of 2.90. The company has a market cap of $23.10 billion, a PE ratio of 8.28, a PEG ratio of 0.59 and a beta of 1.33. Lam Research has a one year low of $146.80 and a one year high of $234.88.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $5.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.94 by $0.37. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.08 billion. Lam Research had a return on equity of 47.14% and a net margin of 21.49%. The business’s revenue was up 33.3% compared to the same quarter last year. During the same period last year, the company earned $3.11 earnings per share. On average, research analysts predict that Lam Research will post 15.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th were paid a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, September 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.97%. Lam Research’s payout ratio is 24.62%.

Institutional investors and hedge funds have recently modified their holdings of the company. NuWave Investment Management LLC bought a new position in shares of Lam Research in the 2nd quarter valued at $100,000. Clear Perspective Advisors LLC bought a new stake in Lam Research during the 2nd quarter worth $108,000. Signet Financial Management LLC grew its position in Lam Research by 21,700.0% during the 2nd quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock worth $113,000 after acquiring an additional 651 shares during the last quarter. Ruggie Capital Group bought a new stake in Lam Research during the 2nd quarter worth $134,000. Finally, Financial Gravity Wealth Inc. bought a new stake in Lam Research during the 1st quarter worth $165,000. Institutional investors own 89.21% of the company’s stock.

About Lam Research

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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