Lam Research Co. (NASDAQ:LRCX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Lam Research Co. (NASDAQ:LRCX) have received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $97.97.

Several brokerages recently issued reports on LRCX. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. UBS Group cut their price target on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. B. Riley cut their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Morgan Stanley reduced their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd.

Lam Research Price Performance

LRCX opened at $72.69 on Wednesday. The company has a market capitalization of $93.53 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.15 and a beta of 1.48. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. Lam Research has a 12-month low of $68.72 and a 12-month high of $113.00. The business’s fifty day simple moving average is $76.80 and its 200-day simple moving average is $87.04.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the prior year, the business earned $6.85 EPS. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. On average, equities research analysts anticipate that Lam Research will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Lam Research

A number of hedge funds have recently modified their holdings of LRCX. Synovus Financial Corp grew its position in Lam Research by 22.4% during the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock valued at $2,508,000 after buying an additional 561 shares during the period. Tidal Investments LLC boosted its stake in shares of Lam Research by 409.6% during the 3rd quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock worth $30,538,000 after acquiring an additional 30,077 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Lam Research by 383.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock valued at $3,711,000 after acquiring an additional 3,607 shares during the period. Arvest Bank Trust Division acquired a new stake in shares of Lam Research during the 3rd quarter valued at about $18,106,000. Finally, Sanctuary Advisors LLC increased its stake in shares of Lam Research by 838.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 159,913 shares of the semiconductor company’s stock valued at $130,502,000 after purchasing an additional 142,878 shares in the last quarter. Hedge funds and other institutional investors own 84.61% 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. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.