Lam Research Co. (NASDAQ:LRCX) Receives $97.03 Consensus Target Price from Brokerages

Shares of Lam Research Co. (NASDAQ:LRCX) have been given a consensus recommendation of “Moderate Buy” by the twenty research firms that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $97.03.

Several brokerages have recently issued reports on LRCX. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Finally, Wells Fargo & Company lowered their price target on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th.

Lam Research Stock Performance

Lam Research stock opened at $74.17 on Friday. The firm has a fifty day simple moving average of $77.94 and a two-hundred day simple moving average of $88.82. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research has a twelve month low of $62.81 and a twelve month high of $113.00. The company has a market capitalization of $96.97 billion, a PE ratio of 24.00, a P/E/G ratio of 1.18 and a beta of 1.48.

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

Lam Research Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is presently 29.77%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Lam Research

A number of hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after buying an additional 15,005,178 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Lam Research by 1.2% during the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after acquiring an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after acquiring an additional 142,903 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after acquiring an additional 89,470 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Lam Research by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after purchasing an additional 25,362 shares during the last quarter. 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.