Lam Research’s (LRCX) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Lam Research (NASDAQ:LRCX) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $100.00 target price on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the stock. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. B. Riley decreased their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Lam Research in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.22.

Lam Research Price Performance

Lam Research stock opened at $89.02 on Tuesday. Lam Research has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a 50 day moving average price of $78.27 and a 200 day moving average price of $77.97. The company has a market cap of $114.27 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.43 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Sell-side analysts predict that Lam Research will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.03%. Lam Research’s dividend payout ratio is currently 27.95%.

Hedge Funds Weigh In On Lam Research

Institutional investors have recently modified their holdings of the company. Parisi Gray Wealth Management increased its stake in Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after buying an additional 7,241 shares during the period. Burns J W & Co. Inc. NY acquired a new position in Lam Research during the 4th quarter valued at about $815,000. Centerpoint Advisors LLC increased its stake in Lam Research by 900.0% during the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 900 shares during the period. Jennison Associates LLC increased its stake in Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after buying an additional 39,725 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its stake in Lam Research by 51.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock valued at $175,800,000 after buying an additional 73,648 shares during the period. 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.