Lam Research (NASDAQ:LRCX) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Lam Research (NASDAQ:LRCX) in a research note published on Thursday, Benzinga reports. Needham & Company LLC currently has a $100.00 price objective on the semiconductor company’s stock.

LRCX has been the topic of a number of other research reports. UBS Group cut their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Citigroup reduced their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. StockNews.com downgraded Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, TD Cowen lifted their target price on shares of Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Trading Up 1.4 %

Shares of LRCX stock opened at $77.68 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research has a fifty-two week low of $57.44 and a fifty-two week high of $113.00. The company has a market cap of $10.16 billion, a PE ratio of 2.86, a P/E/G ratio of 1.89 and a beta of 1.47. The stock’s fifty day moving average price is $79.21 and its two-hundred day moving average price is $89.66.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.85 earnings per share. Equities analysts predict that Lam Research will post 3.23 EPS for the current fiscal year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. Lam Research’s payout ratio is currently 3.38%.

Insiders Place Their Bets

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LRCX. Kingswood Wealth Advisors LLC raised its position in shares of Lam Research by 5.7% during the first quarter. Kingswood Wealth Advisors LLC now owns 756 shares of the semiconductor company’s stock worth $735,000 after purchasing an additional 41 shares during the period. Brookstone Capital Management raised its holdings in Lam Research by 4.6% during the first quarter. Brookstone Capital Management now owns 660 shares of the semiconductor company’s stock worth $641,000 after buying an additional 29 shares during the last quarter. Aspiriant LLC bought a new position in shares of Lam Research in the first quarter valued at $222,000. Thrive Wealth Management LLC grew its holdings in shares of Lam Research by 25.7% during the first quarter. Thrive Wealth Management LLC now owns 382 shares of the semiconductor company’s stock valued at $371,000 after buying an additional 78 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new stake in shares of Lam Research during the first quarter worth about $175,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.