Lam Research (NASDAQ:LRCX) Earns “Buy” Rating from Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Lam Research (NASDAQ:LRCX) in a research report report published on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a $100.00 price objective on the semiconductor company’s stock, down from their prior price objective of $105.00.

Several other analysts have also commented on LRCX. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Mizuho reduced their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. TD Cowen lifted their price target on shares of Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Citigroup reduced their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Lam Research Trading Up 1.4 %

LRCX opened at $77.68 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.97 and a quick ratio of 2.00. The company’s 50 day simple moving average is $79.21 and its two-hundred day simple moving average is $89.66. Lam Research has a 1-year low of $57.44 and a 1-year high of $113.00. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 2.86, a price-to-earnings-growth ratio of 1.89 and a beta of 1.47.

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

Lam Research Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is 3.38%.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

A number of large investors have recently bought and sold shares of LRCX. Kingswood Wealth Advisors LLC raised its stake in 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 stake 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 purchasing an additional 29 shares during the period. Aspiriant LLC purchased a new position in Lam Research during the first quarter worth approximately $222,000. Thrive Wealth Management LLC raised its stake in Lam Research by 25.7% during the first quarter. Thrive Wealth Management LLC now owns 382 shares of the semiconductor company’s stock worth $371,000 after purchasing an additional 78 shares during the period. Finally, Register Financial Advisors LLC purchased a new position in Lam Research during the first quarter worth approximately $175,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

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.