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

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

Several analysts recently weighed in on LRCX shares. Wells Fargo & Company decreased their price target on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. TD Cowen increased their price target on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 1st. B. Riley decreased their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. BNP Paribas upgraded Lam Research to a “hold” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s 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 owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

A number of institutional investors have recently added to or reduced their stakes in LRCX. CarsonAllaria Wealth Management Ltd. purchased a new stake in Lam Research in the second quarter valued at about $32,000. RFP Financial Group LLC raised its stake in Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Lam Research in the second quarter valued at about $40,000. Country Trust Bank purchased a new stake in Lam Research in the second quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Lam Research in the second quarter valued at about $45,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 0.5 %

Shares of LRCX opened at $76.78 on Friday. The stock has a market capitalization of $98.79 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 1.18 and a beta of 1.48. Lam Research has a 1 year low of $63.67 and a 1 year high of $113.00. The business’s 50 day simple moving average is $77.73 and its 200-day simple moving average is $88.66. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data 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 return on equity of 50.60% and a net margin of 26.02%. The business 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 firm earned $6.85 EPS. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, equities analysts expect that Lam Research will post 3.52 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Tuesday, September 17th. Lam Research’s payout ratio is 29.74%.

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.