Lam Research (NASDAQ:LRCX) Rating Increased to Overweight at KeyCorp

KeyCorp upgraded shares of Lam Research (NASDAQ:LRCX) from a sector weight rating to an overweight rating in a report published on Friday morning, Marketbeat reports. They currently have $95.00 target price on the semiconductor company’s stock.

Several other brokerages have also issued reports on LRCX. B. Riley reduced their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Sanford C. Bernstein dropped their price target on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Finally, Wells Fargo & Company dropped their price target on Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Trading Up 1.4 %

Shares of NASDAQ:LRCX opened at $80.30 on Friday. The business’s 50-day moving average is $74.73 and its 200 day moving average is $80.81. Lam Research has a 1 year low of $68.87 and a 1 year high of $113.00. The firm has a market capitalization of $103.32 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.37 and a beta of 1.45. 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 announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the company posted $6.85 EPS. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, research analysts predict that Lam Research will post 3.51 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. Lam Research’s dividend payout ratio is currently 29.77%.

Hedge Funds Weigh In On Lam Research

Hedge funds have recently bought and sold shares of the business. Bradley Foster & Sargent Inc. CT raised its holdings in shares of Lam Research by 107.8% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 478 shares of the semiconductor company’s stock valued at $509,000 after acquiring an additional 248 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of Lam Research by 8.0% during the second quarter. Blair William & Co. IL now owns 5,755 shares of the semiconductor company’s stock valued at $6,128,000 after acquiring an additional 426 shares during the last quarter. MQS Management LLC acquired a new position in shares of Lam Research during the second quarter valued at approximately $228,000. Intech Investment Management LLC raised its holdings in shares of Lam Research by 3.1% during the second quarter. Intech Investment Management LLC now owns 12,150 shares of the semiconductor company’s stock valued at $12,938,000 after acquiring an additional 371 shares during the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Lam Research by 5.8% during the second quarter. Ieq Capital LLC now owns 14,655 shares of the semiconductor company’s stock valued at $15,606,000 after acquiring an additional 799 shares during the last quarter. 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.