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

Lam Research Co. (NASDAQ:LRCX) has received an average rating of “Moderate Buy” from the twenty research firms that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $97.29.

LRCX has been the subject of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Mizuho reduced their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. BNP Paribas upgraded Lam Research to a “hold” rating in a report on Thursday, October 24th. Sanford C. Bernstein cut their target price on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday. Finally, Morgan Stanley decreased their price target on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd.

Insider Activity

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s 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 transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Institutional Trading of Lam Research

Several hedge funds and other institutional investors have recently modified their holdings of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new position in Lam Research in the 2nd quarter valued at $32,000. RFP Financial Group LLC grew its stake in shares of 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 acquiring an additional 12 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Lam Research during the second quarter worth about $40,000. Country Trust Bank acquired a new stake in Lam Research in the 2nd quarter worth about $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lam Research in the 2nd quarter valued at about $45,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 3.2 %

NASDAQ LRCX opened at $73.88 on Wednesday. Lam Research has a one year low of $68.72 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a market cap of $95.06 billion, a P/E ratio of 23.88, a P/E/G ratio of 1.17 and a beta of 1.48. The stock’s 50-day moving average is $76.52 and its 200-day moving average is $86.64.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the company posted $6.85 EPS. Sell-side analysts anticipate that Lam Research will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.25%. Lam Research’s dividend 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.