Lam Research (NASDAQ:LRCX) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Lam Research (NASDAQ:LRCX) in a report issued on Thursday morning, Benzinga reports. Cantor Fitzgerald currently has a $1,100.00 price target on the semiconductor company’s stock. Cantor Fitzgerald also issued estimates for Lam Research’s FY2024 earnings at $29.66 EPS.

LRCX has been the topic of a number of other research reports. Needham & Company LLC reiterated a buy rating and set a $1,030.00 price target on shares of Lam Research in a research note on Thursday. Mizuho lifted their price objective on Lam Research from $935.00 to $960.00 and gave the company a buy rating in a report on Thursday. UBS Group lifted their price objective on Lam Research from $885.00 to $1,130.00 and gave the company a buy rating in a report on Tuesday, March 5th. Susquehanna cut their price objective on Lam Research from $880.00 to $850.00 and set a neutral rating for the company in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Lam Research in a report on Thursday, April 11th. They set a hold rating and a $1,000.00 price objective for the company. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Lam Research presently has an average rating of Moderate Buy and an average price target of $950.85.

Lam Research Trading Up 1.9 %

NASDAQ:LRCX opened at $901.47 on Thursday. Lam Research has a 12 month low of $493.42 and a 12 month high of $1,007.39. The firm has a market cap of $118.18 billion, a price-to-earnings ratio of 33.15, a P/E/G ratio of 3.20 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $943.68 and its 200-day moving average is $807.04.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.26 by $0.53. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. Lam Research had a net margin of 25.35% and a return on equity of 45.76%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $6.99 earnings per share. Equities analysts anticipate that Lam Research will post 28.96 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.89%. Lam Research’s payout ratio is currently 29.42%.

Insider Transactions at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lam Research

Large investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its stake in shares of Lam Research by 28.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,458 shares of the semiconductor company’s stock worth $1,541,000 after purchasing an additional 549 shares in the last quarter. Strategic Blueprint LLC boosted its holdings in shares of Lam Research by 18.2% in the 3rd quarter. Strategic Blueprint LLC now owns 1,137 shares of the semiconductor company’s stock valued at $713,000 after buying an additional 175 shares during the last quarter. Oak Thistle LLC boosted its holdings in shares of Lam Research by 14.5% in the 3rd quarter. Oak Thistle LLC now owns 530 shares of the semiconductor company’s stock valued at $332,000 after buying an additional 67 shares during the last quarter. Czech National Bank boosted its holdings in shares of Lam Research by 46.5% in the 3rd quarter. Czech National Bank now owns 23,297 shares of the semiconductor company’s stock valued at $14,602,000 after buying an additional 7,393 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Lam Research by 2.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 62,610 shares of the semiconductor company’s stock valued at $39,242,000 after buying an additional 1,217 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.