Lam Research (NASDAQ:LRCX) Given Neutral Rating at Cantor Fitzgerald

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

A number of other brokerages also recently issued reports on LRCX. Stifel Nicolaus boosted their price target on Lam Research from $950.00 to $1,050.00 and gave the company a buy rating in a report on Tuesday, April 16th. UBS Group boosted their price target on Lam Research from $885.00 to $1,130.00 and gave the company a buy rating in a report on Tuesday, March 5th. Citigroup boosted their price target on Lam Research from $800.00 to $975.00 and gave the company a buy rating in a report on Thursday, January 25th. Evercore ISI started coverage on Lam Research in a report on Tuesday, April 16th. They set an outperform rating and a $1,200.00 price target on the stock. Finally, Mizuho boosted their price target on Lam Research from $935.00 to $960.00 and gave the company a buy rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $950.85.

Lam Research Stock Up 1.9 %

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

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping the consensus estimate of $7.26 by $0.53. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a return on equity of 45.76% and a net margin of 25.35%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.99 earnings per share. On average, equities analysts expect that Lam Research will post 28.96 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.89%. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,029 shares of company stock valued at $6,559,489. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

A number of institutional investors have recently bought and sold shares of the business. Arlington Trust Co LLC increased its stake in Lam Research by 7.7% in the 4th quarter. Arlington Trust Co LLC now owns 182 shares of the semiconductor company’s stock worth $143,000 after buying an additional 13 shares in the last quarter. Capital Performance Advisors LLP boosted its holdings in shares of Lam Research by 2.2% during the 4th quarter. Capital Performance Advisors LLP now owns 613 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 13 shares during the last quarter. Van Leeuwen & Company LLC boosted its holdings in shares of Lam Research by 0.5% during the 4th quarter. Van Leeuwen & Company LLC now owns 2,583 shares of the semiconductor company’s stock valued at $2,023,000 after purchasing an additional 13 shares during the last quarter. Busey Bank boosted its holdings in shares of Lam Research by 1.5% during the 1st quarter. Busey Bank now owns 869 shares of the semiconductor company’s stock valued at $844,000 after purchasing an additional 13 shares during the last quarter. Finally, First Affirmative Financial Network boosted its holdings in shares of Lam Research by 2.5% during the 1st quarter. First Affirmative Financial Network now owns 525 shares of the semiconductor company’s stock valued at $510,000 after purchasing an additional 13 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.