Lam Research (LRCX) – Analysts’ Recent Ratings Updates

Posted by Michael Baxter on Jun 17th, 2024

Lam Research (NASDAQ: LRCX) recently received a number of ratings updates from brokerages and research firms:

6/17/2024 – Lam Research had its price target raised by analysts at Wells Fargo & Company from $980.00 to $1,100.00. They now have an “equal weight” rating on the stock.
6/13/2024 – Lam Research was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
6/7/2024 – Lam Research had its price target raised by analysts at Raymond James from $950.00 to $1,060.00. They now have an “outperform” rating on the stock.
6/5/2024 – Lam Research had its price target raised by analysts at Barclays PLC from $865.00 to $900.00. They now have an “equal weight” rating on the stock.
6/5/2024 – Lam Research was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
5/15/2024 – Lam Research was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
5/13/2024 – Lam Research is now covered by analysts at Jefferies Financial Group Inc.. They set a “buy” rating and a $1,100.00 price target on the stock.
5/4/2024 – Lam Research was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
4/26/2024 – Lam Research was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
4/25/2024 – Lam Research had its price target raised by analysts at JPMorgan Chase & Co. from $900.00 to $950.00. They now have an “overweight” rating on the stock.
4/25/2024 – Lam Research had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $1,100.00 price target on the stock.
4/25/2024 – Lam Research had its price target lowered by analysts at Susquehanna from $880.00 to $850.00. They now have a “neutral” rating on the stock.
4/25/2024 – Lam Research had its price target raised by analysts at Barclays PLC from $825.00 to $865.00. They now have an “equal weight” rating on the stock.
4/25/2024 – Lam Research had its price target raised by analysts at Citigroup Inc. from $975.00 to $1,025.00. They now have a “buy” rating on the stock.
4/25/2024 – Lam Research had its price target raised by analysts at UBS Group AG from $1,130.00 to $1,150.00. They now have a “buy” rating on the stock.
4/25/2024 – Lam Research had its price target raised by analysts at Mizuho from $935.00 to $960.00. They now have a “buy” rating on the stock.
4/25/2024 – Lam Research had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $1,030.00 price target on the stock.
4/25/2024 – Lam Research had its price target raised by analysts at TD Cowen from $975.00 to $1,000.00. They now have a “buy” rating on the stock.
4/19/2024 – Lam Research was upgraded by analysts at B. Riley from a “neutral” rating to a “buy” rating. They now have a $1,100.00 price target on the stock, up previously from $870.00.
4/18/2024 – Lam Research had its price target raised by analysts at Needham & Company LLC from $900.00 to $1,030.00. They now have a “buy” rating on the stock.

Lam Research Stock Performance

LRCX traded up $35.72 during midday trading on Monday, reaching $1,071.70. The company had a trading volume of 984,165 shares, compared to its average volume of 1,013,775. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average of $940.35 and a two-hundred day moving average of $883.58. The company has a market cap of $140.11 billion, a P/E ratio of 39.42, a P/E/G ratio of 3.58 and a beta of 1.46. Lam Research Co. has a 1 year low of $574.42 and a 1 year high of $1,073.39.

Lam Research shares are set to split on the morning of Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the business posted $6.99 earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts predict that Lam Research Co. will post 29.67 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 18th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, June 18th. Lam Research’s dividend payout ratio is currently 29.42%.

Insider Buying and Selling

In other Lam Research news, insider George M. Schisler sold 400 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $908.21, for a total transaction of $363,284.00. Following the completion of the transaction, the insider now owns 5,661 shares in the company, valued at approximately $5,141,376.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Abhijit Y. Talwalkar sold 882 shares of the firm’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 completion of the sale, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider George M. Schisler sold 400 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $908.21, for a total value of $363,284.00. Following the completion of the sale, the insider now directly owns 5,661 shares of the company’s stock, valued at $5,141,376.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,989 shares of company stock worth $1,904,810. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

Institutional investors have recently modified their holdings of the stock. Keynote Financial Services LLC bought a new stake in shares of Lam Research during the 1st quarter worth approximately $329,000. Jackson Wealth Management LLC lifted its stake in shares of Lam Research by 3.5% during the 1st quarter. Jackson Wealth Management LLC now owns 9,796 shares of the semiconductor company’s stock worth $9,517,000 after acquiring an additional 329 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Lam Research by 15.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 353 shares of the semiconductor company’s stock worth $316,000 after acquiring an additional 46 shares during the last quarter. Tactive Advisors LLC lifted its stake in shares of Lam Research by 5.7% during the 1st quarter. Tactive Advisors LLC now owns 408 shares of the semiconductor company’s stock worth $396,000 after acquiring an additional 22 shares during the last quarter. Finally, Cambridge Trust Co. lifted its stake in shares of Lam Research by 34.2% during the 1st quarter. Cambridge Trust Co. now owns 200 shares of the semiconductor company’s stock worth $194,000 after acquiring an additional 51 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

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.