Lam Research Co. (NASDAQ:LRCX) Receives $97.24 Consensus Target Price from Analysts

Lam Research Co. (NASDAQ:LRCX) has been given an average rating of “Moderate Buy” by the twenty analysts that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $97.24.

A number of equities research analysts have recently issued reports on LRCX shares. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Citigroup lowered their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Morgan Stanley increased their price target on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th.

Lam Research Stock Up 0.2 %

Lam Research stock opened at $73.99 on Friday. Lam Research has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The company has a market capitalization of $95.20 billion, a P/E ratio of 23.91, a PEG ratio of 1.22 and a beta of 1.46. The stock has a 50-day simple moving average of $74.78 and a 200-day simple moving average of $84.11.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data 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 net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the previous year, the company posted $6.85 EPS. Lam Research’s revenue was up 19.7% compared to the same quarter last year. Equities research analysts expect that Lam Research will post 3.5 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.24%. Lam Research’s dividend payout ratio (DPR) is presently 29.77%.

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the completion of the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several hedge funds and other institutional investors have recently modified their holdings of LRCX. Legacy Wealth Management LLC MS bought a new stake in shares of Lam Research during the third quarter valued at approximately $513,000. Dantai Capital Ltd grew its holdings in shares of Lam Research by 44.6% in the 3rd quarter. Dantai Capital Ltd now owns 1,815 shares of the semiconductor company’s stock worth $1,481,000 after acquiring an additional 560 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in Lam Research in the 3rd quarter worth about $362,000. Synovus Financial Corp raised its position in Lam Research by 22.4% during the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock valued at $2,508,000 after buying an additional 561 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of Lam Research by 409.6% during the 3rd quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock valued at $30,538,000 after buying an additional 30,077 shares during the period. 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.