Lam Research Co. (NASDAQ:LRCX) Receives $97.24 Average PT from Analysts

Shares of Lam Research Co. (NASDAQ:LRCX) have received an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $97.24.

A number of analysts recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. UBS Group dropped their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th.

Lam Research Price Performance

Shares of LRCX opened at $73.83 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The stock has a market cap of $95.00 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46. The stock’s 50-day moving average price is $74.82 and its two-hundred day moving average price is $84.50. Lam Research has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.85 earnings per share. On average, equities analysts predict that Lam Research will post 3.5 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 29.74%.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the business. Jennison Associates LLC increased its holdings in shares of Lam Research by 20.0% during the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after acquiring an additional 39,725 shares during the last quarter. Creative Planning increased its holdings in shares of Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after purchasing an additional 1,146 shares during the last quarter. Vest Financial LLC raised its position in shares of Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after purchasing an additional 14,658 shares during the period. Worldquant Millennium Advisors LLC lifted its stake in shares of Lam Research by 51.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 215,420 shares of the semiconductor company’s stock worth $175,800,000 after buying an additional 73,648 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Lam Research by 9.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 340,855 shares of the semiconductor company’s stock worth $278,165,000 after buying an additional 28,089 shares during the last quarter. Institutional investors 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.