Lam Research (NASDAQ:LRCX) has been assigned a consensus recommendation of “Buy” from the twenty-six research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $257.06.
A number of research firms have commented on LRCX. BidaskClub upgraded Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 13th. Credit Suisse Group lifted their target price on Lam Research from $275.00 to $278.00 and gave the company an “outperform” rating in a research report on Wednesday, April 18th. Vetr downgraded Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 target price on the stock. in a research report on Monday, March 12th. JPMorgan Chase restated an “overweight” rating and issued a $275.00 target price on shares of Lam Research in a research report on Wednesday, April 18th. Finally, KeyCorp restated an “overweight” rating and issued a $261.00 target price (up previously from $225.00) on shares of Lam Research in a research report on Wednesday, January 24th.
In related news, insider Richard A. Gottscho sold 16,866 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $210.02, for a total transaction of $3,542,197.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Martin B. Anstice sold 11,200 shares of the business’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $225.00, for a total value of $2,520,000.00. The disclosure for this sale can be found here. Insiders sold a total of 79,148 shares of company stock worth $16,952,340 in the last quarter. Company insiders own 0.41% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lourd Capital LLC acquired a new position in Lam Research during the 4th quarter worth $360,000. Delek Group Ltd. acquired a new position in Lam Research during the 4th quarter worth $957,000. E&G Advisors LP grew its stake in Lam Research by 101.6% during the 4th quarter. E&G Advisors LP now owns 6,250 shares of the semiconductor company’s stock worth $1,150,000 after purchasing an additional 3,150 shares in the last quarter. Assetmark Inc. grew its stake in Lam Research by 6.5% during the 4th quarter. Assetmark Inc. now owns 6,627 shares of the semiconductor company’s stock worth $1,220,000 after purchasing an additional 405 shares in the last quarter. Finally, Bailard Inc. acquired a new position in Lam Research during the 4th quarter worth $4,379,000. 89.55% of the stock is owned by hedge funds and other institutional investors.
Shares of Lam Research stock opened at $195.49 on Monday. Lam Research has a one year low of $139.24 and a one year high of $234.88. The company has a market cap of $33.36 billion, a P/E ratio of 19.59, a P/E/G ratio of 0.65 and a beta of 1.41. The company has a current ratio of 2.64, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Tuesday, April 17th. The semiconductor company reported $4.79 EPS for the quarter, topping the Zacks’ consensus estimate of $4.38 by $0.41. Lam Research had a return on equity of 41.13% and a net margin of 18.32%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the business posted $3.10 earnings per share. The firm’s revenue was up 34.3% compared to the same quarter last year. research analysts predict that Lam Research will post 17.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 27th. Investors of record on Wednesday, June 6th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, June 5th. This is an increase from Lam Research’s previous quarterly dividend of $0.50. Lam Research’s payout ratio is currently 20.04%.
Lam Research announced that its board has initiated a stock buyback plan on Tuesday, March 6th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.
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