Shares of Lam Research Co. (NASDAQ:LRCX) have received a consensus recommendation of “Buy” from the twenty-eight ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, seventeen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $231.62.
LRCX has been the topic of several research analyst reports. Goldman Sachs Group cut shares of Lam Research from a “buy” rating to a “neutral” rating and lowered their price target for the company from $224.00 to $180.00 in a report on Wednesday, September 12th. BidaskClub cut shares of Lam Research from a “sell” rating to a “strong sell” rating in a report on Friday, August 31st. ValuEngine cut shares of Lam Research from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. Bank of America cut shares of Lam Research from a “buy” rating to a “neutral” rating and set a $285.00 price target on the stock. in a report on Tuesday, August 28th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Lam Research in a research note on Monday, July 23rd.
Shares of Lam Research stock traded down $2.09 on Thursday, hitting $145.09. 4,326,200 shares of the company traded hands, compared to its average volume of 3,390,499. The company has a quick ratio of 2.31, a current ratio of 2.90 and a debt-to-equity ratio of 0.27. Lam Research has a 12-month low of $135.99 and a 12-month high of $234.88. The stock has a market cap of $23.10 billion, a P/E ratio of 8.13, a P/E/G ratio of 0.59 and a beta of 1.33.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 EPS for the quarter, beating the consensus estimate of $3.22 by $0.14. Lam Research had a net margin of 21.49% and a return on equity of 47.14%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the company posted $3.46 EPS. Lam Research’s revenue was down 6.0% on a year-over-year basis. On average, equities research analysts expect that Lam Research will post 15.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 26th. Investors of record on Wednesday, September 12th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Tuesday, September 11th. Lam Research’s payout ratio is presently 24.62%.
A number of institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its position in Lam Research by 24.0% during the 3rd quarter. Empowered Funds LLC now owns 18,710 shares of the semiconductor company’s stock worth $2,817,000 after acquiring an additional 3,617 shares during the last quarter. Empirical Finance LLC lifted its position in Lam Research by 114.9% during the 3rd quarter. Empirical Finance LLC now owns 16,650 shares of the semiconductor company’s stock worth $2,526,000 after acquiring an additional 8,902 shares during the last quarter. Aperio Group LLC lifted its position in Lam Research by 4.1% during the 3rd quarter. Aperio Group LLC now owns 100,127 shares of the semiconductor company’s stock worth $15,189,000 after acquiring an additional 3,912 shares during the last quarter. Foundry Partners LLC lifted its position in Lam Research by 18.3% during the 3rd quarter. Foundry Partners LLC now owns 96,292 shares of the semiconductor company’s stock worth $14,607,000 after acquiring an additional 14,872 shares during the last quarter. Finally, RWC Asset Management LLP lifted its position in Lam Research by 77.9% during the 3rd quarter. RWC Asset Management LLP now owns 83,609 shares of the semiconductor company’s stock worth $12,683,000 after acquiring an additional 36,612 shares during the last quarter. 89.21% of the stock is owned by hedge funds and other institutional investors.
Lam Research Company Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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