Lam Research Co. (NASDAQ:LRCX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Lam Research Co. (NASDAQ:LRCX) has earned a consensus rating of “Moderate Buy” from the twenty analysts that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $97.29.

Several brokerages have recently issued reports on LRCX. B. Riley lowered their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. UBS Group dropped their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Wells Fargo & Company reduced their target price on Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Finally, BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th.

Lam Research Stock Down 0.2 %

Shares of Lam Research stock opened at $78.34 on Wednesday. Lam Research has a 52-week low of $68.72 and a 52-week high of $113.00. The company has a 50 day moving average of $76.54 and a 200 day moving average of $86.41. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $100.80 billion, a P/E ratio of 25.32, a P/E/G ratio of 1.25 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the firm posted $6.85 earnings per share. The company’s revenue was up 19.7% compared to the same quarter last year. As a group, research analysts forecast that Lam Research will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

Insiders Place Their Bets

In related news, CAO Christina Correia sold 647 shares of the firm’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 value 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 $3,488,315.17. This trade represents a 13.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LRCX. CarsonAllaria Wealth Management Ltd. purchased a new position in Lam Research during the 2nd quarter valued at about $32,000. RFP Financial Group LLC increased its stake in shares of Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Lam Research during the 2nd quarter worth approximately $40,000. Country Trust Bank purchased a new stake in Lam Research in the 2nd quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Lam Research during the 2nd quarter valued at $45,000. Hedge funds and other 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.