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

Shares of Lam Research Co. (NASDAQ:LRCX) have been given an average rating of “Moderate Buy” by the nineteen analysts that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $141.28.

LRCX has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $113.00 target price on shares of Lam Research in a research report on Thursday, August 1st. UBS Group reduced their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. TD Cowen boosted their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company reduced their price target on shares of Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Cantor Fitzgerald lowered their price objective on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, September 30th.

Insider Activity

In other Lam Research 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 $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

A number of institutional investors have recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Lam Research in the 2nd quarter worth about $32,000. RFP Financial Group LLC increased its position in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares in the last quarter. Raleigh Capital Management Inc. increased its position in Lam Research by 78.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 22 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in Lam Research in the second quarter worth $40,000. Finally, Country Trust Bank bought a new stake in Lam Research in the second quarter worth $43,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 3.4 %

Shares of LRCX stock opened at $85.70 on Tuesday. The company has a market capitalization of $11.20 billion, a PE ratio of 3.15, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. Lam Research has a 52-week low of $57.44 and a 52-week high of $113.00. The business’s fifty day moving average is $95.13 and its 200 day moving average is $96.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. On average, equities research analysts anticipate that Lam Research will post 3.52 EPS for the current fiscal year.

Lam Research Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. Lam Research’s dividend payout ratio is 3.38%.

Lam Research Company Profile

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.