Lam Research (NASDAQ:LRCX) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Lam Research (NASDAQ:LRCX) in a research report sent to investors on Thursday,Benzinga reports. Needham & Company LLC currently has a $90.00 target price on the semiconductor company’s stock.

Several other research firms have also issued reports on LRCX. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Mizuho dropped their target price on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Morgan Stanley boosted their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Barclays dropped their price objective on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Wolfe Research downgraded Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Trading Up 7.4 %

Shares of LRCX stock opened at $80.73 on Thursday. The firm has a fifty day moving average of $75.88 and a 200-day moving average of $78.94. The stock has a market cap of $103.87 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 1.38 and a beta of 1.45. Lam Research has a 52-week low of $68.87 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 52.58%. On average, equities research analysts forecast that Lam Research will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 27.95%.

Institutional Investors Weigh In On Lam Research

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atwood & Palmer Inc. acquired a new position in shares of Lam Research during the 4th quarter worth about $27,000. West Oak Capital LLC grew its holdings in Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Country Trust Bank increased its stake in Lam Research by 900.0% in the fourth quarter. Country Trust Bank now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 360 shares in the last quarter. Finley Financial LLC acquired a new stake in Lam Research in the fourth quarter worth $30,000. Finally, Stephens Consulting LLC boosted its position in shares of Lam Research by 900.0% during the fourth quarter. Stephens Consulting LLC now owns 430 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 387 shares in 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.