Lam Research Co. (NASDAQ:LRCX) Receives $97.59 Consensus Target Price from Analysts

Shares of Lam Research Co. (NASDAQ:LRCX) have earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $97.59.

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a report on Tuesday, February 18th. Mizuho upped their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Barclays decreased 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. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and raised their target price for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th.

Lam Research Price Performance

NASDAQ:LRCX opened at $59.09 on Tuesday. The firm has a market capitalization of $75.85 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business has a 50 day simple moving average of $78.26 and a 200-day simple moving average of $77.07. Lam Research has a 1 year low of $57.97 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Equities analysts forecast that Lam Research will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.56%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at $16,117,560. This represents a 38.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

A number of large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new position in Lam Research during the 3rd quarter valued at approximately $220,000. Kestra Investment Management LLC purchased a new stake in shares of Lam Research during the third quarter valued at $601,000. Benjamin Edwards Inc. increased its position in shares of Lam Research by 4,085.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 13,395 shares of the semiconductor company’s stock valued at $10,932,000 after acquiring an additional 13,075 shares during the period. Community Bank N.A. raised its stake in Lam Research by 12.5% in the 3rd quarter. Community Bank N.A. now owns 1,765 shares of the semiconductor company’s stock worth $1,440,000 after acquiring an additional 196 shares during the last quarter. Finally, Cinctive Capital Management LP acquired a new stake in Lam Research during the 3rd quarter worth about $1,762,000. 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.