Lam Research Co. (NASDAQ:LRCX) Receives $97.97 Average Target Price from Analysts

Shares of Lam Research Co. (NASDAQ:LRCX) have earned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $97.29.

Several research analysts have commented on LRCX shares. Mizuho lowered their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Morgan Stanley lowered their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Citigroup reduced their price objective on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein reduced their price target on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction 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 represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Lam Research

Institutional investors have recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research in the 2nd quarter valued at about $32,000. RFP Financial Group LLC lifted its stake in Lam Research by 52.2% in the second 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 during the period. Hobbs Group Advisors LLC bought a new position in shares of Lam Research during the 2nd quarter worth approximately $40,000. Country Trust Bank acquired a new stake in shares of Lam Research during the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lam Research in the 2nd quarter valued at $45,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 3.2 %

Shares of NASDAQ LRCX opened at $73.88 on Wednesday. Lam Research has a 52 week low of $68.72 and a 52 week high of $113.00. The stock’s fifty day moving average is $76.52 and its 200 day moving average is $86.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock has a market capitalization of $95.06 billion, a P/E ratio of 23.88, a PEG ratio of 1.17 and a beta of 1.48.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the firm earned $6.85 EPS. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. Sell-side analysts forecast that Lam Research will post 3.52 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is presently 29.74%.

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.