Shares of Lam Research Co. (NASDAQ:LRCX) have earned an average rating of “Buy” from the twenty-six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, twenty-one have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $255.60.
LRCX has been the subject of several analyst reports. Mizuho initiated coverage on Lam Research in a research note on Tuesday, March 27th. They issued a “buy” rating and a $250.00 target price for the company. Bank of America initiated coverage on Lam Research in a research note on Wednesday, March 21st. They issued a “buy” rating and a $305.00 target price for the company. Vetr lowered Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 target price for the company. in a research note on Monday, March 12th. DA Davidson upped their price target on Lam Research to $275.00 and gave the stock a “buy” rating in a research note on Thursday, March 8th. Finally, B. Riley upped their price target on Lam Research from $270.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, April 18th.
Lam Research stock opened at $171.82 on Tuesday. The firm has a market capitalization of $27.44 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 0.55 and a beta of 1.42. Lam Research has a 52 week low of $140.67 and a 52 week high of $234.88. The company has a quick ratio of 2.21, a current ratio of 2.64 and a debt-to-equity ratio of 0.26.
Lam Research (NASDAQ:LRCX) last released its earnings results on Tuesday, April 17th. The semiconductor company reported $4.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.38 by $0.41. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.85 billion. Lam Research had a return on equity of 41.13% and a net margin of 18.32%. The business’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.10 earnings per share. research analysts predict that Lam Research will post 17.5 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 27th. Stockholders of record on Wednesday, June 6th were paid a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, June 5th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.56%. This is a positive change from Lam Research’s previous quarterly dividend of $0.50. Lam Research’s dividend payout ratio (DPR) is 44.09%.
In other news, insider Timothy Archer sold 5,000 shares of the stock in a transaction dated Tuesday, April 17th. The stock was sold at an average price of $210.00, for a total value of $1,050,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Martin B. Anstice sold 25,122 shares of the stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $203.83, for a total value of $5,120,617.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,330 shares of company stock valued at $8,322,796. Insiders own 0.41% of the company’s stock.
Several hedge funds have recently bought and sold shares of LRCX. Baird Financial Group Inc. grew its stake in shares of Lam Research by 53.0% in the fourth quarter. Baird Financial Group Inc. now owns 3,737 shares of the semiconductor company’s stock valued at $688,000 after buying an additional 1,294 shares in the last quarter. Assetmark Inc. boosted its holdings in Lam Research by 6.5% in the fourth quarter. Assetmark Inc. now owns 6,627 shares of the semiconductor company’s stock valued at $1,220,000 after purchasing an additional 405 shares during the last quarter. Lombard Odier Asset Management Switzerland SA boosted its holdings in Lam Research by 38.0% in the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 19,190 shares of the semiconductor company’s stock valued at $3,532,000 after purchasing an additional 5,289 shares during the last quarter. 180 Wealth Advisors LLC purchased a new position in Lam Research in the fourth quarter valued at about $300,000. Finally, Alliancebernstein L.P. boosted its holdings in Lam Research by 86.3% in the fourth quarter. Alliancebernstein L.P. now owns 561,218 shares of the semiconductor company’s stock valued at $103,303,000 after purchasing an additional 259,974 shares during the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.
Lam Research Company Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.
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