Lam Research (NASDAQ:LRCX) Rating Increased to Overweight at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Lam Research (NASDAQ:LRCX) from a neutral rating to an overweight rating in a research report report published on Thursday, Marketbeat reports. Cantor Fitzgerald currently has $100.00 price target on the semiconductor company’s stock, up from their prior price target of $95.00. Cantor Fitzgerald also issued estimates for Lam Research’s FY2025 earnings at $3.77 EPS.

Several other analysts also recently commented on LRCX. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Finally, Mizuho reduced 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 note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Up 7.4 %

Shares of NASDAQ:LRCX opened at $80.73 on Thursday. 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 has a 52-week low of $68.87 and a 52-week high of $113.00. The firm has a market cap of $103.87 billion, a P/E ratio of 24.52, a PEG ratio of 1.38 and a beta of 1.45. The business’s 50 day simple moving average is $75.72 and its two-hundred day simple moving average is $78.93.

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

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were issued 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 payout ratio is currently 27.95%.

Institutional Trading of Lam Research

A number of hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the last quarter. Swedbank AB lifted its stake in Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after purchasing an additional 2,875,843 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Lam Research by 827.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after buying an additional 2,819,668 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Lam Research in the fourth quarter worth about $175,652,000. Finally, Rhumbline Advisers boosted its holdings in Lam Research by 875.7% during the 4th quarter. Rhumbline Advisers now owns 2,538,109 shares of the semiconductor company’s stock valued at $183,327,000 after acquiring an additional 2,277,989 shares during the period. 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.