Lam Research Co. (NASDAQ:LRCX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Lam Research Co. (NASDAQ:LRCX) have been assigned an average recommendation of “Moderate Buy” from the twenty analysts that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $981.29.

LRCX has been the topic of a number of analyst reports. Barclays lifted their target price on shares of Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. upped their price objective on Lam Research from $900.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Citigroup raised their target price on Lam Research from $975.00 to $1,025.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Stifel Nicolaus upped their price target on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Mizuho boosted their price objective on shares of Lam Research from $935.00 to $960.00 and gave the company a “buy” rating in a report on Thursday, April 25th.

Insider Activity

In related news, EVP Patrick J. Lord sold 60 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the sale, the executive vice president now owns 4,454 shares in the company, valued at $4,104,539.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick J. Lord sold 60 shares of Lam Research stock in a transaction on Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the transaction, the executive vice president now owns 4,454 shares in the company, valued at approximately $4,104,539.16. The disclosure for this sale can be found here. Insiders have sold 1,989 shares of company stock worth $1,904,810 over the last three months. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lam Research

Hedge funds and other institutional investors have recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in Lam Research during the 3rd quarter worth $25,000. DSM Capital Partners LLC purchased a new stake in shares of Lam Research during the fourth quarter worth about $28,000. Valued Wealth Advisors LLC acquired a new position in shares of Lam Research in the fourth quarter worth about $30,000. Partnership Wealth Management LLC purchased a new position in Lam Research in the fourth quarter valued at about $33,000. Finally, Jones Financial Companies Lllp acquired a new stake in Lam Research during the 3rd quarter valued at approximately $34,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Up 0.9 %

LRCX stock opened at $1,064.85 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.84. The firm’s fifty day simple moving average is $964.21 and its 200-day simple moving average is $906.76. Lam Research has a 12 month low of $574.42 and a 12 month high of $1,101.81. The company has a market capitalization of $139.22 billion, a P/E ratio of 39.16, a price-to-earnings-growth ratio of 3.64 and a beta of 1.46.

Lam Research’s stock is going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the business posted $6.99 earnings per share. Lam Research’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts forecast that Lam Research will post 29.67 earnings per share for the current year.

Lam Research declared that its board has authorized a share buyback program on Tuesday, May 21st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 18th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, June 18th. Lam Research’s payout ratio is currently 29.42%.

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.