Weekly Investment Analysts’ Ratings Updates for Lam Research (LRCX)

Several brokerages have updated their recommendations and price targets on shares of Lam Research (NASDAQ: LRCX) in the last few weeks:

• 9/30/2024 – Lam Research had its price target lowered by analysts at Cantor Fitzgerald from $120.00 to $100.00. They now have a “neutral” rating on the stock.
• 9/20/2024 – Lam Research had its price target lowered by analysts at Mizuho from $105.00 to $95.00. They now have an “outperform” rating on the stock.
• 9/17/2024 – Lam Research had its price target lowered by analysts at Morgan Stanley from $92.90 to $77.40. They now have an “equal weight” rating on the stock.
• 9/16/2024 – Lam Research had its price target lowered by analysts at Citigroup Inc. from $99.00 to $89.30. They now have a “buy” rating on the stock.
• 9/12/2024 – Lam Research had its price target lowered by analysts at UBS Group AG from $125.00 to $115.00. They now have a “buy” rating on the stock.
• 8/5/2024 – Lam Research had its price target lowered by analysts at Citigroup Inc. from $102.50 to $99.00. They now have a “buy” rating on the stock.

Lam Research Trading Up 3.3 %

Shares of LRCX stock traded up $26.13 on Wednesday, reaching $823.51. 442,254 shares of the company’s stock were exchanged, compared to its average volume of 1,104,330. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00. The company has a current ratio of 2.97, a quick ratio of 2.00 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $107.67 billion, a PE ratio of 30.29, a P/E/G ratio of 1.51 and a beta of 1.48. The company’s fifty day simple moving average is $811.37 and its 200 day simple moving average is $918.60.

Shares of Lam Research are set 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 announced its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.05. Lam Research had a return on equity of 48.71% and a net margin of 25.68%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, analysts forecast that Lam Research Co. will post 35.2 EPS for the current year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.11%. Lam Research’s dividend payout ratio (DPR) is presently 33.84%.

Insider Activity

In other Lam Research news, SVP Neil J. Fernandes sold 16,200 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $105.70, for a total transaction of $1,712,323.80. Following the transaction, the senior vice president now directly owns 52,370 shares in the company, valued at $5,535,456.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Neil J. Fernandes sold 16,200 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $105.70, for a total value of $1,712,323.80. Following the transaction, the senior vice president now owns 52,370 shares of the company’s stock, valued at $5,535,456.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

A number of institutional investors and hedge funds have recently bought and sold shares of LRCX. Vanguard Group Inc. increased its holdings in Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Lam Research by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after purchasing an additional 86,721 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Lam Research by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Lam Research by 7.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock valued at $1,335,522,000 after acquiring an additional 89,470 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Lam Research by 11.1% during the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock worth $1,145,664,000 after buying an additional 107,778 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.