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 ratings firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $97.03.

A number of equities research analysts recently issued reports on the company. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. TD Cowen increased their price objective on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price target on Lam Research from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Finally, Stifel Nicolaus restated 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.

Lam Research Price Performance

Lam Research stock opened at $74.80 on Friday. Lam Research has a one year low of $61.82 and a one year high of $113.00. The business has a fifty day moving average price of $78.15 and a 200-day moving average price of $89.03. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a market capitalization of $96.24 billion, a P/E ratio of 24.18, a PEG ratio of 1.22 and a beta of 1.47.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the business posted $6.85 earnings per share. The firm’s revenue was up 19.7% compared to the same quarter last year. As a group, equities research analysts forecast that Lam Research will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a $0.23 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. Lam Research’s payout ratio is presently 29.74%.

Insider Buying and Selling

In related news, 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 sale, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. purchased a new position in Lam Research during the second quarter valued at $32,000. RFP Financial Group LLC lifted its position in Lam Research by 52.2% during 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 purchased a new position in Lam Research during the second quarter valued at $40,000. Country Trust Bank purchased a new position in Lam Research during the second quarter valued at $43,000. Finally, MFA Wealth Advisors LLC purchased a new position in Lam Research during the second quarter valued at $45,000. Institutional investors own 84.61% 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. 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.