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

Lam Research Co. (NASDAQ:LRCX) has been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $97.97.

LRCX has been the subject of several research analyst reports. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. UBS Group lowered their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Finally, Mizuho reduced their price target on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th.

Lam Research Price Performance

NASDAQ LRCX opened at $72.69 on Wednesday. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. Lam Research has a 12 month low of $68.72 and a 12 month high of $113.00. The stock has a market cap of $93.53 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.15 and a beta of 1.48. The company’s 50 day moving average is $76.80 and its two-hundred day moving average is $87.04.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.85 EPS. As a group, research analysts anticipate that Lam Research will post 3.52 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

Insider Buying and Selling at Lam Research

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp lifted its position in shares of Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. State Street Corp lifted its holdings in Lam Research by 1.6% during the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after buying an additional 94,086 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Lam Research by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after buying an additional 64,053 shares in the last quarter. Fisher Asset Management LLC boosted its position in Lam Research by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock valued at $1,527,273,000 after buying an additional 11,093 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Lam Research by 7.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after acquiring an additional 89,470 shares in the last quarter. 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.