Lam Research (NASDAQ:LRCX) Upgraded at KeyCorp

KeyCorp upgraded shares of Lam Research (NASDAQ:LRCX) from a sector weight rating to an overweight rating in a research report sent to investors on Friday, MarketBeat reports. KeyCorp currently has $95.00 price target on the semiconductor company’s stock.

A number of other analysts also recently issued reports on LRCX. Morgan Stanley lifted their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Sanford C. Bernstein dropped their target price on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a report on Friday, November 29th. Finally, StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.

Lam Research Stock Up 1.4 %

Shares of LRCX opened at $80.30 on Friday. The business’s 50 day moving average is $74.73 and its 200 day moving average is $80.81. The company has a market capitalization of $103.32 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. Lam Research has a 12-month low of $68.87 and a 12-month high of $113.00. 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 (NASDAQ:LRCX) last released 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 business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. Research analysts expect that Lam Research will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s payout ratio is currently 29.77%.

Institutional Investors Weigh In On Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the company. Atwood & Palmer Inc. bought a new stake in Lam Research during the 4th quarter valued at $27,000. West Oak Capital LLC raised its position in Lam Research by 50.9% during the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Finley Financial LLC bought a new stake in Lam Research during the 4th quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC raised its position in Lam Research by 159.1% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 307 shares in the last quarter. Finally, Laurel Wealth Advisors LLC bought a new stake in Lam Research during the 4th quarter valued at $37,000. 84.61% of the stock is owned by institutional investors.

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.