Lam Research (NASDAQ:LRCX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Lam Research (NASDAQ:LRCX) from a hold rating to a buy rating in a research report sent to investors on Thursday.

A number of other equities research analysts have also recently issued reports on LRCX. Citigroup dropped their target price on shares of Lam Research from $99.00 to $89.30 and set a buy rating on the stock in a report on Monday, September 16th. Cantor Fitzgerald cut their price objective on Lam Research from $120.00 to $100.00 and set a neutral rating for the company in a research report on Monday, September 30th. TD Cowen boosted their target price on Lam Research from $100.00 to $105.00 and gave the stock a buy rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price target on Lam Research from $110.00 to $95.00 and set a buy rating for the company in a report on Thursday, August 1st. Finally, Barclays upped their price objective on shares of Lam Research from $86.50 to $90.00 and gave the company an equal weight rating in a report on Wednesday, June 5th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research has a consensus rating of Moderate Buy and an average target price of $141.28.

Lam Research Stock Up 0.5 %

NASDAQ:LRCX opened at $81.54 on Thursday. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 3.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. Lam Research has a twelve month low of $57.44 and a twelve month high of $113.00. The stock’s 50 day moving average price is $95.29 and its two-hundred day moving average price is $96.75.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. Equities research analysts expect that Lam Research will post 35.2 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.13%. Lam Research’s dividend payout ratio is 33.84%.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction 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 owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Neil J. Fernandes sold 16,200 shares of the company’s stock in a transaction that occurred 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 owns 52,370 shares of the company’s stock, valued at approximately $5,535,456.63. This represents a 0.00 % decrease in their ownership of the stock. 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

Several hedge funds have recently modified their holdings of the company. 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 worth $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock valued at $2,329,037,000 after buying an additional 86,721 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after buying an additional 142,903 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Lam Research by 7.7% during 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 during the last quarter. Finally, Van ECK Associates Corp increased its position in Lam Research by 11.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock valued at $1,145,664,000 after acquiring an additional 107,778 shares during the period. Institutional investors and hedge funds 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.