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

Shares of Lam Research Co. (NASDAQ:LRCX) have been assigned a consensus recommendation of “Moderate Buy” from the twenty research firms that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $97.24.

Several equities research analysts recently issued reports on LRCX shares. Citigroup reduced their price objective on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Mizuho decreased their price target on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, UBS Group dropped their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th.

Lam Research Stock Performance

Shares of LRCX stock opened at $73.40 on Friday. Lam Research has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The stock’s 50-day moving average is $74.80 and its two-hundred day moving average is $83.93. 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 cap of $94.44 billion, a P/E ratio of 23.72, a PEG ratio of 1.22 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.85 earnings per share. Analysts predict that Lam Research will post 3.5 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Wednesday, December 11th. Lam Research’s payout ratio is presently 29.77%.

Insider Activity at Lam Research

In related news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction dated 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 owns 4,267 shares of the company’s stock, valued at $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

Several large investors have recently modified their holdings of LRCX. Rosenberg Matthew Hamilton boosted its stake in Lam Research by 24.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 62 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 12 shares in the last quarter. Tobam bought a new stake in shares of Lam Research in the 2nd quarter worth about $75,000. Quarry LP increased its position in shares of Lam Research by 175.0% during the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 56 shares in the last quarter. SouthState Corp lifted its holdings in Lam Research by 163.4% during the 2nd quarter. SouthState Corp now owns 108 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 67 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Lam Research in the second quarter valued at about $142,000. 84.61% of the stock is currently owned by institutional investors.

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.