Lam Research Co. (NASDAQ:LRCX) Receives $96.59 Average Price Target from Analysts

Lam Research Co. (NASDAQ:LRCX) has been given a consensus rating of “Moderate Buy” by the twenty-two ratings firms that are currently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $95.77.

A number of brokerages recently weighed in on LRCX. Barclays decreased their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein dropped their target price on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, November 29th.

Institutional Trading of Lam Research

A number of institutional investors have recently bought and sold shares of LRCX. Quarry LP boosted its position in shares of Lam Research by 175.0% in the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after buying an additional 56 shares in the last quarter. NCP Inc. acquired a new position in Lam Research during the second quarter worth about $213,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Lam Research by 2,400.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares in the last quarter. Mill Creek Capital Advisors LLC acquired a new stake in shares of Lam Research in the second quarter valued at approximately $226,000. Finally, MQS Management LLC purchased a new position in shares of Lam Research during the 2nd quarter worth approximately $228,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Up 1.4 %

Lam Research stock opened at $80.30 on Thursday. The company has a market capitalization of $103.32 billion, a P/E ratio of 25.95, a PEG ratio of 1.37 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The stock has a 50-day simple moving average of $74.73 and a 200-day simple moving average of $80.63.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data 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. The company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.85 earnings per share. Equities research analysts expect that Lam Research will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, December 11th. Lam Research’s payout ratio is currently 29.74%.

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.