Brokerages Set Lam Research Co. (NASDAQ:LRCX) Target Price at $92.70

Lam Research Co. (NASDAQ:LRCX) has earned a consensus rating of “Moderate Buy” from the twenty-five brokerages that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $91.56.

Several research analysts have weighed in on LRCX shares. Evercore ISI upped their target price on Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. TD Securities dropped their price objective on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Argus upgraded shares of Lam Research to a “strong-buy” rating in a research note on Friday, April 25th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and increased their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group decreased their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lam Research

A number of hedge funds and other institutional investors have recently made changes to their positions in LRCX. Financial Perspectives Inc boosted its holdings in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC boosted its stake in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 306 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in Lam Research in the first quarter valued at $26,000. Atwood & Palmer Inc. acquired a new position in Lam Research during the fourth quarter worth $27,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of Lam Research during the fourth quarter valued at $27,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Performance

LRCX stock opened at $74.52 on Friday. The firm has a 50 day simple moving average of $71.83 and a 200 day simple moving average of $75.14. Lam Research has a 52 week low of $56.32 and a 52 week high of $113.00. The stock has a market cap of $95.32 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business posted $7.79 EPS. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. Research analysts anticipate that Lam Research will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 25.63%.

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.