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

Lam Research Co. (NASDAQ:LRCX) has received an average rating of “Moderate Buy” from the twenty-five analysts that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $91.56.

A number of research analysts recently issued reports on the stock. TD Securities lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Argus raised Lam Research to a “strong-buy” rating in a research report on Friday, April 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, April 24th. Wells Fargo & Company decreased their target price on Lam Research from $85.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, Mizuho raised their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th.

Lam Research Trading Up 3.6%

Shares of NASDAQ LRCX opened at $83.94 on Wednesday. The business has a 50 day simple moving average of $73.11 and a 200 day simple moving average of $75.78. 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 $107.37 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.47 and a beta of 1.64. 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 posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.79 earnings per share. On average, research analysts predict that Lam Research will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s payout ratio is 25.63%.

Hedge Funds Weigh In On Lam Research

A number of hedge funds have recently modified their holdings of the stock. Financial Perspectives Inc lifted its holdings in shares of 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 acquiring an additional 309 shares during the period. Fairway Wealth LLC increased its position in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 306 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in Lam Research during the 1st quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new position in Lam Research in the fourth quarter valued at about $27,000. Finally, Midwest Capital Advisors LLC acquired a new position in Lam Research in the fourth quarter valued at about $27,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.