Lam Research Corporation (NASDAQ:LRCX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Lam Research Corporation (NASDAQ:LRCX) have been given a consensus rating of “Moderate Buy” by the twenty-four research firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $92.78.

Several equities analysts have recently issued reports on LRCX shares. Barclays lowered their price target on Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and raised their price objective for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. TD Cowen lowered their price objective 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. Oppenheimer reissued an “outperform” rating and set a $110.00 target price (up from $80.00) on shares of Lam Research in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the stock a “hold” rating in a report on Thursday, April 24th.

Lam Research Trading Down 0.5%

NASDAQ:LRCX opened at $92.24 on Friday. The stock has a market cap of $117.99 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.30 and a beta of 1.65. Lam Research has a one year low of $56.32 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The business’s 50-day simple moving average is $79.16 and its 200 day simple moving average is $77.49.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the business earned $7.79 EPS. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, sell-side analysts predict that Lam Research will post 3.71 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, July 9th. Investors 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 1.00%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s dividend payout ratio is currently 25.63%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Lam Research by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company’s stock worth $9,389,358,000 after purchasing an additional 8,364,375 shares in the last quarter. FMR LLC increased its position in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after acquiring an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after acquiring an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after acquiring an additional 28,307,499 shares during the period. Finally, Norges Bank bought a new stake in Lam Research in the 4th quarter valued at $1,661,672,000. 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.