Lam Research Co. (NASDAQ:LRCX) Receives Average Recommendation of “Moderate Buy” from Analysts

Lam Research Co. (NASDAQ:LRCX) has earned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $931.85.

A number of brokerages recently issued reports on LRCX. UBS Group boosted their price objective on Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Stifel Nicolaus boosted their price objective on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. The Goldman Sachs Group boosted their price objective on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Barclays upped their price target on Lam Research from $750.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Finally, Raymond James upped their price target on Lam Research from $850.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th.

Insider Activity at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares in the company, valued at $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at $5,386,018.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,029 shares of company stock worth $6,559,489. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Whale Capital LLP grew its position in shares of Lam Research by 0.7% during the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock worth $70,386,000 after buying an additional 800 shares in the last quarter. Everence Capital Management Inc. grew its position in shares of Lam Research by 54.7% during the 4th quarter. Everence Capital Management Inc. now owns 4,073 shares of the semiconductor company’s stock worth $3,190,000 after buying an additional 1,440 shares in the last quarter. Gradient Investments LLC grew its position in shares of Lam Research by 32,411.1% during the 4th quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after buying an additional 14,585 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Lam Research during the 4th quarter worth $7,930,000. Finally, Treasurer of the State of North Carolina grew its position in shares of Lam Research by 0.9% during the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock worth $39,994,000 after buying an additional 560 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

NASDAQ LRCX opened at $868.07 on Tuesday. Lam Research has a 52 week low of $493.42 and a 52 week high of $1,007.39. The firm has a market capitalization of $113.80 billion, a P/E ratio of 33.57, a PEG ratio of 3.15 and a beta of 1.51. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $944.64 and a 200-day moving average price of $804.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 EPS for the quarter, beating the consensus estimate of $7.06 by $0.46. The firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.71 EPS. Equities research analysts anticipate that Lam Research will post 28.92 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.92%. Lam Research’s payout ratio is presently 30.94%.

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.