Lam Research (LRCX) Downgraded by Vetr

Vetr cut shares of Lam Research (NASDAQ:LRCX) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday. The firm currently has $218.49 price target on the semiconductor company’s stock.

A number of other equities analysts also recently weighed in on the company. Deutsche Bank upped their target price on Lam Research to $230.00 and gave the company a buy rating in a report on Wednesday, November 15th. KeyCorp reiterated a buy rating and issued a $225.00 target price on shares of Lam Research in a report on Sunday, November 19th. DA Davidson reiterated a buy rating and issued a $215.00 target price on shares of Lam Research in a report on Thursday, October 12th. Royal Bank of Canada upped their target price on Lam Research from $210.00 to $225.00 and gave the company an outperform rating in a report on Wednesday, November 15th. Finally, B. Riley reiterated a buy rating and issued a $250.00 target price on shares of Lam Research in a report on Tuesday, November 14th. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Lam Research currently has an average rating of Buy and an average target price of $220.80.

Shares of Lam Research (LRCX) traded up $0.37 on Wednesday, hitting $205.45. The stock had a trading volume of 4,198,408 shares, compared to its average volume of 3,000,000. The firm has a market cap of $33,270.00, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 0.87 and a beta of 1.57. Lam Research has a one year low of $109.33 and a one year high of $219.70. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.46 billion. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The firm’s quarterly revenue was up 51.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 EPS. equities analysts predict that Lam Research will post 14.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.97%. This is a boost from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s dividend payout ratio is presently 18.26%.

Lam Research announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other Lam Research news, Director Michael R. Cannon sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $212.43, for a total transaction of $1,911,870.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Patrick J. Lord sold 264 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $216.08, for a total value of $57,045.12. The disclosure for this sale can be found here. Insiders have sold 31,269 shares of company stock valued at $6,615,633 in the last ninety days. Company insiders own 0.41% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BKD Wealth Advisors LLC boosted its position in shares of Lam Research by 13.5% in the fourth quarter. BKD Wealth Advisors LLC now owns 2,803 shares of the semiconductor company’s stock valued at $516,000 after acquiring an additional 333 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Lam Research by 3.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 610,178 shares of the semiconductor company’s stock valued at $112,316,000 after acquiring an additional 20,480 shares during the period. Coastline Trust Co bought a new stake in shares of Lam Research in the fourth quarter valued at approximately $265,000. Koshinski Asset Management Inc. boosted its position in shares of Lam Research by 10.0% in the fourth quarter. Koshinski Asset Management Inc. now owns 10,320 shares of the semiconductor company’s stock valued at $1,900,000 after acquiring an additional 935 shares during the period. Finally, First National Trust Co bought a new stake in shares of Lam Research in the fourth quarter valued at approximately $201,000. 93.45% of the stock is owned by institutional investors.

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About Lam Research

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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