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

Shares of Lam Research Co. (NASDAQ:LRCX) have been given a consensus rating of “Moderate Buy” by the twenty-one ratings firms that are currently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $848.27.

A number of equities research analysts recently weighed in on LRCX shares. Needham & Company LLC upped their price objective on Lam Research from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Stifel Nicolaus boosted their price objective on shares of Lam Research from $850.00 to $950.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. UBS Group raised their target price on shares of Lam Research from $885.00 to $1,130.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. The Goldman Sachs Group lifted their price target on shares of Lam Research from $700.00 to $912.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a report on Thursday, April 11th. They set a “hold” rating and a $1,000.00 price objective for the company.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now directly owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction 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 document filed with the SEC, which can be accessed through this link. Also, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares of the company’s stock, valued at approximately $5,386,018.23. 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. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

A number of institutional investors have recently added to or reduced their stakes in the stock. Blue Whale Capital LLP lifted its stake in Lam Research by 0.7% in the 3rd quarter. Blue Whale Capital LLP now owns 112,300 shares of the semiconductor company’s stock valued at $70,386,000 after buying an additional 800 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Lam Research by 32,411.1% in the fourth quarter. Gradient Investments LLC now owns 14,630 shares of the semiconductor company’s stock worth $11,459,000 after acquiring an additional 14,585 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Lam Research during the fourth quarter worth approximately $7,930,000. Treasurer of the State of North Carolina raised its stake in Lam Research by 0.9% in the 3rd quarter. Treasurer of the State of North Carolina now owns 63,809 shares of the semiconductor company’s stock valued at $39,994,000 after purchasing an additional 560 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in Lam Research by 13.6% in the 4th quarter. DNB Asset Management AS now owns 41,100 shares of the semiconductor company’s stock valued at $32,192,000 after purchasing an additional 4,910 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Trading Down 1.1 %

Shares of NASDAQ LRCX opened at $946.17 on Tuesday. Lam Research has a twelve month low of $482.74 and a twelve month high of $1,007.39. The firm has a market cap of $124.04 billion, a PE ratio of 36.59, a price-to-earnings-growth ratio of 3.47 and a beta of 1.51. The business has a fifty day simple moving average of $941.93 and a two-hundred day simple moving average of $794.36. The company has a quick ratio of 2.02, a current ratio of 3.06 and a debt-to-equity ratio of 0.61.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the prior year, the business earned $10.71 EPS. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. Analysts expect that Lam Research will post 28.9 earnings per share for the current fiscal 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 given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Tuesday, March 12th. Lam Research’s dividend payout ratio is currently 30.94%.

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.