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

Lam Research Co. (NASDAQ:LRCXGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the twenty brokerages that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $957.95.

A number of analysts recently issued reports on the stock. Barclays raised their price objective on shares of Lam Research from $825.00 to $865.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. TD Cowen raised their price objective on shares of Lam Research from $975.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Susquehanna decreased their price objective on shares of Lam Research from $880.00 to $850.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of Lam Research from $900.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, UBS Group lifted their target price on shares of Lam Research from $1,130.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th.

Get Our Latest Stock Analysis on Lam Research

Lam Research Stock Down 1.4 %

Shares of NASDAQ LRCX opened at $922.73 on Wednesday. The company has a market capitalization of $120.64 billion, a P/E ratio of 33.94, a price-to-earnings-growth ratio of 3.22 and a beta of 1.46. Lam Research has a 52-week low of $574.42 and a 52-week high of $1,007.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82. The company’s 50 day moving average price is $935.25 and its 200-day moving average price is $867.48.

Shares of Lam Research are set to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly minted shares will be payable to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCXGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.99 earnings per share. Equities analysts forecast that Lam Research will post 29.67 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, June 18th. Lam Research’s dividend payout ratio is presently 29.42%.

Lam Research announced that its board has authorized a share buyback program on Tuesday, May 21st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Lam Research news, insider George M. Schisler sold 400 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $908.21, for a total transaction of $363,284.00. Following the transaction, the insider now owns 5,661 shares in the company, valued at approximately $5,141,376.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated 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 transaction, 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. Insiders have sold a total of 7,489 shares of company stock worth $6,978,065 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Lam Research

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock worth $11,519,576,000 after purchasing an additional 144,914 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Lam Research by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,973,516 shares of the semiconductor company’s stock worth $2,329,037,000 after purchasing an additional 86,721 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Lam Research by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after purchasing an additional 142,903 shares during the period. Morgan Stanley lifted its stake in shares of Lam Research by 3.2% in the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after purchasing an additional 56,824 shares during the period. Finally, Norges Bank bought a new position in shares of Lam Research in the 4th quarter worth approximately $1,414,111,000. Institutional investors own 84.61% of the company’s stock.

About Lam Research

(Get Free Report

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.

Read More

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.