Lam Research (NASDAQ:LRCX) Sets New 12-Month High on Analyst Upgrade

Lam Research Corporation (NASDAQ:LRCX) shares reached a new 52-week high on Monday after UBS Group raised their price target on the stock from $95.00 to $120.00. UBS Group currently has a buy rating on the stock. Lam Research traded as high as $102.40 and last traded at $102.01, with a volume of 546832 shares. The stock had previously closed at $100.66.

Other research analysts have also issued reports about the stock. TD Securities dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. KeyCorp raised their price target on shares of Lam Research from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Citigroup restated a “buy” rating and set a $108.00 price objective (up previously from $87.00) on shares of Lam Research in a report on Monday, July 7th. Stifel Nicolaus decreased their price objective on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, TD Cowen decreased their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $100.57.

Institutional Investors Weigh In On Lam Research

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new stake in Lam Research in the first quarter worth $26,000. West Paces Advisors Inc. purchased a new stake in shares of Lam Research during the fourth quarter valued at $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research in the fourth quarter worth about $27,000. Park Square Financial Group LLC bought a new position in Lam Research in the fourth quarter worth about $31,000. Finally, Putney Financial Group LLC acquired a new position in shares of Lam Research during the fourth quarter valued at about $36,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 1.1%

The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average of $91.10 and a 200 day moving average of $80.94. The stock has a market cap of $130.14 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 1.42 and a beta of 1.68.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the business posted $7.79 earnings per share. As a group, sell-side analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research’s dividend payout ratio is currently 25.63%.

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.