Lam Research (NASDAQ:LRCX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Lam Research (NASDAQ:LRCX) from a hold rating to a buy rating in a report released on Saturday.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the stock a “hold” rating in a report on Thursday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $115.00 price objective (up previously from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Oppenheimer raised their price objective on shares of Lam Research from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Bank of America decreased their price objective on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Finally, Summit Insights lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Thursday, July 31st. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average target price of $107.09.

Lam Research Price Performance

LRCX opened at $98.41 on Friday. The company’s 50-day moving average price is $94.31 and its 200 day moving average price is $82.57. Lam Research has a fifty-two week low of $56.32 and a fifty-two week high of $102.59. The firm has a market cap of $125.88 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the business earned $1.03 earnings per share. Lam Research’s revenue was up 33.6% compared to the same quarter last year. As a group, sell-side analysts expect that Lam Research will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared 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 0.9%. The ex-dividend date was Wednesday, June 18th. Lam Research’s dividend payout ratio (DPR) is currently 22.12%.

Institutional Trading of Lam Research

Several institutional investors have recently made changes to their positions in LRCX. FMR LLC boosted its position in shares of Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after acquiring an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after buying an additional 31,255,726 shares in the last quarter. Invesco Ltd. boosted its position in Lam Research by 909.5% in the fourth quarter. Invesco Ltd. now owns 16,858,135 shares of the semiconductor company’s stock valued at $1,217,663,000 after buying an additional 15,188,173 shares in the last quarter. Northern Trust Corp boosted its position in Lam Research by 1,067.0% in the fourth quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company’s stock valued at $1,146,235,000 after buying an additional 14,509,407 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Lam Research by 6,383.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company’s stock valued at $980,500,000 after buying an additional 13,365,317 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.