Wells Fargo & Company Issues Positive Forecast for Lam Research (NASDAQ:LRCX) Stock Price

Lam Research (NASDAQ:LRCX) had its price objective upped by Wells Fargo & Company from $82.00 to $85.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

A number of other research firms have also recently issued reports on LRCX. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $95.00 to $100.00 in a research report on Thursday. B. Riley dropped their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Performance

NASDAQ LRCX opened at $80.73 on Thursday. Lam Research has a 12-month low of $68.87 and a 12-month high of $113.00. The firm has a 50-day moving average price of $75.88 and a two-hundred day moving average price of $78.94. The company has a market capitalization of $103.87 billion, a P/E ratio of 24.52, a P/E/G ratio of 1.38 and a beta of 1.45. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 52.58%. Analysts anticipate that Lam Research will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.14%. Lam Research’s dividend payout ratio (DPR) is currently 27.95%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its position in Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares during the last quarter. Swedbank AB raised its holdings in shares of Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after purchasing an additional 2,875,843 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Lam Research by 827.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock valued at $228,285,000 after purchasing an additional 2,819,668 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Lam Research during the fourth quarter worth about $175,652,000. Finally, Rhumbline Advisers grew its position in Lam Research by 875.7% in the 4th quarter. Rhumbline Advisers now owns 2,538,109 shares of the semiconductor company’s stock worth $183,327,000 after purchasing an additional 2,277,989 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

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.