Lam Research Co. (NASDAQ:LRCX) Receives $97.59 Consensus PT from Analysts

Lam Research Co. (NASDAQ:LRCX) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $97.59.

A number of brokerages have recently commented on LRCX. Barclays lowered their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, January 17th. Oppenheimer initiated coverage on shares of Lam Research in a report on Thursday, March 20th. They set an “outperform” rating and a $95.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Finally, Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the company from $75.00 to $125.00 in a research report on Thursday, February 20th.

Insider Buying and Selling

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LRCX. Vanguard Group Inc. lifted its position in Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after buying an additional 108,619,564 shares in the last quarter. FMR LLC raised its holdings 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 worth $2,891,453,000 after acquiring an additional 36,496,689 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after acquiring an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Finally, Norges Bank acquired a new stake in Lam Research during the fourth quarter worth about $1,661,672,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $59.09 on Tuesday. The stock has a market cap of $75.85 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.47 and a beta of 1.53. Lam Research has a 12 month low of $57.97 and a 12 month high of $113.00. The company has a 50 day simple moving average of $78.26 and a two-hundred day simple moving average of $77.07. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, analysts predict that Lam Research will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.96%.

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.