Lam Research (NASDAQ:LRCX) Rating Increased to Overweight at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Lam Research (NASDAQ:LRCX - Free Report) from a neutral rating to an overweight rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. They currently have $100.00 price target on the semiconductor company's stock, up from their prior price target of $95.00.

Several other equities research analysts also recently issued reports on the company. Wolfe Research downgraded Lam Research from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 15th. Mizuho lowered their target price on Lam Research from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. BNP Paribas upgraded Lam Research to a "hold" rating in a report on Thursday, October 24th. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Finally, Sanford C. Bernstein reduced their price target on shares of Lam Research from $95.00 to $85.00 and set a "market perform" rating for the company in a report on Friday, November 29th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and an average target price of $95.72.

Lam Research Stock Up 7.5 %

NASDAQ:LRCX traded up $5.60 during trading hours on Thursday, reaching $80.75. The company's stock had a trading volume of 20,383,351 shares, compared to its average volume of 12,378,549. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The company has a market cap of $103.90 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. The business's 50-day moving average is $75.72 and its 200-day moving average is $78.93. Lam Research has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly 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 return on equity of 50.60% and a net margin of 26.02%. Equities research analysts predict that Lam Research will post 3.51 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.14%. Lam Research's dividend payout ratio (DPR) is presently 29.74%.

Hedge Funds Weigh In On Lam Research

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in Lam Research by 1,394.7% during the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company's stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares in the last quarter. Swedbank AB grew its position in shares of Lam Research by 1,488.8% in the 4th 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 period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Lam Research by 827.2% in 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 buying an additional 2,819,668 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $175,652,000. Finally, Rhumbline Advisers raised its holdings in shares of Lam Research by 875.7% during the fourth quarter. Rhumbline Advisers now owns 2,538,109 shares of the semiconductor company's stock worth $183,327,000 after acquiring an additional 2,277,989 shares during the period. 84.61% of the stock is owned by institutional investors.

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.