Lam Research Co. (NASDAQ:LRCX) Receives $97.59 Average Price Target from Brokerages

Lam Research Co. (NASDAQ:LRCX - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-three brokerages that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $97.59.

A number of research analysts have recently commented on LRCX shares. Sanford C. Bernstein raised Lam Research from a "market perform" rating to an "outperform" rating and upped their target price for the company from $85.00 to $91.00 in a research note on Thursday, January 30th. Wolfe Research lowered Lam Research from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 15th. Wells Fargo & Company lifted their target price on Lam Research from $82.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target on the stock in a report on Friday, January 17th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th.

Lam Research Price Performance

Shares of Lam Research stock traded down $6.13 during trading hours on Tuesday, reaching $59.09. The company's stock had a trading volume of 26,238,929 shares, compared to its average volume of 11,840,267. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research has a one year low of $57.97 and a one year high of $113.00. The firm has a 50 day moving average price of $78.26 and a 200-day moving average price of $77.07. The stock has a market cap of $75.85 billion, a P/E ratio of 17.95, a P/E/G ratio of 1.47 and a beta of 1.53.

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Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 51.86% and a net margin of 26.49%. On average, analysts predict that Lam Research will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.56%. Lam Research's dividend payout ratio (DPR) is presently 27.96%.

Insiders Place Their Bets

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Webster Bank N. A. acquired a new position in shares of Lam Research in the 1st quarter valued at $1,795,000. Quent Capital LLC increased its holdings in shares of Lam Research by 6.6% in the first quarter. Quent Capital LLC now owns 6,049 shares of the semiconductor company's stock valued at $440,000 after purchasing an additional 373 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Lam Research in the first quarter worth about $233,000. Versant Capital Management Inc raised its stake in shares of Lam Research by 185.1% in the first quarter. Versant Capital Management Inc now owns 6,267 shares of the semiconductor company's stock worth $456,000 after purchasing an additional 4,069 shares during the last quarter. Finally, Insight Wealth Strategies LLC boosted its position in Lam Research by 2.0% in the first quarter. Insight Wealth Strategies LLC now owns 105,771 shares of the semiconductor company's stock valued at $7,690,000 after buying an additional 2,068 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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.