Lam Research Co. (NASDAQ:LRCX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Lam Research Co. (NASDAQ:LRCX - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty ratings firms that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $97.24.

Several brokerages have weighed in on LRCX. StockNews.com cut shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Friday, October 11th. B. Riley reduced their price target on Lam Research from $132.50 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Lam Research in a report on Thursday, October 24th. Cantor Fitzgerald reissued a "neutral" rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Finally, UBS Group dropped their price target on Lam Research from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, September 12th.

Insiders Place Their Bets

In other Lam Research news, CAO Christina Correia sold 647 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company's stock, valued at approximately $3,488,315.17. The trade was a 13.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On Lam Research

A number of large investors have recently modified their holdings of LRCX. Van ECK Associates Corp grew its stake in shares of Lam Research by 1,394.7% in 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 during the last quarter. Two Sigma Advisers LP increased its position in shares of Lam Research by 215.4% during the 3rd quarter. Two Sigma Advisers LP now owns 341,900 shares of the semiconductor company's stock valued at $279,018,000 after purchasing an additional 233,500 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its stake in shares of Lam Research by 994.1% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company's stock worth $190,066,000 after purchasing an additional 211,614 shares during the period. Bridgewater Associates LP increased its holdings in Lam Research by 315.0% during the third quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company's stock valued at $225,281,000 after buying an additional 209,537 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its position in shares of Lam Research by 838.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 159,913 shares of the semiconductor company's stock valued at $130,502,000 after acquiring an additional 142,878 shares during the period. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Up 0.8 %

LRCX stock traded up $0.58 during mid-day trading on Friday, reaching $71.79. The company had a trading volume of 29,395,789 shares, compared to its average volume of 11,379,101. Lam Research has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a market capitalization of $92.37 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.25 and a beta of 1.46. 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 stock has a 50 day simple moving average of $75.06 and a two-hundred day simple moving average of $84.72.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The business's revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.85 earnings per share. As a group, equities analysts predict that Lam Research will post 3.5 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.28%. Lam Research's dividend payout ratio is presently 29.77%.

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.