Lam Research Co. (NASDAQ:LRCX) Receives $848.27 Consensus PT from Brokerages

Lam Research Co. (NASDAQ:LRCX) has been assigned an average recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $931.85.

Several brokerages have weighed in on LRCX. Needham & Company LLC upped their price target on Lam Research from $900.00 to $1,030.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Stifel Nicolaus upped their price target on Lam Research from $950.00 to $1,050.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Cantor Fitzgerald increased their price objective on Lam Research from $900.00 to $1,100.00 and gave the company a “neutral” rating in a report on Monday, April 8th. B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and increased their price objective for the company from $870.00 to $1,100.00 in a report on Friday. Finally, Barclays increased their price objective on Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th.

Lam Research Price Performance

LRCX stock opened at $868.07 on Tuesday. The company has a current ratio of 3.06, a quick ratio of 2.02 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $113.80 billion, a PE ratio of 33.57, a P/E/G ratio of 3.15 and a beta of 1.51. Lam Research has a 12-month low of $493.42 and a 12-month high of $1,007.39. The business’s fifty day moving average price is $944.64 and its 200 day moving average price is $804.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, topping the consensus estimate of $7.06 by $0.46. Lam Research had a return on equity of 44.47% and a net margin of 24.15%. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the business earned $10.71 EPS. Lam Research’s revenue was down 28.8% on a year-over-year basis. On average, sell-side analysts anticipate that Lam Research will post 28.92 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.92%. Lam Research’s dividend payout ratio is presently 30.94%.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lam Research news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christina Corrreia sold 647 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total value of $628,903.41. Following the completion of the sale, the chief accounting officer now directly owns 5,541 shares of the company’s stock, valued at $5,386,018.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,029 shares of company stock worth $6,559,489. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Lam Research

Several hedge funds have recently modified their holdings of LRCX. Orion Capital Management LLC acquired a new stake in shares of Lam Research in the 3rd quarter valued at approximately $25,000. BluePath Capital Management LLC acquired a new position in Lam Research during the third quarter worth $28,000. DSM Capital Partners LLC acquired a new position in Lam Research during the fourth quarter worth $28,000. OFI Invest Asset Management acquired a new position in Lam Research during the third quarter worth $30,000. Finally, Asset Dedication LLC raised its holdings in Lam Research by 56.7% during the third quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

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.