Lam Research Co. (NASDAQ:LRCX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Lam Research Co. (NASDAQ:LRCXGet Rating) have earned a consensus recommendation of “Hold” from the twenty-three ratings firms that are covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $610.30.

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Lam Research from $460.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. Piper Sandler reduced their price objective on shares of Lam Research from $596.00 to $567.00 and set a “neutral” rating for the company in a report on Thursday, May 26th. Cowen reduced their price objective on shares of Lam Research from $800.00 to $620.00 in a report on Thursday, July 28th. DA Davidson reduced their price objective on shares of Lam Research from $575.00 to $550.00 in a report on Thursday, July 28th. Finally, The Goldman Sachs Group increased their target price on shares of Lam Research from $448.00 to $504.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th.

Lam Research Stock Down 1.0 %

LRCX stock opened at $409.22 on Monday. Lam Research has a 12 month low of $375.87 and a 12 month high of $731.85. The firm has a market cap of $56.06 billion, a PE ratio of 12.50, a P/E/G ratio of 0.93 and a beta of 1.36. The firm has a 50 day simple moving average of $461.43 and a 200 day simple moving average of $475.26. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.69 and a quick ratio of 1.82.

Lam Research (NASDAQ:LRCXGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share for the quarter, beating the consensus estimate of $7.30 by $1.53. Lam Research had a net margin of 26.73% and a return on equity of 75.71%. The firm had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the business earned $8.09 EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts forecast that Lam Research will post 37.31 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th will be paid a dividend of $1.725 per share. This is a positive change from Lam Research’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $6.90 annualized dividend and a yield of 1.69%. Lam Research’s dividend payout ratio (DPR) is presently 21.07%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Synovus Financial Corp lifted its stake in Lam Research by 0.6% in the fourth quarter. Synovus Financial Corp now owns 2,948 shares of the semiconductor company’s stock valued at $2,116,000 after buying an additional 17 shares in the last quarter. Stonebridge Capital Advisors LLC lifted its position in shares of Lam Research by 100.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 19 shares in the last quarter. Marietta Investment Partners LLC lifted its position in shares of Lam Research by 0.7% in the fourth quarter. Marietta Investment Partners LLC now owns 3,003 shares of the semiconductor company’s stock worth $2,160,000 after purchasing an additional 20 shares in the last quarter. Vectors Research Management LLC lifted its position in shares of Lam Research by 133.3% in the fourth quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 20 shares in the last quarter. Finally, KRS Capital Management LLC lifted its position in shares of Lam Research by 1.4% in the second quarter. KRS Capital Management LLC now owns 1,497 shares of the semiconductor company’s stock worth $638,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 80.09% of the company’s stock.

Lam Research Company Profile

(Get Rating)

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.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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