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

Lam Research Co. (NASDAQ:LRCX – Get Rating) has received a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $517.35.

LRCX has been the subject of several research reports. Jefferies Financial Group raised their target price on Lam Research from $565.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, April 20th. KGI Securities upgraded Lam Research from a “neutral” rating to an “outperform” rating in a research note on Wednesday, March 1st. StockNews.com assumed coverage on shares of Lam Research in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Mizuho dropped their price target on shares of Lam Research from $525.00 to $520.00 and set a “buy” rating on the stock in a research report on Thursday, April 20th. Finally, Stifel Nicolaus raised their price target on shares of Lam Research from $495.00 to $505.00 and gave the company a “hold” rating in a research report on Thursday, April 20th.

Lam Research Stock Performance

Shares of Lam Research stock opened at $628.25 on Friday. The company has a current ratio of 3.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $525.21 and a two-hundred day moving average price of $489.47. Lam Research has a 1-year low of $299.59 and a 1-year high of $633.01. The company has a market cap of $84.40 billion, a P/E ratio of 17.50, a PEG ratio of 6.65 and a beta of 1.50.

Lam Research (NASDAQ:LRCX – Get Rating) last issued its earnings results on Wednesday, April 19th. The semiconductor company reported $6.99 EPS for the quarter, beating the consensus estimate of $6.53 by $0.46. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.85 billion. Lam Research had a return on equity of 66.54% and a net margin of 26.08%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the business posted $7.40 EPS. As a group, analysts anticipate that Lam Research will post 33.22 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be given a dividend of $1.725 per share. The ex-dividend date is Tuesday, June 13th. This represents a $6.90 annualized dividend and a dividend yield of 1.10%. Lam Research’s dividend payout ratio is currently 19.21%.

Insiders Place Their Bets

In related news, Director Abhijit Y. Talwalkar sold 881 shares of Lam Research stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $524.09, for a total value of $461,723.29. Following the sale, the director now owns 13,881 shares of the company’s stock, valued at approximately $7,274,893.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Hedge funds have recently modified their holdings of the stock. Baird Financial Group Inc. grew its stake in Lam Research by 11.5% in the 1st quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock valued at $21,243,000 after buying an additional 4,090 shares in the last quarter. Zions Bancorporation N.A. grew its position in shares of Lam Research by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock valued at $151,000 after purchasing an additional 79 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Lam Research by 18.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 114 shares in the last quarter. Covestor Ltd grew its position in shares of Lam Research by 51.9% during the 1st quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock valued at $173,000 after purchasing an additional 110 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Lam Research by 11.8% during the 1st quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock valued at $125,414,000 after purchasing an additional 24,636 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

About Lam Research

(Get Rating)

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.