Lam Research’s (LRCX) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Lam Research (NASDAQ:LRCX) in a research report released on Thursday, Benzinga reports. Cantor Fitzgerald currently has a $1,100.00 price objective on the semiconductor company’s stock. Cantor Fitzgerald also issued estimates for Lam Research’s FY2024 earnings at $29.66 EPS.

LRCX has been the subject of several other reports. UBS Group increased their price target on Lam Research from $885.00 to $1,130.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Susquehanna dropped their price target on Lam Research from $880.00 to $850.00 and set a neutral rating for the company in a report on Thursday. B. Riley raised Lam Research from a neutral rating to a buy rating and lifted their price target for the stock from $870.00 to $1,100.00 in a report on Friday, April 19th. TD Cowen raised their price objective on Lam Research from $975.00 to $1,000.00 and gave the stock a buy rating in a research note on Thursday. Finally, Mizuho raised their price objective on Lam Research from $935.00 to $960.00 and gave the stock a buy rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $950.85.

Lam Research Stock Up 2.7 %

NASDAQ:LRCX opened at $925.37 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.02 and a current ratio of 2.82. The company has a market cap of $121.32 billion, a PE ratio of 34.03, a PEG ratio of 3.29 and a beta of 1.51. Lam Research has a 52-week low of $493.42 and a 52-week high of $1,007.39. The stock has a 50-day simple moving average of $943.67 and a 200 day simple moving average of $810.33.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the firm posted $6.99 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect that Lam Research will post 29.54 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given 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 0.86%. Lam Research’s dividend payout ratio is currently 29.42%.

Insider Buying and Selling

In related news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $922.41, for a total value of $5,073,255.00. Following the completion of the sale, the senior vice president now owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Insiders have sold 7,029 shares of company stock worth $6,559,489 in the last 90 days. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

A number of institutional investors have recently made changes to their positions in the stock. Artemis Wealth Advisors LLC bought a new stake in shares of Lam Research in the 1st quarter valued at about $4,858,000. LifeSteps Financial Inc. bought a new stake in shares of Lam Research in the 1st quarter valued at about $203,000. Mesirow Financial Investment Management Inc. bought a new stake in shares of Lam Research during the 1st quarter valued at about $206,000. MONECO Advisors LLC bought a new stake in shares of Lam Research during the 1st quarter valued at about $220,000. Finally, Terra Nova Asset Management LLC boosted its position in shares of Lam Research by 2.9% during the 1st quarter. Terra Nova Asset Management LLC now owns 4,538 shares of the semiconductor company’s stock valued at $4,409,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

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.