Lam Research Co. (NASDAQ:LRCX) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Lam Research Co. (NASDAQ:LRCX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty-four ratings firms that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $90.87.

Several research firms recently weighed in on LRCX. Morgan Stanley boosted their price target on shares of Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Wells Fargo & Company reduced their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Evercore ISI lifted their price target on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. TD Securities reduced their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, TD Cowen lowered their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $89.52 on Friday. The stock has a market cap of $114.51 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.47 and a beta of 1.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The firm's 50-day simple moving average is $77.13 and its 200 day simple moving average is $77.01.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter last year, the company earned $7.79 earnings per share. As a group, research analysts anticipate that Lam Research will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

Hedge Funds Weigh In On Lam Research

Large investors have recently modified their holdings of the company. Strs Ohio bought a new position in Lam Research in the 1st quarter valued at $41,846,000. Ellsworth Advisors LLC boosted its stake in Lam Research by 9.1% during the first quarter. Ellsworth Advisors LLC now owns 22,080 shares of the semiconductor company's stock valued at $1,605,000 after buying an additional 1,834 shares during the period. Carderock Capital Management Inc. boosted its stake in Lam Research by 2.1% during the first quarter. Carderock Capital Management Inc. now owns 108,903 shares of the semiconductor company's stock valued at $7,917,000 after buying an additional 2,247 shares during the period. Advisors Capital Management LLC grew its position in Lam Research by 164.1% during the first quarter. Advisors Capital Management LLC now owns 97,570 shares of the semiconductor company's stock worth $7,093,000 after buying an additional 60,622 shares in the last quarter. Finally, Mattson Financial Services LLC increased its stake in Lam Research by 1,098.8% in the 1st quarter. Mattson Financial Services LLC now owns 23,569 shares of the semiconductor company's stock worth $1,713,000 after acquiring an additional 21,603 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

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.

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