Brokerages Set Lam Research Co. (NASDAQ:LRCX) Price Target at $92.70

Shares of Lam Research Co. (NASDAQ:LRCX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-five analysts that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $91.56.

LRCX has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the company a "hold" rating in a report on Thursday, April 24th. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and lifted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. TD Securities reduced their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company dropped their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, KeyCorp upgraded Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 price target on the stock in a report on Friday, January 17th.

Lam Research Price Performance

Shares of Lam Research stock traded up $0.99 during trading on Friday, reaching $72.66. 2,043,292 shares of the stock traded hands, compared to its average volume of 13,151,315. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market capitalization of $92.94 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research has a 52-week low of $56.32 and a 52-week high of $113.00. The business has a fifty day simple moving average of $72.18 and a two-hundred day simple moving average of $75.25.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the company posted $7.79 EPS. The company's revenue was up 24.4% compared to the same quarter last year. Sell-side analysts expect that Lam Research will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Wednesday, March 5th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Insider Buying and Selling

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares of the company's stock, valued at $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On Lam Research

Hedge funds have recently bought and sold shares of the company. West Oak Capital LLC boosted its stake in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 135 shares during the period. Citizens National Bank Trust Department boosted its position in Lam Research by 34.0% in the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock valued at $44,000 after buying an additional 153 shares during the period. SteelPeak Wealth LLC grew its stake in shares of Lam Research by 0.4% in the first quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock worth $3,068,000 after acquiring an additional 178 shares in the last quarter. Transcend Capital Advisors LLC increased its position in shares of Lam Research by 2.3% during the first quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock worth $586,000 after acquiring an additional 182 shares during the period. Finally, Capital Advisors Inc. OK raised its stake in shares of Lam Research by 0.6% in the first quarter. Capital Advisors Inc. OK now owns 29,927 shares of the semiconductor company's stock valued at $2,176,000 after acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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.