Lam Research Corporation (NASDAQ:LRCX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Lam Research Corporation (NASDAQ:LRCX - Get Free Report) have earned an average rating of "Moderate Buy" from the twenty-four ratings firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $97.48.

A number of equities research analysts have recently weighed in on the company. Oppenheimer reaffirmed an "outperform" rating and set a $110.00 price target (up previously from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Morgan Stanley lifted their price target on Lam Research from $82.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. TD Cowen cut their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. UBS Group cut their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Bank of America cut their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LRCX. Vanguard Group Inc. grew its stake in Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after acquiring an additional 108,619,564 shares in the last quarter. FMR LLC grew its stake in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after acquiring an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after acquiring an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after acquiring an additional 28,307,499 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Lam Research during the 4th quarter valued at $1,661,672,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

NASDAQ LRCX traded up $1.25 during trading hours on Thursday, reaching $101.06. The company's stock had a trading volume of 6,568,595 shares, compared to its average volume of 12,343,742. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The business has a 50-day simple moving average of $87.37 and a 200 day simple moving average of $79.49. Lam Research has a 52 week low of $56.32 and a 52 week high of $113.00. The stock has a market cap of $129.27 billion, a PE ratio of 28.17, a PEG ratio of 1.41 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results 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 net margin of 27.18% and a return on equity of 53.21%. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter last year, the company posted $7.79 earnings per share. Lam Research's revenue was up 24.4% on a year-over-year basis. Equities research analysts predict that Lam Research will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.91%. Lam Research's payout ratio is currently 25.63%.

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.