Lam Research Corporation (NASDAQ:LRCX) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Lam Research Corporation has received a **consensus rating of "Moderate Buy"** from 26 brokerages, with 19 analysts issuing buy ratings and 7 holding the stock.
• The **average target price for Lam Research** is reported at **$107.09**, with several firms adjusting their price targets recently, including KeyCorp increasing it to **$115.00**.
• In the last quarter, Lam Research reported **earnings per share of $1.33**, exceeding expectations and showcasing a **33.6% increase in revenue** compared to the previous year.

Lam Research Corporation (NASDAQ:LRCX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty-six brokerages that are currently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $107.0870.

Several equities research analysts have weighed in on LRCX shares. Wells Fargo & Company set a $98.00 price objective on Lam Research and gave the stock an "equal weight" rating in a report on Thursday, July 31st. TD Securities decreased their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. KeyCorp lifted their target price on shares of Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley upped their price target on Lam Research from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, TD Cowen lifted their price objective on Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 31st.

Institutional Trading of Lam Research

A number of hedge funds have recently bought and sold shares of LRCX. Smallwood Wealth Investment Management LLC acquired a new position in shares of Lam Research during the 1st quarter valued at $26,000. IMG Wealth Management Inc. bought a new position in Lam Research during the 2nd quarter worth $26,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $27,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Lam Research during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Price Performance

Shares of Lam Research stock traded down $1.73 during trading on Monday, hitting $96.68. 10,675,545 shares of the stock traded hands, compared to its average volume of 11,016,984. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. The stock has a market cap of $123.67 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.29 and a beta of 1.65. The firm's fifty day moving average is $94.31 and its 200-day moving average is $82.57. Lam Research has a 52 week low of $56.32 and a 52 week high of $102.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. Lam Research's quarterly revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 EPS. Research analysts expect that Lam Research will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is currently 22.12%.

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.