Lam Research (NASDAQ:LRCX) Stock Price Up 1.4% - Still a Buy?

Key Points

• Lam Research's stock price rose by 1.4% to $98.33, with trading volume significantly lower at 2.24 million shares, an 81% decrease from its average daily volume.
• Analysts have mixed views on the stock, with 17 buy ratings and a consensus rating of "Moderate Buy", and target prices ranging from $83.00 to $120.00.
• The company has a solid financial foundation, indicated by a debt-to-equity ratio of 0.39 and a dividend yield of 0.93%, reflecting healthy shareholder returns.

Lam Research Corporation (NASDAQ:LRCX - Get Free Report)'s stock price rose 1.4% on Monday . The company traded as high as $99.53 and last traded at $98.33. Approximately 2,241,088 shares changed hands during trading, a decline of 81% from the average daily volume of 11,869,274 shares. The stock had previously closed at $96.96.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group upped their target price on shares of Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Bank of America dropped their price objective on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. TD Cowen dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Barclays set a $83.00 target price on shares of Lam Research and gave the company an "equal weight" rating in a research note on Monday. Finally, Stifel Nicolaus decreased their target price on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $101.19.

Lam Research Stock Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The stock has a market cap of $126.15 billion, a price-to-earnings ratio of 27.49, a P/E/G ratio of 1.37 and a beta of 1.68. The company's fifty day simple moving average is $92.49 and its two-hundred day simple moving average is $81.68.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.93%. Lam Research's payout ratio is currently 25.63%.

Institutional Investors Weigh In On Lam Research

A number of institutional investors and hedge funds have recently bought and sold shares of LRCX. Vanguard Group Inc. grew its stake in shares of Lam Research by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company's stock valued at $9,389,358,000 after acquiring an additional 8,364,375 shares during the period. FMR LLC increased its stake in Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Ameriprise Financial Inc. grew its position in shares of Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after buying an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC boosted its position in Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Lam Research by 2.8% in the first quarter. Invesco Ltd. now owns 17,330,771 shares of the semiconductor company's stock worth $1,259,947,000 after acquiring an additional 472,636 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other 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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