Lam Research (NASDAQ:LRCX) Stock Price Up 2.7% - Time to Buy?

Key Points

• Lam Research's stock price increased by 2.7%, trading at $98.57 after a previous close of $95.94, despite a 76% decline in trading volume compared to its average session.
• Analysts have mixed views, with TD Securities lowering their price target from $110 to $100 while maintaining a "buy" rating, and KeyCorp raising their target from $105 to $115, reflecting an overall consensus of a "Moderate Buy".
• The company reported earnings of $1.33 per share for the last quarter, exceeding estimates, and revenue growth of 33.6% compared to the previous year, highlighting its robust financial performance in the semiconductor industry.

Shares of Lam Research Corporation (NASDAQ:LRCX - Get Free Report) traded up 2.7% on Thursday . The stock traded as high as $100.19 and last traded at $98.57. 2,809,931 shares changed hands during trading, a decline of 76% from the average session volume of 11,953,756 shares. The stock had previously closed at $95.94.

Analyst Ratings Changes

Several research firms recently weighed in on LRCX. TD Securities cut their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Bank of America reduced their price objective on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. KeyCorp increased their price target on Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Raymond James Financial boosted their price target on shares of Lam Research from $90.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Summit Insights lowered Lam Research from a "buy" rating to a "hold" rating in a report on Thursday, July 31st. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $107.09.

Lam Research Trading Up 3.3%

The stock's 50 day simple moving average is $94.80 and its 200 day simple moving average is $82.76. The firm has a market cap of $126.82 billion, a PE ratio of 23.83, a PEG ratio of 1.27 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. The company had revenue of $5.17 billion for 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 revenue for the quarter was up 33.6% compared to the same quarter last year. During the same period last year, the firm posted $1.03 EPS. On average, sell-side analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given 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 0.9%. Lam Research's payout ratio is presently 22.12%.

Institutional Trading of Lam Research

Several large investors have recently modified their holdings of LRCX. Brighton Jones LLC boosted its holdings in Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after acquiring an additional 12,936 shares in the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Lam Research by 371.7% during the fourth quarter. Peapack Gladstone Financial Corp now owns 8,594 shares of the semiconductor company's stock valued at $621,000 after purchasing an additional 6,772 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Lam Research during the fourth quarter valued at $108,000. Cerity Partners LLC increased its stake in shares of Lam Research by 781.9% in the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after acquiring an additional 293,619 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Lam Research by 425.1% during the fourth quarter. Bank of Montreal Can now owns 1,333,535 shares of the semiconductor company's stock worth $96,321,000 after acquiring an additional 1,079,570 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

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.

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