Mizuho Forecasts Strong Price Appreciation for Lam Research (NASDAQ:LRCX) Stock

Key Points

• Mizuho has increased its price target for Lam Research (NASDAQ:LRCX) from $115.00 to $120.00, indicating a potential upside of 24.64% from the current stock price.
• The average rating for Lam Research among analysts is "Moderate Buy," with 18 analysts assigning a buy rating and an average price target of $106.27.
• Lam Research's quarterly earnings report showed a significant revenue increase of 33.6% year-over-year, with earnings per share of $1.33, surpassing analysts' expectations.

Lam Research (NASDAQ:LRCX - Free Report) had its target price raised by Mizuho from $115.00 to $120.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the semiconductor company's stock.

Several other research firms have also commented on LRCX. Citigroup reaffirmed a "buy" rating and issued a $108.00 price target (up from $87.00) on shares of Lam Research in a report on Monday, July 7th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the stock a "hold" rating in a research note on Thursday, April 24th. The Goldman Sachs Group assumed coverage on shares of Lam Research in a research note on Thursday, July 10th. They set a "buy" rating and a $115.00 target price on the stock. Oppenheimer increased their target price on shares of Lam Research from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Summit Insights lowered shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $107.09.

Lam Research Stock Performance

Shares of LRCX traded up $1.53 during trading hours on Friday, reaching $96.37. 16,599,413 shares of the company traded hands, compared to its average volume of 9,955,076. Lam Research has a 12-month low of $56.32 and a 12-month high of $102.59. The company has a quick ratio of 1.64, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $123.27 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.33 and a beta of 1.68. The business has a fifty day moving average price of $93.96 and a 200-day moving average price of $82.38.

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

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders 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 yield of 1.0%. Lam Research's dividend payout ratio is presently 22.12%.

Institutional Trading of Lam Research

A number of hedge funds have recently bought and sold shares of the business. BankPlus Wealth Management LLC raised its holdings in Lam Research by 2.0% in the 2nd quarter. BankPlus Wealth Management LLC now owns 5,248 shares of the semiconductor company's stock valued at $511,000 after acquiring an additional 105 shares during the last quarter. ORG Partners LLC raised its holdings in Lam Research by 7.3% in the 2nd quarter. ORG Partners LLC now owns 1,676 shares of the semiconductor company's stock valued at $162,000 after acquiring an additional 114 shares during the last quarter. Quotient Wealth Partners LLC raised its holdings in Lam Research by 2.1% in the 2nd quarter. Quotient Wealth Partners LLC now owns 5,437 shares of the semiconductor company's stock valued at $529,000 after acquiring an additional 114 shares during the last quarter. Fairvoy Private Wealth LLC raised its holdings in Lam Research by 3.0% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 4,185 shares of the semiconductor company's stock valued at $407,000 after acquiring an additional 120 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in Lam Research by 16.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 869 shares of the semiconductor company's stock valued at $85,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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.