Morgan Stanley Issues Positive Forecast for Lam Research (NASDAQ:LRCX) Stock Price

Lam Research (NASDAQ:LRCX - Free Report) had its price target lifted by Morgan Stanley from $82.00 to $87.00 in a research note published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor company's stock.

LRCX has been the topic of several other research reports. Stifel Nicolaus cut their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC cut their target price on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Cantor Fitzgerald reissued an "overweight" rating and issued a $115.00 price target (up previously from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, TD Securities reduced their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.20.

Lam Research Stock Down 0.5%

Shares of Lam Research stock traded down $0.53 during trading on Tuesday, reaching $96.81. 9,756,860 shares of the company traded hands, compared to its average volume of 12,321,823. The firm has a market capitalization of $123.83 billion, a PE ratio of 26.98, a P/E/G ratio of 1.37 and a beta of 1.68. Lam Research has a 1-year low of $56.32 and a 1-year high of $113.00. The company has a 50 day moving average price of $83.96 and a 200-day moving average price of $78.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.79 earnings per share. As a group, equities research analysts expect that Lam Research will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

Hedge Funds Weigh In On Lam Research

A number of hedge funds and other institutional investors have recently made changes to their positions in LRCX. One Charles Private Wealth Services LLC increased its stake in shares of Lam Research by 843.4% during the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock worth $289,000 after purchasing an additional 3,576 shares during the last quarter. Brighton Jones LLC grew its holdings in Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after purchasing an additional 12,936 shares during the period. Oppenheimer & Co. Inc. increased its position in Lam Research by 1,058.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 21,321 shares of the semiconductor company's stock worth $1,540,000 after buying an additional 19,481 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Lam Research by 1,261.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,525 shares of the semiconductor company's stock worth $255,000 after buying an additional 3,266 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Lam Research in the fourth quarter valued at $58,000. 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.