Oppenheimer Reaffirms "Outperform" Rating for Lam Research (NASDAQ:LRCX)

Oppenheimer reaffirmed their outperform rating on shares of Lam Research (NASDAQ:LRCX - Free Report) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. Oppenheimer currently has a $110.00 price target on the semiconductor company's stock, up from their prior price target of $80.00.

Several other brokerages have also commented on LRCX. Mizuho boosted their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Morgan Stanley boosted their price target on shares of Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Needham & Company LLC decreased their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. TD Cowen dropped 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. Finally, Stifel Nicolaus reduced their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and an average price target of $92.78.

Lam Research Stock Performance

NASDAQ:LRCX traded down $1.75 during trading hours on Tuesday, reaching $90.49. The stock had a trading volume of 22,922,800 shares, compared to its average volume of 12,324,735. Lam Research has a 12-month low of $56.32 and a 12-month high of $113.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The stock has a market cap of $115.75 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 1.30 and a beta of 1.65. The stock has a 50 day simple moving average of $79.16 and a 200 day simple moving average of $77.49.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.79 earnings per share. On average, research analysts forecast that Lam Research will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.02%. Lam Research's dividend payout ratio (DPR) is 25.63%.

Hedge Funds Weigh In On Lam Research

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position 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 buying an additional 8,364,375 shares in the last quarter. FMR LLC raised its stake in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after acquiring an additional 36,496,689 shares during the period. Ameriprise Financial Inc. lifted its holdings in Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new stake in shares of Lam Research in the fourth quarter worth $1,661,672,000. 84.61% of the stock is currently 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.