Lam Research Co. (LRCX) Given Consensus Rating of “Buy” by Analysts
Shares of Lam Research Co. (NASDAQ:LRCX) have received an average recommendation of “Buy” from the twenty-six brokerages that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and twenty-two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $212.89.
A number of equities analysts recently commented on LRCX shares. Argus started coverage on shares of Lam Research in a research report on Tuesday, September 12th. They issued a “buy” rating and a $196.00 target price on the stock. KeyCorp reissued a “buy” rating and issued a $225.00 price target (up previously from $202.00) on shares of Lam Research in a report on Wednesday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target (up previously from $200.00) on shares of Lam Research in a report on Friday, October 13th. DA Davidson reissued a “buy” rating and issued a $215.00 price target on shares of Lam Research in a report on Thursday, October 12th. Finally, Stifel Nicolaus raised their price target on shares of Lam Research from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th.
In other news, Director Stephen G. Newberry sold 750 shares of Lam Research stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $190.00, for a total transaction of $142,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Martin B. Anstice sold 21,955 shares of Lam Research stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $211.16, for a total transaction of $4,636,017.80. The disclosure for this sale can be found here. Insiders have sold a total of 32,769 shares of company stock worth $6,904,451 in the last ninety days. Insiders own 0.41% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Fiduciary Trust Co. lifted its position in Lam Research by 1.0% during the 2nd quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock valued at $289,000 after acquiring an additional 20 shares during the period. Hanseatic Management Services Inc. lifted its position in Lam Research by 1.0% during the 2nd quarter. Hanseatic Management Services Inc. now owns 2,242 shares of the semiconductor company’s stock valued at $317,000 after acquiring an additional 22 shares during the period. ETRADE Capital Management LLC lifted its position in Lam Research by 0.5% during the 2nd quarter. ETRADE Capital Management LLC now owns 5,833 shares of the semiconductor company’s stock valued at $825,000 after acquiring an additional 28 shares during the period. KCM Investment Advisors LLC lifted its position in Lam Research by 2.5% during the 2nd quarter. KCM Investment Advisors LLC now owns 2,248 shares of the semiconductor company’s stock valued at $318,000 after acquiring an additional 54 shares during the period. Finally, Kalos Management Inc. lifted its position in Lam Research by 1.0% during the 2nd quarter. Kalos Management Inc. now owns 6,284 shares of the semiconductor company’s stock valued at $888,000 after acquiring an additional 64 shares during the period. 93.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lam Research (NASDAQ LRCX) traded down $0.31 during trading hours on Tuesday, reaching $197.57. 2,954,987 shares of the company were exchanged, compared to its average volume of 3,060,000. The stock has a market cap of $32,000.00, a PE ratio of 18.04, a PEG ratio of 0.90 and a beta of 1.57. Lam Research has a one year low of $106.80 and a one year high of $219.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31.
Lam Research (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The firm’s revenue was up 51.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 EPS. equities research analysts predict that Lam Research will post 14.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th will be paid a dividend of $0.50 per share. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.01%. Lam Research’s payout ratio is presently 18.26%.
Lam Research announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
About Lam Research
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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