Shares of Lam Research Co. (NASDAQ:LRCX) have earned a consensus rating of “Buy” from the twenty-six analysts that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $212.89.
A number of brokerages have weighed in on LRCX. Zacks Investment Research cut shares of Lam Research from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub cut shares of Lam Research from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Nomura upgraded shares of Lam Research from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $103.01 to $215.00 in a report on Thursday, December 7th. J P Morgan Chase & Co restated a “buy” rating and issued a $230.00 price objective on shares of Lam Research in a report on Wednesday, October 18th. Finally, DA Davidson reiterated a “buy” rating on shares of Lam Research in a report on Wednesday, October 18th.
In related news, COO Timothy Archer sold 15,638 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $175.65, for a total transaction of $2,746,814.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Patrick J. Lord sold 264 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,247 shares of company stock worth $12,162,864. 0.41% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Vantage Financial Partners Ltd. Inc. bought a new position in Lam Research in the second quarter worth approximately $254,000. Krilogy Financial LLC raised its position in Lam Research by 91.6% in the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 263 shares during the period. Bollard Group LLC bought a new position in Lam Research in the third quarter worth approximately $130,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Lam Research in the third quarter worth approximately $134,000. Finally, Odey Holdings AG raised its position in Lam Research by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 73 shares during the period. Institutional investors own 93.80% of the company’s stock.
Shares of Lam Research (NASDAQ:LRCX) traded up $4.38 on Friday, reaching $186.48. 3,977,688 shares of the company’s stock were exchanged, compared to its average volume of 2,195,344. The stock has a market capitalization of $30,170.00, a PE ratio of 15.62, a PEG ratio of 0.83 and a beta of 1.57. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24. Lam Research has a twelve month low of $104.28 and a twelve month high of $219.70.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.19. The business 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 business’s revenue was up 51.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.81 earnings per share. sell-side analysts forecast that Lam Research will post 14.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be given a dividend of $0.50 per share. This is an increase 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 yield of 1.07%. Lam Research’s dividend payout ratio is 18.26%.
Lam Research declared that its Board of Directors has authorized a share buyback 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 buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
Lam Research Company Profile
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.
Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.