Lam Research Co. (NASDAQ:LRCX) Receives $1,006.10 Average PT from Brokerages

Lam Research Co. (NASDAQ:LRCX) has received a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $1,013.37.

A number of equities analysts have weighed in on the stock. TD Cowen increased their target price on shares of Lam Research from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company lowered their target price on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. B. Riley increased their price objective on Lam Research from $1,130.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. UBS Group cut their price objective on Lam Research from $1,250.00 to $1,150.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Finally, StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th.

Lam Research Trading Up 4.4 %

Shares of LRCX stock opened at $789.07 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The company has a market capitalization of $103.16 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 1.48 and a beta of 1.48. Lam Research has a 52-week low of $574.42 and a 52-week high of $1,130.00. The company has a 50-day simple moving average of $842.35 and a two-hundred day simple moving average of $927.21.

Lam Research shares are going to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 earnings per share for the quarter, beating analysts’ consensus estimates of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the company earned $5.98 earnings per share. The company’s quarterly revenue was up 20.7% on a year-over-year basis. Research analysts anticipate that Lam Research will post 35.2 EPS for the current fiscal year.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is 33.84%.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,062.26, for a total value of $687,282.22. Following the sale, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Neil J. Fernandes sold 4,409 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.84. Following the completion of the transaction, the senior vice president now owns 6,857 shares in the company, valued at $7,239,346.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1,062.26, for a total transaction of $687,282.22. Following the completion of the sale, the chief accounting officer now owns 4,914 shares in the company, valued at approximately $5,219,945.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,326 shares of company stock valued at $17,383,715. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Institutional investors and hedge funds have recently modified their holdings of the stock. Cypress Capital Group raised its stake in Lam Research by 23.1% in the second quarter. Cypress Capital Group now owns 3,528 shares of the semiconductor company’s stock worth $3,757,000 after buying an additional 661 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of Lam Research by 29.4% during the 2nd quarter. Meeder Advisory Services Inc. now owns 3,022 shares of the semiconductor company’s stock worth $3,218,000 after acquiring an additional 686 shares during the period. Brookstone Capital Management raised its position in shares of Lam Research by 142.6% in the 2nd quarter. Brookstone Capital Management now owns 1,601 shares of the semiconductor company’s stock worth $1,705,000 after acquiring an additional 941 shares in the last quarter. FineMark National Bank & Trust lifted its stake in shares of Lam Research by 14.5% in the 2nd quarter. FineMark National Bank & Trust now owns 474 shares of the semiconductor company’s stock valued at $505,000 after purchasing an additional 60 shares during the period. Finally, Foundations Investment Advisors LLC grew its stake in Lam Research by 534.3% in the second quarter. Foundations Investment Advisors LLC now owns 5,569 shares of the semiconductor company’s stock worth $5,930,000 after purchasing an additional 4,691 shares during the period. 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.