Lam Research Co. (NASDAQ:LRCX) Receives $98.22 Consensus PT from Analysts

Shares of Lam Research Co. (NASDAQ:LRCX) have received a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $98.22.

A number of analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group dropped their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price target on shares of Lam Research in a report on Tuesday, February 18th. Finally, Morgan Stanley raised their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of Lam Research stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now owns 179,084 shares in the company, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lam Research

Several institutional investors and hedge funds have recently modified their holdings of LRCX. Financial Perspectives Inc raised its position in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Fairway Wealth LLC grew its holdings in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 306 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Lam Research in the fourth quarter valued at $27,000. Midwest Capital Advisors LLC purchased a new position in shares of Lam Research in the fourth quarter valued at $27,000. Finally, West Paces Advisors Inc. purchased a new position in shares of Lam Research in the fourth quarter valued at $27,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $73.36 on Friday. Lam Research has a one year low of $68.87 and a one year high of $113.00. The company’s 50-day moving average is $79.35 and its 200 day moving average is $77.52. The company has a market capitalization of $94.17 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Sell-side analysts expect that Lam Research will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Wednesday, March 5th. Lam Research’s payout ratio is 27.96%.

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.