Lam Research (NASDAQ:LRCX) Stock Rating Upgraded by KeyCorp

KeyCorp upgraded shares of Lam Research (NASDAQ:LRCX) from a sector weight rating to an overweight rating in a research report released on Friday morning, MarketBeat reports. KeyCorp currently has $95.00 price target on the semiconductor company’s stock.

A number of other analysts have also commented on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Mizuho decreased their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. The Goldman Sachs Group cut their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company decreased their target price on Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Stock Up 1.4 %

LRCX stock opened at $80.30 on Friday. The firm has a market cap of $103.32 billion, a PE ratio of 25.95, a P/E/G ratio of 1.37 and a beta of 1.45. Lam Research has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a 50 day simple moving average of $74.68 and a 200 day simple moving average of $80.99.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company’s revenue was up 19.7% compared to the same quarter last year. During the same period last year, the company posted $6.85 EPS. Equities research analysts forecast that Lam Research will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. Lam Research’s dividend payout ratio is currently 29.74%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LRCX. Van ECK Associates Corp raised its position in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the period. Assenagon Asset Management S.A. bought a new position in Lam Research in the 4th quarter worth $175,652,000. Janney Montgomery Scott LLC acquired a new position in Lam Research during the 4th quarter worth $35,253,000. Guinness Asset Management LTD boosted its holdings in Lam Research by 1,129.8% during the fourth quarter. Guinness Asset Management LTD now owns 482,156 shares of the semiconductor company’s stock valued at $34,825,000 after acquiring an additional 442,949 shares during the period. Finally, ARS Investment Partners LLC grew its position in shares of Lam Research by 908.9% in the fourth quarter. ARS Investment Partners LLC now owns 490,881 shares of the semiconductor company’s stock valued at $35,456,000 after purchasing an additional 442,224 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.