Lam Research’s (LRCX) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Lam Research (NASDAQ:LRCX) in a report released on Tuesday morning,Benzinga reports. They currently have a $100.00 price target on the semiconductor company’s stock.

Several other research analysts have also recently commented on LRCX. The Goldman Sachs Group decreased their target price on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a report on Friday, January 17th. B. Riley decreased their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, January 30th. Finally, Barclays decreased their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Stock Performance

Shares of LRCX opened at $89.02 on Tuesday. The firm’s 50 day moving average is $78.27 and its 200-day moving average is $77.97. The stock has a market capitalization of $114.27 billion, a P/E ratio of 27.04, a P/E/G ratio of 1.43 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research has a 12-month low of $68.87 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Lam Research will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is 27.95%.

Hedge Funds Weigh In On Lam Research

A number of institutional investors have recently modified their holdings of the company. Cypress Capital Group raised its position in shares of Lam Research by 3.7% in the third quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after purchasing an additional 132 shares during the period. Savvy Advisors Inc. raised its position in shares of Lam Research by 58.3% in the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock valued at $297,000 after purchasing an additional 134 shares during the period. West Oak Capital LLC raised its position in shares of Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Baldwin Investment Management LLC raised its position in shares of Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after purchasing an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC raised its position in shares of Lam Research by 10.1% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock valued at $1,272,000 after purchasing an additional 143 shares during the period. Institutional investors own 84.61% of the company’s stock.

About Lam Research

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.