Lam Research Co. (NASDAQ:LRCX) Receives $228.63 Consensus Target Price from Analysts

Lam Research Co. (NASDAQ:LRCX) has received a consensus recommendation of “Hold” from the twenty-two brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $228.63.

LRCX has been the subject of several recent research reports. Citigroup reiterated a “buy” rating and set a $215.00 target price (up previously from $177.00) on shares of Lam Research in a research report on Friday, March 15th. Mizuho reiterated a “buy” rating and set a $180.00 target price on shares of Lam Research in a research report on Tuesday, April 16th. Zacks Investment Research upgraded shares of Lam Research from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. UBS Group upped their target price on shares of Lam Research from $170.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, Deutsche Bank upped their target price on shares of Lam Research from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Monday, February 25th.

In related news, Director Abhijit Y. Talwalkar sold 3,988 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $203.00, for a total value of $809,564.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Richard A. Gottscho sold 7,248 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $209.26, for a total transaction of $1,516,716.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,379 shares of company stock valued at $3,554,335. 0.44% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. ETF Managers Group LLC increased its holdings in Lam Research by 9.0% during the 1st quarter. ETF Managers Group LLC now owns 713 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 59 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Lam Research by 6.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,081 shares of the semiconductor company’s stock worth $147,000 after buying an additional 63 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Lam Research by 10.7% during the 1st quarter. Synovus Financial Corp now owns 654 shares of the semiconductor company’s stock worth $117,000 after buying an additional 63 shares during the last quarter. Brinker Capital Inc. boosted its stake in shares of Lam Research by 3.0% during the 1st quarter. Brinker Capital Inc. now owns 2,377 shares of the semiconductor company’s stock worth $426,000 after buying an additional 69 shares during the last quarter. Finally, Dividend Assets Capital LLC boosted its stake in shares of Lam Research by 4.8% during the 4th quarter. Dividend Assets Capital LLC now owns 1,524 shares of the semiconductor company’s stock worth $208,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.

NASDAQ:LRCX traded down $5.30 during trading hours on Tuesday, hitting $175.97. 214,026 shares of the stock were exchanged, compared to its average volume of 1,815,470. The company’s 50 day moving average is $185.71. Lam Research has a twelve month low of $122.64 and a twelve month high of $209.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.37 and a quick ratio of 2.79. The firm has a market capitalization of $26.98 billion, a P/E ratio of 9.84, a P/E/G ratio of 1.06 and a beta of 1.63.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.32. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the business earned $4.79 EPS. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, research analysts anticipate that Lam Research will post 14.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Tuesday, June 11th. Lam Research’s dividend payout ratio is currently 24.62%.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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