Lam Research (LRCX) Receives $249.69 Average PT from Analysts

Lam Research (NASDAQ:LRCX) has been assigned an average recommendation of “Buy” from the twenty-eight brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $249.69.

LRCX has been the subject of a number of research analyst reports. Zacks Investment Research lowered Lam Research from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. JPMorgan Chase increased their target price on Lam Research from $230.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Stifel Nicolaus increased their target price on Lam Research from $235.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, January 25th. UBS upgraded Lam Research from a “neutral” rating to a “positive” rating in a report on Tuesday, January 16th. Finally, Deutsche Bank restated a “buy” rating and issued a $240.00 target price on shares of Lam Research in a report on Thursday, January 25th.

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In other Lam Research news, COO Timothy Archer sold 16,574 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $221.41, for a total transaction of $3,669,649.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Martin B. Anstice sold 11,200 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $225.00, for a total value of $2,520,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,393 shares of company stock worth $20,272,556. Corporate insiders own 0.41% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of LRCX. Neuberger Berman Group LLC raised its holdings in Lam Research by 5.4% during the third quarter. Neuberger Berman Group LLC now owns 191,649 shares of the semiconductor company’s stock valued at $35,463,000 after buying an additional 9,785 shares in the last quarter. Atlantic Trust Group LLC bought a new position in Lam Research during the third quarter valued at about $1,322,000. Neville Rodie & Shaw Inc. raised its holdings in Lam Research by 3.7% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 47,881 shares of the semiconductor company’s stock valued at $8,814,000 after buying an additional 1,721 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new position in Lam Research during the fourth quarter valued at about $589,000. Finally, Leavell Investment Management Inc. raised its holdings in Lam Research by 3.9% during the fourth quarter. Leavell Investment Management Inc. now owns 9,350 shares of the semiconductor company’s stock valued at $1,721,000 after buying an additional 350 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.

LRCX opened at $191.91 on Thursday. The firm has a market cap of $31,272.12, a PE ratio of 12.22, a P/E/G ratio of 0.62 and a beta of 1.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.64 and a quick ratio of 2.09. Lam Research has a fifty-two week low of $137.55 and a fifty-two week high of $234.88.

Lam Research (NASDAQ:LRCX) last released its earnings results on Tuesday, April 17th. The semiconductor company reported $4.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.38 by $0.41. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.85 billion. Lam Research had a return on equity of 41.25% and a net margin of 18.32%. The company’s revenue for the quarter was up 34.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.10 earnings per share. equities research analysts forecast that Lam Research will post 17.54 earnings per share for the current fiscal year.

Lam Research announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 6th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $2.00 annualized dividend and a dividend yield of 1.04%. Lam Research’s dividend payout ratio is 20.04%.

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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 thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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