Credit Suisse Group Reiterates “Positive” Rating for Lam Research (NASDAQ:LRCX)

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Credit Suisse Group reaffirmed their positive rating on shares of Lam Research (NASDAQ:LRCX) in a research note published on Monday, LiveTradingNews reports. The analysts noted that the move was a valuation call.

A number of other equities analysts have also weighed in on the company. ValuEngine lowered Intersect ENT from a buy rating to a hold rating in a research note on Monday. Royal Bank of Canada set a €18.50 ($21.51) price target on ENI and gave the company a neutral rating in a research note on Tuesday, April 23rd. B. Riley set a $33.00 price target on Triumph Bancorp and gave the company a buy rating in a research note on Monday, April 22nd. Zacks Investment Research lowered Heritage Insurance from a hold rating to a strong sell rating in a research note on Friday, April 26th. Finally, UBS Group reaffirmed a buy rating and issued a $124.00 price target on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. Lam Research presently has an average rating of Hold and a consensus target price of $223.39.

NASDAQ LRCX opened at $184.89 on Monday. The stock’s fifty day moving average is $182.31. The firm has a market capitalization of $27.62 billion, a price-to-earnings ratio of 10.35, a P/E/G ratio of 1.06 and a beta of 1.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.37 and a quick ratio of 2.79. Lam Research has a fifty-two week low of $122.64 and a fifty-two week high of $209.50.

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

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Wednesday, June 12th were issued a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.38%. Lam Research’s dividend payout ratio is presently 24.62%.

In related news, Director Abhijit Y. Talwalkar sold 3,988 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $203.00, for a total value of $809,564.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Richard A. Gottscho sold 7,248 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $209.26, for a total value of $1,516,716.48. The disclosure for this sale can be found here. Insiders sold a total of 13,391 shares of company stock worth $2,776,675 in the last quarter. Company insiders own 0.44% of the company’s stock.

Several hedge funds have recently bought and sold shares of LRCX. Cypress Capital LLC increased its holdings in Lam Research by 1.4% during the 2nd quarter. Cypress Capital LLC now owns 4,126 shares of the semiconductor company’s stock worth $775,000 after purchasing an additional 56 shares during the period. 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 during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in 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 purchasing an additional 63 shares during the period. Synovus Financial Corp increased its holdings in 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 purchasing an additional 63 shares during the period. Finally, Brinker Capital Inc. increased its holdings in 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 purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 86.50% 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 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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