Vetr downgraded shares of Lam Research (NASDAQ:LRCX) from a strong-buy rating to a buy rating in a research note published on Wednesday, January 17th. Vetr currently has $218.49 price target on the semiconductor company’s stock.
A number of other equities research analysts also recently weighed in on LRCX. Zacks Investment Research downgraded Lam Research from a strong-buy rating to a hold rating in a research report on Tuesday, September 26th. BidaskClub upgraded Lam Research from a buy rating to a strong-buy rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. restated a buy rating and set a $230.00 price target on shares of Lam Research in a research report on Wednesday, October 18th. DA Davidson restated a buy rating on shares of Lam Research in a research report on Wednesday, October 18th. Finally, KeyCorp reaffirmed a buy rating and set a $225.00 price objective (up from $202.00) on shares of Lam Research in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Lam Research has a consensus rating of Buy and an average target price of $232.41.
Shares of Lam Research (NASDAQ LRCX) traded up $3.64 during mid-day trading on Wednesday, hitting $165.87. The company had a trading volume of 5,642,030 shares, compared to its average volume of 3,820,000. Lam Research has a one year low of $113.20 and a one year high of $219.70. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $26,860.00, a P/E ratio of 18.27, a PEG ratio of 0.67 and a beta of 1.47.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.68 by $0.66. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the business posted $2.24 earnings per share. The company’s revenue for the quarter was up 37.1% on a year-over-year basis. sell-side analysts predict that Lam Research will post 16.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $2.00 annualized dividend and a dividend yield of 1.21%. Lam Research’s payout ratio is presently 22.03%.
Lam Research announced that its board has initiated a stock buyback program on Tuesday, November 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other Lam Research news, insider Martin B. Anstice sold 21,955 shares of Lam Research stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $211.16, for a total transaction of $4,636,017.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Seshasayee Varadarajan sold 25,453 shares of Lam Research stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total value of $5,472,395.00. The disclosure for this sale can be found here. Insiders sold 56,722 shares of company stock worth $12,088,028 over the last three months. 0.41% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Krilogy Financial LLC boosted its position in Lam Research by 91.6% during the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 263 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Lam Research by 144.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 392 shares during the last quarter. Bollard Group LLC purchased a new position in shares of Lam Research during the third quarter valued at approximately $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Lam Research during the third quarter valued at approximately $134,000. Finally, Odey Holdings AG lifted its holdings in shares of Lam Research by 9.9% during the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 73 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.
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About Lam Research
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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