Lam Research (NASDAQ:LRCX) Shares Up 0.2% – Should You Buy?

by · The Markets Daily

Shares of Lam Research Co. (NASDAQ:LRCX – Get Free Report) rose 0.2% during trading on Wednesday . The company traded as high as $73.46 and last traded at $73.17. Approximately 3,317,607 shares were traded during trading, a decline of 70% from the average daily volume of 11,133,337 shares. The stock had previously closed at $73.00.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LRCX. B. Riley reduced their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday. Morgan Stanley cut their target price on Lam Research from $81.00 to $77.00 in a research report on Wednesday. Cantor Fitzgerald dropped their price objective on Lam Research from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Mizuho cut their price objective on shares of Lam Research from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, UBS Group lowered their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.82.

Check Out Our Latest Research Report on Lam Research

Lam Research Stock Performance

The firm has a market capitalization of $9.41 billion, a PE ratio of 2.65, a PEG ratio of 1.75 and a beta of 1.47. The company has a quick ratio of 2.00, a current ratio of 2.97 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $79.82 and a 200 day moving average of $90.11.

Lam Research (NASDAQ:LRCX – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the business earned $0.60 earnings per share. Lam Research’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities research analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.28%. Lam Research’s dividend payout ratio (DPR) is presently 3.38%.

Insider Buying and Selling

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares of the company’s stock, valued at approximately $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lam Research

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Lam Research in the second quarter worth approximately $32,000. RFP Financial Group LLC boosted its holdings in shares of Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 12 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Lam Research in the second quarter worth about $40,000. Country Trust Bank purchased a new position in Lam Research during the 2nd quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC bought a new position in Lam Research during the 2nd quarter valued at approximately $45,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Company Profile

(Get Free Report)

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.

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