BidaskClub lowered shares of Lam Research Corporation (NASDAQ:LRCX) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning.

LRCX has been the subject of a number of other reports. Morgan Stanley reiterated an overweight rating and set a $129.00 price objective on shares of Lam Research Corporation in a report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) cut shares of Lam Research Corporation from a conviction-buy rating to a buy rating and lifted their price objective for the company from $153.00 to $160.00 in a report on Monday, May 8th. They noted that the move was a valuation call. B. Riley reiterated a buy rating and set a $175.00 price objective on shares of Lam Research Corporation in a report on Wednesday, April 19th. Deutsche Bank AG lifted their price objective on shares of Lam Research Corporation from $155.00 to $170.00 and gave the company a buy rating in a report on Tuesday, May 30th. Finally, Stifel Nicolaus reiterated a buy rating and set a $150.00 price objective (up from $125.00) on shares of Lam Research Corporation in a report on Monday, March 27th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Lam Research Corporation presently has a consensus rating of Buy and a consensus price target of $151.31.

Shares of Lam Research Corporation (NASDAQ:LRCX) opened at 151.00 on Wednesday. The firm’s 50 day moving average is $153.23 and its 200 day moving average is $127.28. The company has a market cap of $24.36 billion, a PE ratio of 19.18 and a beta of 1.39. Lam Research Corporation has a 12 month low of $79.15 and a 12 month high of $167.05.

Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, April 18th. The semiconductor company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.25. The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Lam Research Corporation had a net margin of 19.82% and a return on equity of 23.84%. The business’s revenue was up 63.9% on a year-over-year basis. During the same period last year, the company earned $1.18 earnings per share. On average, equities analysts predict that Lam Research Corporation will post $9.88 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 7th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Monday, June 5th. Lam Research Corporation’s dividend payout ratio is 22.96%.

In other Lam Research Corporation news, COO Timothy Archer sold 4,223 shares of Lam Research Corporation stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $125.25, for a total value of $528,930.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Patrick J. Lord sold 2,770 shares of Lam Research Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $155.35, for a total transaction of $430,319.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,982 shares of company stock worth $5,357,071. Insiders own 0.46% of the company’s stock.

A number of hedge funds have recently made changes to their positions in LRCX. Investec Asset Management North America Inc. raised its stake in shares of Lam Research Corporation by 5.3% in the fourth quarter. Investec Asset Management North America Inc. now owns 115,682 shares of the semiconductor company’s stock valued at $12,231,000 after buying an additional 5,840 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Lam Research Corporation by 162.2% in the fourth quarter. Private Advisor Group LLC now owns 9,815 shares of the semiconductor company’s stock valued at $1,070,000 after buying an additional 6,071 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Lam Research Corporation during the fourth quarter valued at approximately $987,000. Coldstream Capital Management Inc. raised its stake in shares of Lam Research Corporation by 34.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,732 shares of the semiconductor company’s stock valued at $606,000 after buying an additional 1,474 shares in the last quarter. Finally, Prudential PLC bought a new stake in shares of Lam Research Corporation during the fourth quarter valued at approximately $222,000. 99.35% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Corporation Company Profile

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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