Lam Research (LRCX) Upgraded at Instinet
Several other equities analysts have also recently weighed in on the stock. BidaskClub cut shares of Lam Research from a strong-buy rating to a buy rating in a research note on Saturday, December 2nd. KeyCorp reaffirmed a buy rating and set a $225.00 price target on shares of Lam Research in a research note on Sunday, November 19th. Deutsche Bank raised their price target on shares of Lam Research to $230.00 and gave the stock a buy rating in a research note on Wednesday, November 15th. B. Riley reissued a buy rating and issued a $250.00 price objective on shares of Lam Research in a report on Tuesday, November 14th. Finally, Royal Bank Of Canada increased their price objective on Lam Research from $210.00 to $225.00 and gave the company an outperform rating in a report on Wednesday, November 15th. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $212.99.
Shares of Lam Research (NASDAQ LRCX) traded down $2.70 on Thursday, hitting $186.46. 3,342,687 shares of the stock traded hands, compared to its average volume of 2,956,374. The company has a market cap of $30,196.45, a PE ratio of 16.06, a P/E/G ratio of 0.85 and a beta of 1.57. Lam Research has a one year low of $103.01 and a one year high of $219.70. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The business’s quarterly revenue was up 51.8% on a year-over-year basis. During the same period last year, the business earned $1.81 EPS. equities research analysts forecast that Lam Research will post 14.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th will be given a dividend of $0.50 per share. This is a boost from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 annualized dividend and a yield of 1.07%. Lam Research’s dividend payout ratio (DPR) is presently 18.28%.
Lam Research declared that its board has authorized a stock repurchase program on Tuesday, November 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Lam Research news, VP Patrick J. Lord sold 264 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $216.08, for a total transaction of $57,045.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Timothy Archer sold 8,691 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total value of $1,492,766.16. The disclosure for this sale can be found here. Insiders have sold a total of 71,688 shares of company stock worth $13,783,130 in the last quarter. Company insiders own 0.41% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Lam Research by 2.6% in the second quarter. Vanguard Group Inc. now owns 16,162,079 shares of the semiconductor company’s stock worth $2,285,802,000 after purchasing an additional 411,951 shares during the period. Janus Henderson Group PLC increased its position in shares of Lam Research by 5.7% in the third quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock worth $927,828,000 after purchasing an additional 271,546 shares during the period. American Century Companies Inc. increased its position in shares of Lam Research by 7.8% in the second quarter. American Century Companies Inc. now owns 1,950,620 shares of the semiconductor company’s stock worth $275,876,000 after purchasing an additional 141,444 shares during the period. Nordea Investment Management AB increased its position in shares of Lam Research by 66.0% in the third quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock worth $291,488,000 after purchasing an additional 626,034 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in Lam Research by 9.5% in the second quarter. UBS Asset Management Americas Inc. now owns 977,791 shares of the semiconductor company’s stock valued at $138,289,000 after acquiring an additional 84,912 shares during the last quarter. Institutional investors own 93.80% of the company’s stock.
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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