Lam Research (LRCX) Rating Reiterated by Mizuho
Mizuho reiterated their buy rating on shares of Lam Research (NASDAQ:LRCX) in a report issued on Tuesday, AnalystRatings.com reports. Mizuho currently has a $180.00 price target on the semiconductor company’s stock.
Other equities analysts have also issued research reports about the company. Needham & Company LLC started coverage on Lam Research in a report on Friday, December 21st. They set a buy rating and a $180.00 price objective on the stock. Credit Suisse Group reaffirmed a buy rating and set a $278.00 price objective on shares of Lam Research in a report on Monday, January 21st. Citigroup reaffirmed a buy rating and set a $215.00 price objective (up previously from $177.00) on shares of Lam Research in a report on Friday, March 15th. Morgan Stanley lowered Lam Research from an overweight rating to an equal weight rating in a report on Friday, February 22nd. Finally, Deutsche Bank raised their price objective on Lam Research from $160.00 to $180.00 and gave the stock a hold rating in a report on Monday, February 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $213.51.
Lam Research stock opened at $194.62 on Tuesday. Lam Research has a 1-year low of $122.64 and a 1-year high of $212.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.61 and a current ratio of 3.39. The firm has a market capitalization of $29.42 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 1.16 and a beta of 1.52.
Lam Research announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 23rd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 23% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 20th were paid a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $4.40 annualized dividend and a yield of 2.26%. Lam Research’s payout ratio is currently 24.62%.
In other news, Director Abhijit Y. Talwalkar sold 3,988 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $195.00, for a total value of $777,660.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Kevin Jennings sold 1,692 shares of the company’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $180.00, for a total transaction of $304,560.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,476 shares of company stock valued at $4,654,783. 0.44% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. We Are One Seven LLC bought a new stake in shares of Lam Research during the 4th quarter valued at about $26,000. Berman Capital Advisors LLC bought a new stake in shares of Lam Research during the 4th quarter valued at about $26,000. Duncker Streett & Co. Inc. grew its position in shares of Lam Research by 100.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. FTB Advisors Inc. grew its position in shares of Lam Research by 72.0% during the 4th quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 90 shares during the last quarter. Finally, Csenge Advisory Group bought a new stake in shares of Lam Research during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 89.12% 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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