Lam Research Corporation (NASDAQ:LRCX) Stock Has Consensus Target Price of $360.23 According to Analysts

Lam Research Corporation (NASDAQ:LRCX) has received an average rating of “Moderate Buy” from the thirty-two analysts that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and twenty-six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $360.23.

A number of research analysts recently weighed in on the stock. UBS Group restated a “buy” rating and set a $400.00 target price (down from $425.00) on shares of Lam Research in a research note on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $375.00 price objective on shares of Lam Research in a research report on Monday, October 19th. TD Cowen restated a “buy” rating and set a $400.00 price objective (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. Needham & Company LLC reduced their target price on shares of Lam Research from $390.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Finally, Morgan Stanley set a $339.00 price objective on shares of Lam Research and gave the company an “overweight” rating in a report on Thursday, October 22nd.

Insider Activity at Lam Research

In other news, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total value of $3,007,970.18. Following the transaction, the director directly owned 20,995 shares of the company’s stock, valued at $6,607,966.30. The trade was a 31.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ava Harter sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the sale, the insider directly owned 42,462 shares in the company, valued at $12,843,056.52. This trade represents a 10.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lam Research

Several institutional investors and hedge funds have recently modified their holdings of LRCX. Paladin Partners LLC acquired a new position in shares of Lam Research in the 2nd quarter worth approximately $26,000. William Mack & Associates Inc. purchased a new position in Lam Research during the 3rd quarter valued at about $25,000. Dakota Community Bank & Trust NA acquired a new stake in shares of Lam Research in the third quarter worth about $33,000. Quintet Private Bank Europe S.A. grew its holdings in Lam Research by 100.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 100 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 50 shares during the last quarter. Finally, Bravera Wealth acquired a new position in shares of Lam Research in the second quarter valued at $46,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $239.11 on Wednesday. Lam Research has a 52-week low of $135.50 and a 52-week high of $438.50. The stock has a 50 day moving average price of $294.47 and a 200-day moving average price of $283.78. The firm has a market capitalization of $298.69 billion, a P/E ratio of 35.63, a P/E/G ratio of 0.89 and a beta of 1.97. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.02. The business had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $8.14 billion. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The firm’s quarterly revenue was up 54.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. As a group, equities research analysts anticipate that Lam Research will post 9.59 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were issued a $0.33 dividend. This is a boost from Lam Research’s previous quarterly dividend of $0.26. This represents a $1.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, September 23rd. Lam Research’s payout ratio is 19.67%.

About Lam Research

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.