Lam Research (NASDAQ:LRCX) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Lam Research (NASDAQ:LRCX) in a research report released on Thursday, Benzinga reports. The brokerage currently has a $100.00 price target on the semiconductor company’s stock.

Other analysts also recently issued research reports about the stock. Citigroup reduced their price target on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research report on Monday, September 16th. UBS Group lowered their price objective on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company reduced their target price on Lam Research from $1,000.00 to $880.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Cantor Fitzgerald lowered their price target on shares of Lam Research from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, September 30th. Finally, 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 research note on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and an average target price of $97.03.

Lam Research Price Performance

Shares of LRCX stock traded up $1.18 during trading hours on Thursday, reaching $77.75. The company had a trading volume of 951,692 shares, compared to its average volume of 11,223,887. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The stock has a fifty day moving average of $79.60 and a 200-day moving average of $89.94. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 2.82, a PEG ratio of 1.75 and a beta of 1.47. Lam Research has a 12-month low of $57.44 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. On average, equities analysts anticipate that Lam Research will post 3.52 earnings per share for the current year.

Lam Research Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.18%. Lam Research’s payout ratio is 3.38%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Lam Research

Institutional investors have recently modified their holdings of the company. Foster Victor Wealth Advisors LLC grew its stake in Lam Research by 994.1% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock worth $190,066,000 after purchasing an additional 211,614 shares in the last quarter. Swedbank AB acquired a new position in shares of Lam Research during the 1st quarter worth $192,668,000. Van ECK Associates Corp grew its stake in Lam Research by 24.6% in the 1st quarter. Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock valued at $940,592,000 after acquiring an additional 191,230 shares during the last quarter. Vanguard Group Inc. raised its stake in Lam Research by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock worth $2,875,023,000 after acquiring an additional 142,903 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

About Lam Research

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.