Lam Research (LRCX) – Analysts’ Recent Ratings Changes

A number of firms have modified their ratings and price targets on shares of Lam Research (NASDAQ: LRCX) recently:

• 4/26/2024 – Lam Research was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 4/25/2024 – Lam Research had its price target raised by analysts at JPMorgan Chase & Co. from $900.00 to $950.00. They now have an “overweight” rating on the stock.
• 4/25/2024 – Lam Research had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $1,100.00 price target on the stock.
• 4/25/2024 – Lam Research had its price target lowered by analysts at Susquehanna from $880.00 to $850.00. They now have a “neutral” rating on the stock.
• 4/25/2024 – Lam Research had its price target raised by analysts at Barclays PLC from $825.00 to $865.00. They now have an “equal weight” rating on the stock.
• 4/25/2024 – Lam Research had its price target raised by analysts at Citigroup Inc. from $975.00 to $1,025.00. They now have a “buy” rating on the stock.
• 4/25/2024 – Lam Research had its price target raised by analysts at UBS Group AG from $1,130.00 to $1,150.00. They now have a “buy” rating on the stock.
• 4/25/2024 – Lam Research had its price target raised by analysts at Mizuho from $935.00 to $960.00. They now have a “buy” rating on the stock.
• 4/25/2024 – Lam Research had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $1,030.00 price target on the stock.
• 4/25/2024 – Lam Research had its price target raised by analysts at TD Cowen from $975.00 to $1,000.00. They now have a “buy” rating on the stock.
• 4/19/2024 – Lam Research was upgraded by analysts at B. Riley from a “neutral” rating to a “buy” rating. They now have a $1,100.00 price target on the stock, up previously from $870.00.
• 4/18/2024 – Lam Research had its price target raised by analysts at Needham & Company LLC from $900.00 to $1,030.00. They now have a “buy” rating on the stock.
• 4/16/2024 – Lam Research is now covered by analysts at Evercore ISI. They set an “outperform” rating and a $1,200.00 price target on the stock.
• 4/16/2024 – Lam Research had its price target raised by analysts at Stifel Nicolaus from $950.00 to $1,050.00. They now have a “buy” rating on the stock.
• 4/11/2024 – Lam Research is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a “hold” rating and a $1,000.00 price target on the stock.
• 4/8/2024 – Lam Research had its price target raised by analysts at Cantor Fitzgerald from $900.00 to $1,100.00. They now have a “neutral” rating on the stock.
• 4/2/2024 – Lam Research had its price target raised by analysts at Wells Fargo & Company from $930.00 to $980.00. They now have an “equal weight” rating on the stock.
• 3/5/2024 – Lam Research had its price target raised by analysts at UBS Group AG from $885.00 to $1,130.00. They now have a “buy” rating on the stock.
• 3/4/2024 – Lam Research had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $900.00 price target on the stock.

Lam Research Price Performance

Shares of LRCX opened at $894.41 on Wednesday. Lam Research Co. has a 12-month low of $507.19 and a 12-month high of $1,007.39. The business has a 50-day simple moving average of $943.60 and a two-hundred day simple moving average of $815.20. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The stock has a market cap of $117.26 billion, a PE ratio of 32.89, a PEG ratio of 2.88 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.53. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.99 EPS. Analysts anticipate that Lam Research Co. will post 29.54 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 0.89%. Lam Research’s payout ratio is 29.42%.

Insider Activity

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the completion of the sale, the director now owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Patrick J. Lord sold 60 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the sale, the executive vice president now owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now directly owns 10,541 shares of the company’s stock, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,089 shares of company stock valued at $6,614,781. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Lam Research

Several large investors have recently added to or reduced their stakes in LRCX. Kingswood Wealth Advisors LLC acquired a new stake in Lam Research during the third quarter worth approximately $253,000. Robeco Institutional Asset Management B.V. boosted its holdings in Lam Research by 58.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 73,455 shares of the semiconductor company’s stock worth $46,039,000 after acquiring an additional 27,013 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in Lam Research by 0.8% in the third quarter. Maryland State Retirement & Pension System now owns 10,333 shares of the semiconductor company’s stock worth $6,476,000 after acquiring an additional 85 shares in the last quarter. Hoey Investments Inc. lifted its holdings in shares of Lam Research by 9.9% in the third quarter. Hoey Investments Inc. now owns 2,863 shares of the semiconductor company’s stock valued at $1,794,000 after purchasing an additional 259 shares in the last quarter. Finally, Arlington Trust Co LLC bought a new position in shares of Lam Research in the third quarter valued at approximately $106,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.