Bank of America Corp. reiterated their buy rating on shares of Lam Research Corp. (NASDAQ:LRCX) in a report issued on Monday. The firm currently has a $115.00 price objective on the stock.

A number of other research analysts have also weighed in on LRCX. Needham & Company LLC lifted their price target on shares of Lam Research Corp. from $105.00 to $115.00 and gave the company a buy rating in a research note on Thursday, October 6th. Pacific Crest set a $101.00 price objective on shares of Lam Research Corp. and gave the stock a buy rating in a research report on Thursday, August 11th. Stifel Nicolaus boosted their price objective on shares of Lam Research Corp. from $110.00 to $116.00 and gave the stock a buy rating in a research report on Monday. Zacks Investment Research lowered shares of Lam Research Corp. from a buy rating to a hold rating in a research report on Friday, October 14th. Finally, JPMorgan Chase & Co. reissued a buy rating on shares of Lam Research Corp. in a research report on Thursday, October 6th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Lam Research Corp. has an average rating of Buy and a consensus target price of $106.06.

Analyst Recommendations for Lam Research Corp. (NASDAQ:LRCX)

Shares of Lam Research Corp. (NASDAQ:LRCX) traded up 0.617% during midday trading on Monday, hitting $106.895. 249,275 shares of the company traded hands. The stock has a market capitalization of $17.41 billion, a P/E ratio of 21.218 and a beta of 1.49. The stock’s 50-day moving average is $98.50 and its 200 day moving average is $89.94. Lam Research Corp. has a 12-month low of $63.10 and a 12-month high of $107.37.

Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 19th. The company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.78 by $0.03. Lam Research Corp. had a net margin of 15.02% and a return on equity of 18.43%. The company earned $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the company earned $1.82 EPS. Lam Research Corp.’s revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Lam Research Corp. will post $7.69 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be issued a $0.45 dividend. This is a boost from Lam Research Corp.’s previous quarterly dividend of $0.30. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, December 12th. Lam Research Corp.’s dividend payout ratio (DPR) is currently 23.86%.

In related news, insider Richard A. Gottscho sold 47,540 shares of the stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $98.85, for a total value of $4,699,329.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of Lam Research Corp. by 28.6% in the second quarter. Quadrant Capital Group LLC now owns 1,258 shares of the company’s stock worth $103,000 after buying an additional 280 shares in the last quarter. MSI Financial Services Inc boosted its position in shares of Lam Research Corp. by 40.2% in the third quarter. MSI Financial Services Inc now owns 1,095 shares of the company’s stock valued at $104,000 after buying an additional 314 shares during the period. New York Life Trust Co. boosted its position in shares of Lam Research Corp. by 95.3% in the third quarter. New York Life Trust Co. now owns 1,170 shares of the company’s stock valued at $111,000 after buying an additional 571 shares during the period. Global X Management Co. LLC boosted its position in shares of Lam Research Corp. by 97.4% in the third quarter. Global X Management Co. LLC now owns 1,344 shares of the company’s stock valued at $127,000 after buying an additional 663 shares during the period. Finally, TLP Group LLC bought a new position in shares of Lam Research Corp. during the third quarter valued at $132,000.

About Lam Research Corp.

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.

5 Day Chart for NASDAQ:LRCX

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