BidaskClub lowered shares of Lam Research (NASDAQ:LRCX) from a strong-buy rating to a buy rating in a report released on Saturday morning.

A number of other analysts have also issued reports on LRCX. B. Riley reissued a buy rating and issued a $220.00 price target on shares of Lam Research in a research note on Thursday, August 10th. Zacks Investment Research lowered Lam Research from a strong-buy rating to a hold rating in a research note on Tuesday, September 26th. J P Morgan Chase & Co reaffirmed a buy rating and issued a $230.00 price objective on shares of Lam Research in a research note on Wednesday, October 18th. DA Davidson reaffirmed a buy rating on shares of Lam Research in a research note on Wednesday, October 18th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $176.00 price objective on shares of Lam Research in a research note on Monday, August 14th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $212.89.

Shares of Lam Research (LRCX) opened at $180.53 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31. Lam Research has a 52 week low of $101.88 and a 52 week high of $219.70. The company has a market capitalization of $29,770.00, a price-to-earnings ratio of 16.18, a P/E/G ratio of 0.86 and a beta of 1.57.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. Lam Research had a return on equity of 33.63% and a net margin of 23.84%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the company earned $1.81 EPS. The firm’s quarterly revenue was up 51.8% on a year-over-year basis. research analysts expect that Lam Research will post 14.74 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.50 per share. This is an increase from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Tuesday, December 5th. Lam Research’s dividend payout ratio (DPR) is presently 16.44%.

Lam Research announced that its Board of Directors has approved a stock repurchase plan on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

In other Lam Research news, Director Stephen G. Newberry sold 750 shares of Lam Research stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $170.00, for a total transaction of $127,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Timothy Archer sold 8,691 shares of Lam Research stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total value of $1,492,766.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,688 shares of company stock worth $13,783,130. Company insiders own 0.41% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Wetherby Asset Management Inc. increased its holdings in shares of Lam Research by 0.7% in the 2nd quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock valued at $253,000 after acquiring an additional 12 shares during the last quarter. Fiduciary Trust Co. increased its holdings in shares of Lam Research by 1.0% in the 2nd quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock valued at $289,000 after acquiring an additional 20 shares during the last quarter. Smithfield Trust Co. increased its holdings in shares of Lam Research by 0.9% in the 2nd quarter. Smithfield Trust Co. now owns 2,382 shares of the semiconductor company’s stock valued at $337,000 after acquiring an additional 22 shares during the last quarter. Hanseatic Management Services Inc. increased its holdings in shares of Lam Research by 1.0% in the 2nd quarter. Hanseatic Management Services Inc. now owns 2,242 shares of the semiconductor company’s stock valued at $317,000 after acquiring an additional 22 shares during the last quarter. Finally, ETRADE Capital Management LLC increased its holdings in shares of Lam Research by 0.5% in the 2nd quarter. ETRADE Capital Management LLC now owns 5,833 shares of the semiconductor company’s stock valued at $825,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 93.80% of the company’s stock.

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About Lam Research

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.

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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