Shares of Lam Research Co. (NASDAQ:LRCX) have received a consensus rating of “Buy” from the twenty-six analysts that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $212.89.

Several research firms have weighed in on LRCX. Zacks Investment Research upgraded shares of Lam Research from a “sell” rating to a “hold” rating and set a $221.00 target price for the company in a report on Friday, October 13th. Argus began coverage on shares of Lam Research in a report on Tuesday, September 12th. They set a “buy” rating and a $196.00 target price for the company. KeyCorp restated a “buy” rating and set a $225.00 target price on shares of Lam Research in a report on Sunday, November 19th. Needham & Company LLC restated a “buy” rating and set a $220.00 target price (up from $200.00) on shares of Lam Research in a report on Friday, October 13th. Finally, Berenberg Bank restated a “buy” rating and set a $240.00 target price on shares of Lam Research in a report on Thursday, October 19th.

In other Lam Research news, insider Martin B. Anstice sold 21,955 shares of Lam Research stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $211.16, for a total transaction of $4,636,017.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Patrick J. Lord sold 264 shares of Lam Research stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,859 shares of company stock valued at $9,284,799. 0.41% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wetherby Asset Management Inc. lifted its position in shares of Lam Research by 0.7% during the second quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock worth $253,000 after purchasing an additional 12 shares in the last quarter. Fiduciary Trust Co. lifted its position in shares of Lam Research by 1.0% during the second quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock worth $289,000 after purchasing an additional 20 shares in the last quarter. Hanseatic Management Services Inc. lifted its position in shares of Lam Research by 1.0% during the second quarter. Hanseatic Management Services Inc. now owns 2,242 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 22 shares in the last quarter. ETRADE Capital Management LLC lifted its position in shares of Lam Research by 0.5% during the second quarter. ETRADE Capital Management LLC now owns 5,833 shares of the semiconductor company’s stock worth $825,000 after purchasing an additional 28 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. lifted its position in shares of Lam Research by 0.8% during the second quarter. Cutter & CO Brokerage Inc. now owns 4,635 shares of the semiconductor company’s stock worth $656,000 after purchasing an additional 35 shares in the last quarter. 93.37% of the stock is currently owned by institutional investors and hedge funds.

Lam Research (NASDAQ:LRCX) traded up $2.72 during trading hours on Friday, reaching $188.83. 3,156,254 shares of the company’s stock traded hands, compared to its average volume of 2,950,000. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83. Lam Research has a 52-week low of $105.30 and a 52-week high of $219.70. The stock has a market cap of $30,580.00, a P/E ratio of 16.28, a P/E/G ratio of 0.86 and a beta of 1.57.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.27 by $0.19. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the firm posted $1.81 EPS. The firm’s revenue for the quarter was up 51.8% on a year-over-year basis. sell-side analysts predict that Lam Research will post 14.74 EPS for the current year.

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

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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. This is an increase from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, December 5th. Lam Research’s payout ratio is presently 18.26%.

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Lam Research Company Profile

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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