Nomura initiated coverage on shares of Lam Research (NASDAQ:LRCX) in a research report released on Wednesday morning, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $216.00 price objective on the semiconductor company’s stock.

A number of other analysts have also weighed in on the stock. KeyCorp upped their price target on shares of Lam Research from $236.00 to $252.00 and gave the stock an overweight rating in a research note on Thursday, August 1st. Evercore ISI raised shares of Lam Research from an in-line rating to an outperform rating in a research note on Tuesday, September 3rd. Wells Fargo & Co upped their price target on shares of Lam Research from $195.00 to $200.00 and gave the stock a market perform rating in a research note on Thursday, August 1st. DA Davidson lowered shares of Lam Research from a buy rating to a neutral rating and reduced their price target for the stock from $225.00 to $200.00 in a research note on Monday, July 8th. Finally, Credit Suisse Group reaffirmed a positive rating on shares of Lam Research in a research note on Monday, July 8th. They noted that the move was a valuation call. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $223.59.

Lam Research stock opened at $235.31 on Wednesday. The company has a quick ratio of 2.96, a current ratio of 3.61 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $212.51 and a two-hundred day moving average price of $194.59. The firm has a market capitalization of $34.35 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.46 and a beta of 1.62. Lam Research has a 52-week low of $122.64 and a 52-week high of $239.40.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.22. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.37 billion. Lam Research had a net margin of 22.70% and a return on equity of 43.72%. Lam Research’s revenue was down 24.5% on a year-over-year basis. During the same period in the previous year, the business posted $5.31 EPS. Research analysts expect that Lam Research will post 13.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Tuesday, October 1st will be issued a $1.15 dividend. This is an increase from Lam Research’s previous quarterly dividend of $1.10. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, September 30th. Lam Research’s payout ratio is presently 30.24%.

In related news, EVP Richard A. Gottscho sold 3,741 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $219.00, for a total value of $819,279.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Sarah A. O’dowd sold 22,140 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $233.77, for a total transaction of $5,175,667.80. The disclosure for this sale can be found here. Insiders sold a total of 67,997 shares of company stock worth $14,854,855 over the last quarter. Insiders own 0.44% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LRCX. Geode Capital Management LLC raised its holdings in shares of Lam Research by 18.6% during the fourth quarter. Geode Capital Management LLC now owns 2,519,701 shares of the semiconductor company’s stock valued at $342,720,000 after acquiring an additional 395,218 shares during the period. Stephens Inc. AR acquired a new stake in shares of Lam Research during the first quarter valued at approximately $455,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Lam Research by 9.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 22,804 shares of the semiconductor company’s stock valued at $4,083,000 after acquiring an additional 1,932 shares during the period. Raymond James & Associates raised its holdings in shares of Lam Research by 25.4% during the first quarter. Raymond James & Associates now owns 81,961 shares of the semiconductor company’s stock valued at $14,673,000 after acquiring an additional 16,597 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in shares of Lam Research by 119.4% during the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

Further Reading: The limitations of an equal weight rating

Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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