Lam Research (NASDAQ:LRCX) Stock Price Up 2.5% – Still a Buy?

Lam Research Co. (NASDAQ:LRCX)’s share price traded up 2.5% on Tuesday . The company traded as high as $76.79 and last traded at $75.99. 2,083,493 shares changed hands during trading, a decline of 81% from the average session volume of 11,234,760 shares. The stock had previously closed at $74.17.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of recent research reports. TD Cowen raised their price objective on Lam Research from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. B. Riley lowered their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley decreased their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Lam Research Trading Up 3.2 %

The firm has a market cap of $101.92 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.18 and a beta of 1.48. The company has a fifty day moving average price of $77.73 and a 200-day moving average price of $88.66. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the firm posted $6.85 EPS. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. As a group, research analysts expect that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. Lam Research’s dividend payout ratio (DPR) is 29.74%.

Insider Transactions at Lam Research

In other news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Lam Research

Several large investors have recently bought and sold shares of LRCX. Strengthening Families & Communities LLC boosted its stake in Lam Research by 9.3% during the third quarter. Strengthening Families & Communities LLC now owns 1,871 shares of the semiconductor company’s stock worth $1,527,000 after buying an additional 159 shares during the last quarter. Glass Wealth Management Co LLC raised its holdings in shares of Lam Research by 9.2% during the 3rd quarter. Glass Wealth Management Co LLC now owns 2,485 shares of the semiconductor company’s stock worth $2,028,000 after acquiring an additional 210 shares during the period. Westfuller Advisors LLC acquired a new position in shares of Lam Research during the 3rd quarter valued at about $764,000. Claro Advisors LLC increased its position in Lam Research by 151.0% during the third quarter. Claro Advisors LLC now owns 527 shares of the semiconductor company’s stock worth $430,000 after purchasing an additional 317 shares during the last quarter. Finally, Seizert Capital Partners LLC raised its stake in Lam Research by 42.0% during the third quarter. Seizert Capital Partners LLC now owns 9,647 shares of the semiconductor company’s stock worth $7,873,000 after purchasing an additional 2,852 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

About Lam Research

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.