Lam Research Corporation (LRCX) Earns Buy Rating from KeyCorp

KeyCorp reiterated their buy rating on shares of Lam Research Corporation (NASDAQ:LRCX) in a research report released on Sunday. KeyCorp currently has a $225.00 target price on the semiconductor company’s stock.

A number of other brokerages have also recently commented on LRCX. B. Riley reiterated a buy rating and set a $250.00 target price on shares of Lam Research Corporation in a report on Tuesday, November 14th. Royal Bank Of Canada increased their target price on Lam Research Corporation from $210.00 to $225.00 and gave the company an outperform rating in a report on Wednesday, November 15th. Deutsche Bank AG increased their target price on Lam Research Corporation to $230.00 and gave the company a buy rating in a report on Wednesday, November 15th. Needham & Company LLC increased their target price on Lam Research Corporation from $220.00 to $235.00 and gave the company a buy rating in a report on Thursday, October 19th. Finally, Berenberg Bank reiterated a buy rating and set a $240.00 target price on shares of Lam Research Corporation in a report on Thursday, October 19th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Lam Research Corporation currently has an average rating of Buy and a consensus target price of $212.89.

Lam Research Corporation (NASDAQ LRCX) opened at $218.91 on Friday. Lam Research Corporation has a one year low of $97.79 and a one year high of $219.70. The firm has a market capitalization of $35,450.00, a P/E ratio of 18.13, a P/E/G ratio of 0.96 and a beta of 1.63. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24.

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

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Lam Research Corporation declared that its board has approved a stock repurchase plan on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The company 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. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.91%. This is a boost from Lam Research Corporation’s previous quarterly dividend of $0.45. Lam Research Corporation’s dividend payout ratio (DPR) is presently 16.44%.

In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $170.00, for a total value of $127,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Martin B. Anstice sold 21,955 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $211.16, for a total value of $4,636,017.80. The disclosure for this sale can be found here. Insiders sold 71,374 shares of company stock worth $13,715,385 over the last three months. 0.41% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Lam Research Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 16,162,079 shares of the semiconductor company’s stock valued at $2,285,802,000 after purchasing an additional 411,951 shares during the period. Janus Henderson Group PLC raised its position in Lam Research Corporation by 5.7% in the third quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock valued at $927,828,000 after purchasing an additional 271,546 shares during the period. American Century Companies Inc. raised its position in Lam Research Corporation by 7.8% in the second quarter. American Century Companies Inc. now owns 1,950,620 shares of the semiconductor company’s stock valued at $275,876,000 after purchasing an additional 141,444 shares during the period. Harbour Capital Advisors LLC raised its position in Lam Research Corporation by 13,054.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock valued at $13,370,000 after purchasing an additional 1,876,544 shares during the period. Finally, Nordea Investment Management AB raised its position in Lam Research Corporation by 66.0% in the third quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock valued at $291,488,000 after purchasing an additional 626,034 shares during the period. 93.61% of the stock is currently owned by institutional investors.

About Lam Research Corporation

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 Corporation (NASDAQ:LRCX)

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