Lam Research Co. (LRCX) Given Average Rating of “Buy” by Brokerages

Shares of Lam Research Co. (NASDAQ:LRCX) have been assigned an average recommendation of “Buy” from the twenty-seven brokerages that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $223.97.

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus cut their target price on Lam Research from $295.00 to $279.00 and set a “buy” rating for the company in a research note on Friday, July 27th. JPMorgan Chase & Co. cut their target price on Lam Research from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Citigroup cut their target price on Lam Research from $239.00 to $216.00 and set a “buy” rating for the company in a research note on Monday, July 30th. Morgan Stanley cut their target price on Lam Research from $219.00 to $208.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Finally, BidaskClub raised Lam Research from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th.

Shares of LRCX stock traded down $3.83 during trading hours on Monday, reaching $147.85. 1,870,934 shares of the company’s stock were exchanged, compared to its average volume of 3,847,648. The company has a market cap of $23.54 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 0.88 and a beta of 1.30. Lam Research has a 1 year low of $133.42 and a 1 year high of $234.88. The company has a current ratio of 2.66, a quick ratio of 2.00 and a debt-to-equity ratio of 0.34.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.14. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.46 EPS. On average, equities analysts forecast that Lam Research will post 14.37 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Lam Research by 0.9% during the 2nd quarter. BlackRock Inc. now owns 11,252,078 shares of the semiconductor company’s stock valued at $1,944,921,000 after buying an additional 102,790 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Lam Research by 4.4% during the 2nd quarter. Janus Henderson Group PLC now owns 5,503,855 shares of the semiconductor company’s stock valued at $951,341,000 after buying an additional 231,609 shares during the last quarter. FMR LLC grew its holdings in Lam Research by 51.9% during the 3rd quarter. FMR LLC now owns 3,538,138 shares of the semiconductor company’s stock valued at $536,736,000 after buying an additional 1,208,149 shares during the last quarter. LSV Asset Management grew its holdings in Lam Research by 9.5% during the 3rd quarter. LSV Asset Management now owns 2,891,119 shares of the semiconductor company’s stock valued at $438,582,000 after buying an additional 249,745 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Lam Research by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,254,126 shares of the semiconductor company’s stock valued at $341,950,000 after buying an additional 39,853 shares during the last quarter. Institutional investors and hedge funds own 89.79% 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.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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