Lam Research’s (LRCX) Buy Rating Reiterated at Susquehanna Bancshares

Susquehanna Bancshares reissued their buy rating on shares of Lam Research (NASDAQ:LRCX) in a report issued on Wednesday morning, The Fly reports. Susquehanna Bancshares currently has a $425.00 price objective on the semiconductor company’s stock, up from their prior price objective of $330.00.

Several other brokerages have also commented on LRCX. Morgan Stanley raised shares of Lam Research from an equal weight rating to an overweight rating and set a $334.00 price objective for the company in a research report on Tuesday, June 16th. B. Riley raised shares of Lam Research from a neutral rating to a buy rating and increased their price objective for the company from $270.00 to $435.00 in a research report on Tuesday, July 21st. Bank of America reissued a buy rating and set a $325.00 price target on shares of Lam Research in a research report on Monday, April 20th. Stifel Nicolaus lowered shares of Lam Research from a buy rating to a hold rating and set a $305.00 price target for the company. in a research report on Monday, June 22nd. Finally, Barclays raised their price target on shares of Lam Research from $315.00 to $350.00 and gave the stock an overweight rating in a research report on Monday, July 20th. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $370.35.

NASDAQ:LRCX opened at $377.16 on Wednesday. Lam Research has a fifty-two week low of $181.38 and a fifty-two week high of $381.48. The stock has a market capitalization of $54.75 billion, a P/E ratio of 24.93, a P/E/G ratio of 1.73 and a beta of 1.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 3.67 and a current ratio of 3.43. The company’s 50-day simple moving average is $327.42 and its 200-day simple moving average is $289.35.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $4.78 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.58. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Lam Research had a net margin of 22.42% and a return on equity of 49.72%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same period last year, the business earned $3.62 EPS. On average, research analysts forecast that Lam Research will post 17.13 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were paid a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $4.60 dividend on an annualized basis and a yield of 1.22%.

In related news, EVP Patrick J. Lord sold 10,719 shares of Lam Research stock in a transaction on Monday, July 13th. The shares were sold at an average price of $343.00, for a total value of $3,676,617.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Vahid Vahedi sold 10,688 shares of Lam Research stock in a transaction on Monday, July 6th. The shares were sold at an average price of $330.00, for a total transaction of $3,527,040.00. The disclosure for this sale can be found here. Insiders sold a total of 33,466 shares of company stock worth $11,250,054 in the last three months. 0.43% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its stake in Lam Research by 53,842.4% during the 1st quarter. Fisher Asset Management LLC now owns 542,121 shares of the semiconductor company’s stock worth $130,109,000 after purchasing an additional 541,116 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Lam Research by 32.3% during the 1st quarter. Nuveen Asset Management LLC now owns 2,112,376 shares of the semiconductor company’s stock worth $506,970,000 after purchasing an additional 516,115 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Lam Research by 41.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 902,889 shares of the semiconductor company’s stock worth $216,693,000 after purchasing an additional 264,117 shares during the last quarter. Sound Shore Management Inc. CT acquired a new stake in Lam Research during the 1st quarter worth $49,145,000. Finally, PNC Financial Services Group Inc. boosted its stake in Lam Research by 96.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 406,358 shares of the semiconductor company’s stock worth $97,525,000 after purchasing an additional 199,127 shares during the last quarter. 85.05% of the stock is currently owned by hedge funds and other institutional investors.

About Lam Research

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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