Lam Research (NASDAQ:LRCX) Upgraded by KeyCorp to Overweight Rating

KeyCorp upgraded shares of Lam Research (NASDAQ:LRCX) from a sector weight rating to an overweight rating in a research report report published on Friday morning, MarketBeat reports. They currently have $95.00 price objective on the semiconductor company’s stock.

LRCX has been the subject of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Sanford C. Bernstein cut their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Finally, BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.77.

Lam Research Trading Up 1.4 %

NASDAQ:LRCX opened at $80.30 on Friday. The business’s 50-day moving average is $74.68 and its two-hundred day moving average is $80.99. The firm has a market capitalization of $103.32 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. Lam Research has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the company posted $6.85 EPS. Lam Research’s revenue for the quarter was up 19.7% on a year-over-year basis. Research analysts predict that Lam Research will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is currently 29.74%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LRCX. Bradley Foster & Sargent Inc. CT grew its position in Lam Research by 107.8% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 478 shares of the semiconductor company’s stock valued at $509,000 after buying an additional 248 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Lam Research by 8.0% in the second quarter. Blair William & Co. IL now owns 5,755 shares of the semiconductor company’s stock valued at $6,128,000 after acquiring an additional 426 shares in the last quarter. MQS Management LLC acquired a new position in shares of Lam Research during the second quarter valued at approximately $228,000. Intech Investment Management LLC raised its holdings in Lam Research by 3.1% during the second quarter. Intech Investment Management LLC now owns 12,150 shares of the semiconductor company’s stock worth $12,938,000 after purchasing an additional 371 shares in the last quarter. Finally, Ieq Capital LLC lifted its position in Lam Research by 5.8% in the second quarter. Ieq Capital LLC now owns 14,655 shares of the semiconductor company’s stock worth $15,606,000 after purchasing an additional 799 shares during the period. 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.