Lam Research (NASDAQ:LRCX) Upgraded to Overweight at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Lam Research (NASDAQ:LRCX) from a neutral rating to an overweight rating in a research note issued to investors on Thursday, MarketBeat reports. Cantor Fitzgerald currently has $100.00 price objective on the semiconductor company’s stock, up from their previous price objective of $95.00. Cantor Fitzgerald also issued estimates for Lam Research’s FY2025 earnings at $3.77 EPS.

A number of other research analysts have also recently issued reports on LRCX. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Morgan Stanley lifted their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. The Goldman Sachs Group lowered their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Stock Up 7.4 %

Shares of LRCX opened at $80.73 on Thursday. The business’s 50 day simple moving average is $75.72 and its 200-day simple moving average is $78.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The company has a market capitalization of $103.87 billion, a P/E ratio of 24.52, a PEG ratio of 1.38 and a beta of 1.45. Lam Research has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 52.58% and a net margin of 26.49%. As a group, sell-side analysts predict that Lam Research will post 3.51 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Wednesday, December 11th. Lam Research’s payout ratio is 27.95%.

Institutional Trading of Lam Research

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its stake in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after acquiring an additional 15,005,178 shares during the period. Swedbank AB boosted its stake in shares of Lam Research by 1,488.8% in the 4th quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock valued at $221,674,000 after purchasing an additional 2,875,843 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Lam Research by 827.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160,523 shares of the semiconductor company’s stock worth $228,285,000 after buying an additional 2,819,668 shares during the period. Assenagon Asset Management S.A. bought a new position in Lam Research during the fourth quarter worth $175,652,000. Finally, Rhumbline Advisers boosted its position in Lam Research by 875.7% during the fourth quarter. Rhumbline Advisers now owns 2,538,109 shares of the semiconductor company’s stock valued at $183,327,000 after acquiring an additional 2,277,989 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Company Profile

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.