Fintel reports that on October 19, 2023, JP Morgan maintained coverage of Lam Research (NASDAQ:LRCX) with a Overweight recommendation.
Analyst Price Forecast Suggests 14.93% Upside
As of October 5, 2023, the average one-year price target for Lam Research is 691.67. The forecasts range from a low of 312.09 to a high of $866.25. The average price target represents an increase of 14.93% from its latest reported closing price of 601.83.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lam Research is 15,660MM, a decrease of 1.11%. The projected annual non-GAAP EPS is 28.62.
Lam Research Declares $2.00 Dividend
On August 24, 2023 the company declared a regular quarterly dividend of $2.00 per share ($8.00 annualized). Shareholders of record as of September 13, 2023 received the payment on October 4, 2023. Previously, the company paid $1.72 per share.
At the current share price of $601.83 / share, the stock's dividend yield is 1.33%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.53%, the lowest has been 0.79%, and the highest has been 3.57%. The standard deviation of yields is 0.61 (n=235).
The current dividend yield is 0.33 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.27. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.54%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2610 funds or institutions reporting positions in Lam Research. This is an increase of 28 owner(s) or 1.08% in the last quarter. Average portfolio weight of all funds dedicated to LRCX is 0.55%, an increase of 9.51%. Total shares owned by institutions decreased in the last three months by 3.07% to 132,882K shares. 
The put/call ratio of LRCX is 1.53, indicating a bearish outlook.
What are Other Shareholders Doing?
Ameriprise Financial holds 5,244K shares representing 3.97% ownership of the company. In it's prior filing, the firm reported owning 5,615K shares, representing a decrease of 7.08%. The firm increased its portfolio allocation in LRCX by 8.27% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,188K shares representing 3.17% ownership of the company. In it's prior filing, the firm reported owning 4,177K shares, representing an increase of 0.26%. The firm increased its portfolio allocation in LRCX by 12.18% over the last quarter.
Jpmorgan Chase holds 3,733K shares representing 2.82% ownership of the company. In it's prior filing, the firm reported owning 3,519K shares, representing an increase of 5.72%. The firm increased its portfolio allocation in LRCX by 813.77% over the last quarter.
Price T Rowe Associates holds 3,713K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 3,918K shares, representing a decrease of 5.53%. The firm increased its portfolio allocation in LRCX by 141.31% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 3,199K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 3,149K shares, representing an increase of 1.57%. The firm increased its portfolio allocation in LRCX by 11.58% over the last quarter.
Lam Research Background Information
(This description is provided by the company.)
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. As a trusted, collaborative partner to the world's leading semiconductor companies, the company combines superior systems engineering capability, technology leadership, and unwavering commitment to customer success to accelerate innovation through enhanced device performance. In fact, today, nearly every advanced chip is built with Lam technology. Lam Research is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe..
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This story originally appeared on Fintel.
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