Lam Research Corp. (NASDAQ:LRCX) had its price objective hoisted by Needham & Company LLC from $105.00 to $115.00 in a research note released on Thursday. Needham & Company LLC currently has a buy rating on the stock.
A number of other research analysts have also recently issued reports on LRCX. B. Riley restated a buy rating and set a $106.00 price objective on shares of Lam Research Corp. in a report on Tuesday, August 2nd. DA Davidson restated a buy rating and set a $110.00 price objective on shares of Lam Research Corp. in a report on Monday, August 15th. RBC Capital Markets reiterated an outperform rating and issued a $105.00 price target (up previously from $95.00) on shares of Lam Research Corp. in a report on Thursday, July 28th. Pacific Crest upped their price target on shares of Lam Research Corp. from $96.00 to $101.00 and gave the company an overweight rating in a report on Thursday, July 28th. Finally, Deutsche Bank AG reiterated a buy rating and issued a $105.00 price target (up previously from $95.00) on shares of Lam Research Corp. in a report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Lam Research Corp. has an average rating of Buy and an average price target of $100.59.
Lam Research Corp. (NASDAQ:LRCX) opened at 99.59 on Thursday. Lam Research Corp. has a 12-month low of $63.10 and a 12-month high of $102.44. The stock’s 50 day moving average is $94.09 and its 200-day moving average is $86.17. The company has a market cap of $15.96 billion, a P/E ratio of 19.08 and a beta of 1.47.
Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.16. The firm earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Lam Research Corp. had a net margin of 15.53% and a return on equity of 18.95%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.50 earnings per share. Analysts predict that Lam Research Corp. will post $7.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th were paid a $0.30 dividend. The ex-dividend date was Monday, September 12th. This represents a $1.20 annualized dividend and a dividend yield of 1.20%. Lam Research Corp.’s dividend payout ratio (DPR) is presently 22.99%.
In related news, insider Richard A. Gottscho sold 47,540 shares of the company’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $98.85, for a total value of $4,699,329.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in LRCX. Quadrant Capital Group LLC increased its position in Lam Research Corp. by 28.6% in the second quarter. Quadrant Capital Group LLC now owns 1,258 shares of the company’s stock valued at $103,000 after buying an additional 280 shares during the period. Mizuho Asset Management Co. Ltd. increased its stake in shares of Lam Research Corp. by 92.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,060 shares of the company’s stock worth $173,000 after buying an additional 992 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Lam Research Corp. during the second quarter worth about $177,000. Johnson Financial Group Inc. increased its stake in shares of Lam Research Corp. by 6,044.7% in the second quarter. Johnson Financial Group Inc. now owns 2,335 shares of the company’s stock worth $196,000 after buying an additional 2,297 shares during the last quarter. Finally, SSI Investment Management Inc. purchased a new stake in shares of Lam Research Corp. during the second quarter worth about $200,000.
About Lam Research Corp.
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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