Morgan Stanley reissued their overweight rating on shares of Lam Research Corp. (NASDAQ:LRCX) in a research report report published on Saturday. The firm currently has a $105.00 price target on the stock.
LRCX has been the topic of several other research reports. Zacks Investment Research upgraded shares of Lam Research Corp. from a hold rating to a buy rating and set a $102.00 price target on the stock in a report on Tuesday, September 27th. Needham & Company LLC restated a buy rating and set a $105.00 target price on shares of Lam Research Corp. in a report on Tuesday, September 20th. Cowen and Company restated an outperform rating and set a $95.00 target price on shares of Lam Research Corp. in a report on Wednesday, August 31st. Citigroup Inc. boosted their target price on shares of Lam Research Corp. from $94.00 to $105.00 and gave the company a buy rating in a report on Friday, July 29th. Finally, Bank of America Corp. set a $108.00 target price on shares of Lam Research Corp. and gave the company a buy rating in a report on Wednesday, August 10th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $100.59.
Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 100.35 on Friday. Lam Research Corp. has a one year low of $63.10 and a one year high of $100.89. The stock has a 50 day moving average of $93.65 and a 200 day moving average of $85.82. The stock has a market cap of $16.08 billion, a P/E ratio of 19.22 and a beta of 1.47.
Lam Research Corp. (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.16. The business had revenue of $1.55 billion for 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 firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 earnings per share. On average, analysts forecast that Lam Research Corp. will post $7.02 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, September 12th. Lam Research Corp.’s dividend payout ratio (DPR) is 22.99%.
A number of institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Lam Research Corp. by 149.5% in the second quarter. FMR LLC now owns 10,317,149 shares of the company’s stock worth $867,259,000 after buying an additional 6,182,540 shares during the period. Investec Asset Management LTD acquired a new stake in Lam Research Corp. during the first quarter valued at approximately $143,984,000. Wellington Management Group LLP raised its stake in Lam Research Corp. by 29.1% in the first quarter. Wellington Management Group LLP now owns 5,025,762 shares of the company’s stock valued at $415,128,000 after buying an additional 1,131,843 shares during the last quarter. BlackRock Investment Management LLC raised its stake in Lam Research Corp. by 209.6% in the second quarter. BlackRock Investment Management LLC now owns 1,093,309 shares of the company’s stock valued at $91,904,000 after buying an additional 740,148 shares during the last quarter. Finally, BlackRock Advisors LLC raised its stake in Lam Research Corp. by 71.3% in the second quarter. BlackRock Advisors LLC now owns 1,671,546 shares of the company’s stock valued at $140,511,000 after buying an additional 695,595 shares during the last quarter.
Lam Research Corp. Company Profile
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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