LRCX has been the subject of several other research reports. Zacks Investment Research raised shares of Lam Research Corp. from a hold rating to a buy rating and set a $102.00 price objective for the company in a research note on Tuesday, September 27th. Needham & Company LLC reissued a buy rating and issued a $105.00 price objective on shares of Lam Research Corp. in a research note on Tuesday, September 20th. Cowen and Company reissued an outperform rating and issued a $95.00 price objective on shares of Lam Research Corp. in a research note on Wednesday, August 31st. Citigroup Inc. raised their price objective on shares of Lam Research Corp. from $94.00 to $105.00 and gave the stock a buy rating in a research note on Friday, July 29th. Finally, Bank of America Corp. set a $108.00 price objective on shares of Lam Research Corp. and gave the stock a buy rating in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $100.59.
Lam Research Corp. (NASDAQ:LRCX) traded up 0.16% during mid-day trading on Friday, hitting $100.35. The company had a trading volume of 5,797,149 shares. Lam Research Corp. has a 1-year low of $63.10 and a 1-year high of $100.89. The firm has a market capitalization of $16.08 billion, a PE ratio of 19.22 and a beta of 1.47. The company has a 50 day moving average of $93.65 and a 200 day moving average of $85.82.
Lam Research Corp. (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.16. The business earned $1.55 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th were paid a dividend of $0.30 per share. 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 payout ratio is currently 22.99%.
Several large investors have recently bought and sold shares of LRCX. FMR LLC increased its stake in Lam Research Corp. by 149.5% in the second quarter. FMR LLC now owns 10,317,149 shares of the company’s stock valued at $867,259,000 after buying an additional 6,182,540 shares during the last quarter. Investec Asset Management LTD bought a new stake in Lam Research Corp. during the first quarter valued at approximately $143,984,000. Wellington Management Group LLP increased 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 increased 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 increased 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.
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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