Lam Research Corp. (NASDAQ:LRCX) had its price objective hoisted by Needham & Company LLC to $115.00 in a research note issued to investors on Thursday. Needham & Company LLC’s price objective would suggest a potential upside of 19.64% from the stock’s current price.
Other analysts also recently issued reports about the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $105.00 price objective (up from $95.00) on shares of Lam Research Corp. in a research note on Thursday, July 28th. Zacks Investment Research raised Lam Research Corp. from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research note on Friday, July 29th. B. Riley reaffirmed a “buy” rating and set a $106.00 price objective on shares of Lam Research Corp. in a research note on Thursday, July 28th. Stifel Nicolaus upped their price objective on Lam Research Corp. from $93.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Nomura upped their price objective on Lam Research Corp. from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, June 23rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Lam Research Corp. presently has an average rating of “Buy” and a consensus price target of $99.94.
Shares of Lam Research Corp. (NASDAQ:LRCX) traded up 3.46% during mid-day trading on Thursday, hitting $99.50. The stock had a trading volume of 7,331,893 shares. The stock has a 50 day moving average price of $93.10 and a 200-day moving average price of $85.57. Lam Research Corp. has a 52-week low of $63.10 and a 52-week high of $99.75. The company has a market cap of $15.95 billion, a PE ratio of 19.06 and a beta of 1.47.
Lam Research Corp. (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.16. The firm earned $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.50 EPS. On average, equities analysts expect that Lam Research Corp. will post $6.98 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Monday, September 12th. Lam Research Corp.’s dividend payout ratio (DPR) is 22.99%.
Large investors have recently bought and sold shares of the company. FMR LLC boosted 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 period. Investec Asset Management LTD acquired a new stake in Lam Research Corp. during the first quarter valued at about $143,984,000. Wellington Management Group LLP boosted 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 period. BlackRock Investment Management LLC boosted 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 period. Finally, BlackRock Advisors LLC boosted 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 period.
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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