Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “buy” rating restated by equities researchers at Credit Suisse Group AG in a research note issued to investors on Thursday. They currently have a $100.00 price objective on the stock. Credit Suisse Group AG’s price objective indicates a potential upside of 4.04% from the stock’s current price.
LRCX has been the subject of a number of other research reports. Zacks Investment Research raised Lam Research Corp. from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report 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 report 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 report on Wednesday, August 31st. Citigroup Inc. raised their price objective on Lam Research Corp. from $94.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Bank of America Corp. set a $108.00 price objective on Lam Research Corp. and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Lam Research Corp. presently has a consensus rating of “Buy” and an average target price of $99.94.
Shares of Lam Research Corp. (NASDAQ:LRCX) traded up 4.18% during mid-day trading on Thursday, reaching $100.19. The company’s stock had a trading volume of 9,919,100 shares. The firm has a market cap of $16.06 billion, a P/E ratio of 19.19 and a beta of 1.47. The firm’s 50-day moving average price is $93.10 and its 200 day moving average price is $85.57. Lam Research Corp. has a 12-month low of $63.10 and a 12-month high of $100.47.
Lam Research Corp. (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, topping 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 return on equity of 18.95% and a net margin of 15.53%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 EPS. On average, analysts expect that Lam Research Corp. will post $6.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.20 annualized dividend and a yield of 1.25%. Lam Research Corp.’s dividend payout ratio (DPR) is currently 22.99%.
Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its stake 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 worth $103,000 after buying an additional 280 shares during the period. Mizuho Asset Management Co. Ltd. raised its stake in 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 period. Signature Estate & Investment Advisors LLC bought a new stake in Lam Research Corp. during the second quarter worth about $177,000. Johnson Financial Group Inc. raised its stake in 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 period. Finally, SSI Investment Management Inc. bought a new stake in Lam Research Corp. during the second quarter worth about $200,000.
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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