Several other brokerages have also weighed in on LRCX. B. Riley reiterated a buy rating and issued a $106.00 price objective on shares of Lam Research Corp. in a research report on Tuesday, August 2nd. DA Davidson reiterated a buy rating and issued a $110.00 price objective on shares of Lam Research Corp. in a research report on Monday, August 15th. RBC Capital Markets reiterated an outperform rating and issued a $105.00 price objective (up from $95.00) on shares of Lam Research Corp. in a research report on Thursday, July 28th. Needham & Company LLC reiterated a buy rating and issued a $105.00 price objective (up from $95.00) on shares of Lam Research Corp. in a research report on Thursday, July 28th. Finally, Pacific Crest increased their price objective on Lam Research Corp. from $96.00 to $101.00 and gave the stock an overweight rating in a research report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $100.59.
Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 99.59 on Thursday. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 19.08 and a beta of 1.47. The firm’s 50-day moving average price is $94.09 and its 200-day moving average price is $86.17. Lam Research Corp. has a 12 month low of $63.10 and a 12 month high of $102.44.
Lam Research Corp. (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.64 by $0.16. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. The firm earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the firm earned $1.50 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts expect that Lam Research Corp. will post $7.02 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, September 12th. Lam Research Corp.’s dividend payout ratio (DPR) is currently 22.99%.
In other news, insider Richard A. Gottscho sold 47,540 shares of Lam Research Corp. stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $98.85, for a total transaction of $4,699,329.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.
Several hedge funds have recently bought and sold shares of LRCX. Legal & General Group Plc boosted its stake in Lam Research Corp. by 0.5% in the first quarter. Legal & General Group Plc now owns 689,290 shares of the company’s stock worth $56,933,000 after buying an additional 3,333 shares during the period. Bank of Montreal Can purchased a new stake in Lam Research Corp. during the second quarter worth approximately $30,739,000. Geode Capital Management LLC boosted its stake in Lam Research Corp. by 3.0% in the first quarter. Geode Capital Management LLC now owns 1,345,517 shares of the company’s stock worth $110,924,000 after buying an additional 39,093 shares during the period. New York State Teachers Retirement System boosted its stake in Lam Research Corp. by 1.3% in the second quarter. New York State Teachers Retirement System now owns 321,182 shares of the company’s stock worth $26,999,000 after buying an additional 4,166 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in Lam Research Corp. by 116.7% in the first quarter. Panagora Asset Management Inc. now owns 338,934 shares of the company’s stock worth $27,996,000 after buying an additional 182,531 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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