Lam Research Co. (NASDAQ:LRCX) has been given an average rating of “Buy” by the twenty-eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, twenty-one have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $246.36.
LRCX has been the topic of several analyst reports. DA Davidson reiterated a “buy” rating on shares of Lam Research in a research report on Monday, July 23rd. UBS Group upgraded Lam Research from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Tuesday, June 26th. Citigroup lowered their target price on Lam Research from $245.00 to $239.00 and set a “buy” rating on the stock in a research report on Friday, July 13th. Bank of America lowered their target price on Lam Research from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, June 11th. Finally, Stifel Nicolaus lowered their target price on Lam Research from $295.00 to $279.00 and set a “buy” rating on the stock in a research report on Friday, July 27th.
Several institutional investors have recently made changes to their positions in LRCX. PointState Capital LP purchased a new position in shares of Lam Research in the first quarter valued at about $377,895,000. FMR LLC increased its holdings in shares of Lam Research by 92.5% in the second quarter. FMR LLC now owns 2,329,989 shares of the semiconductor company’s stock worth $402,737,000 after purchasing an additional 1,119,488 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Lam Research in the first quarter worth about $144,678,000. Swedbank increased its holdings in shares of Lam Research by 64.3% in the second quarter. Swedbank now owns 1,795,483 shares of the semiconductor company’s stock worth $310,349,000 after purchasing an additional 702,660 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Lam Research by 83.1% in the second quarter. Morgan Stanley now owns 1,530,120 shares of the semiconductor company’s stock worth $264,481,000 after purchasing an additional 694,440 shares during the last quarter. Institutional investors and hedge funds own 89.15% of the company’s stock.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $5.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.94 by $0.37. The firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.08 billion. Lam Research had a return on equity of 47.14% and a net margin of 21.49%. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period last year, the business posted $3.11 EPS. analysts expect that Lam Research will post 15.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, September 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.82%. Lam Research’s payout ratio is 24.62%.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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