Credit Suisse Group set a $214.00 target price on Lam Research Corporation (NASDAQ:LRCX) in a report issued on Thursday, July 27th. The brokerage currently has a buy rating on the semiconductor company’s stock.
Other analysts have also issued reports about the stock. Morgan Stanley reaffirmed an overweight rating and set a $129.00 price objective on shares of Lam Research Corporation in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) lowered shares of Lam Research Corporation from a conviction-buy rating to a buy rating and increased their price target for the stock from $153.00 to $160.00 in a research report on Monday, May 8th. They noted that the move was a valuation call. B. Riley reissued a buy rating and issued a $175.00 price target on shares of Lam Research Corporation in a research report on Wednesday, April 19th. UBS AG reissued a buy rating and issued a $180.00 price target (up from $158.00) on shares of Lam Research Corporation in a research report on Wednesday, May 17th. Finally, Deutsche Bank AG increased their price objective on Lam Research Corporation from $155.00 to $170.00 and gave the stock a buy rating in a report on Tuesday, May 30th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $175.18.
Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 2.68% during trading on Thursday, reaching $164.50. 3,696,107 shares of the company traded hands. Lam Research Corporation has a 52 week low of $89.50 and a 52 week high of $170.00. The company has a market capitalization of $26.60 billion, a price-to-earnings ratio of 17.80 and a beta of 1.46. The firm’s 50 day moving average price is $154.58 and its 200-day moving average price is $140.33.
Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.95%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company earned $1.80 EPS. Lam Research Corporation’s revenue was up 51.6% on a year-over-year basis. Equities analysts anticipate that Lam Research Corporation will post $12.71 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.12%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s payout ratio is 19.57%.
In other Lam Research Corporation news, SVP Sarah A. O’dowd sold 10,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total value of $1,509,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total value of $120,375.00. The disclosure for this sale can be found here. Insiders sold a total of 51,656 shares of company stock worth $7,925,366 in the last 90 days. Company insiders own 0.46% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its position in shares of Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock worth $168,000 after buying an additional 4 shares in the last quarter. Keel Point LLC increased its stake in Lam Research Corporation by 0.4% in the first quarter. Keel Point LLC now owns 2,303 shares of the semiconductor company’s stock worth $296,000 after buying an additional 9 shares during the last quarter. Wetherby Asset Management Inc. increased its stake in Lam Research Corporation by 0.7% in the second quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock worth $253,000 after buying an additional 12 shares during the last quarter. Fiduciary Trust Co. increased its stake in Lam Research Corporation by 1.0% in the second quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock worth $289,000 after buying an additional 20 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock worth $109,000 after buying an additional 22 shares during the last quarter. 98.98% of the stock is currently owned by hedge funds and other institutional investors.
Lam Research Corporation 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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