B. Riley restated their buy rating on shares of Lam Research Corporation (NASDAQ:LRCX) in a research note published on Tuesday morning. The firm currently has a $250.00 price objective on the semiconductor company’s stock.
A number of other analysts also recently issued reports on the stock. Credit Suisse Group reissued a buy rating on shares of Lam Research Corporation in a research report on Tuesday, August 29th. DA Davidson reissued a buy rating and set a $175.00 target price on shares of Lam Research Corporation in a research report on Wednesday, July 26th. Argus initiated coverage on shares of Lam Research Corporation in a research report on Tuesday, September 12th. They set a buy rating and a $196.00 target price for the company. Needham & Company LLC reissued a buy rating and set a $200.00 target price on shares of Lam Research Corporation in a research report on Friday, September 1st. Finally, KeyCorp reissued an outperform rating and set a $202.00 target price on shares of Lam Research Corporation in a research report on Saturday, September 16th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Lam Research Corporation presently has a consensus rating of Buy and an average target price of $212.89.
Lam Research Corporation (NASDAQ:LRCX) opened at $210.47 on Tuesday. The firm has a market cap of $34,530.00, a PE ratio of 17.97, a PEG ratio of 0.97 and a beta of 1.63. Lam Research Corporation has a 1-year low of $97.79 and a 1-year high of $217.00. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.27 by $0.19. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The company’s revenue was up 51.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 EPS. research analysts anticipate that Lam Research Corporation will post 14.45 earnings per share for the current year.
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Lam Research Corporation announced that its board has authorized a share repurchase program on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from Lam Research Corporation’s previous quarterly dividend of $0.45. Lam Research Corporation’s dividend payout ratio (DPR) is presently 16.44%.
In related news, Director Michael R. Cannon sold 9,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $212.43, for a total transaction of $1,911,870.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Timothy Archer sold 8,691 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total value of $1,492,766.16. The disclosure for this sale can be found here. Insiders have sold 49,419 shares of company stock valued at $9,079,367 in the last three months. Corporate insiders own 0.41% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Lam Research Corporation by 5.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock worth $79,301,000 after purchasing an additional 28,662 shares during the last quarter. Pacad Investment Ltd. lifted its stake in Lam Research Corporation by 252.5% during the second quarter. Pacad Investment Ltd. now owns 36,369 shares of the semiconductor company’s stock worth $5,144,000 after purchasing an additional 26,052 shares during the last quarter. Highland Capital Management LLC bought a new position in Lam Research Corporation during the second quarter worth $578,000. Chicago Equity Partners LLC bought a new position in Lam Research Corporation during the second quarter worth $4,251,000. Finally, Signature Estate & Investment Advisors LLC lifted its stake in Lam Research Corporation by 15.2% during the third quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock worth $738,000 after purchasing an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 93.05% of the company’s stock.
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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