Lam Research Corporation (NASDAQ:LRCX) had its price target boosted by Bank of America Corporation from $230.00 to $270.00 in a report published on Wednesday. The firm currently has a buy rating on the semiconductor company’s stock.
Other equities research analysts also recently issued reports about the company. B. Riley reiterated a buy rating and issued a $220.00 price objective on shares of Lam Research Corporation in a report on Thursday, July 27th. DA Davidson reiterated a buy rating and issued a $175.00 price objective on shares of Lam Research Corporation in a report on Wednesday, July 26th. BidaskClub upgraded Lam Research Corporation from a hold rating to a buy rating in a research note on Wednesday, July 12th. Stifel Nicolaus restated a buy rating and set a $215.00 price target (up from $189.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. Finally, Needham & Company LLC boosted their price target on Lam Research Corporation from $175.00 to $200.00 and gave the company a buy rating in a research note on Thursday, July 27th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $209.32.
Lam Research Corporation (NASDAQ:LRCX) traded up 2.17% during trading on Wednesday, reaching $205.34. 3,105,205 shares of the company traded hands. The firm has a market capitalization of $33.29 billion, a price-to-earnings ratio of 18.70 and a beta of 1.53. Lam Research Corporation has a 52 week low of $93.69 and a 52 week high of $206.34. The company’s 50-day moving average price is $180.03 and its 200 day moving average price is $158.44.
Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 EPS for the quarter, topping the consensus estimate of $3.27 by $0.19. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the company earned $1.81 EPS. Lam Research Corporation’s revenue for the quarter was up 51.8% on a year-over-year basis. On average, equities research analysts expect that Lam Research Corporation will post $14.53 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were paid a dividend of $0.45 per share. The ex-dividend date was Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.88%. Lam Research Corporation’s dividend payout ratio (DPR) is presently 16.45%.
In related news, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $175.00, for a total value of $131,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Timothy Archer sold 8,691 shares of the business’s stock in a transaction that occurred 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. Over the last quarter, insiders have sold 40,419 shares of company stock valued at $7,167,497. 0.41% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Keel Point LLC lifted its holdings in Lam Research Corporation by 0.4% in the 1st quarter. Keel Point LLC now owns 2,303 shares of the semiconductor company’s stock worth $296,000 after purchasing an additional 9 shares in the last quarter. Wetherby Asset Management Inc. lifted its holdings in Lam Research Corporation by 0.7% in the 2nd quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock worth $253,000 after purchasing an additional 12 shares in the last quarter. Fiduciary Trust Co. lifted its holdings in Lam Research Corporation by 1.0% in the 2nd quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock worth $289,000 after purchasing an additional 20 shares in the last quarter. Smithfield Trust Co. lifted its holdings in Lam Research Corporation by 0.9% in the 2nd quarter. Smithfield Trust Co. now owns 2,382 shares of the semiconductor company’s stock worth $337,000 after purchasing an additional 22 shares in the last quarter. Finally, Hanseatic Management Services Inc. lifted its holdings in Lam Research Corporation by 1.0% in the 2nd quarter. Hanseatic Management Services Inc. now owns 2,242 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 22 shares in the last quarter. 93.88% of the stock is currently owned by 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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