Lam Research Corp. (LRCX) Given “Buy” Rating at Credit Suisse Group AG
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “buy” rating reissued by equities researchers at Credit Suisse Group AG in a research report issued on Thursday. They currently have a $100.00 price objective on the stock. Credit Suisse Group AG’s price target indicates a potential upside of 4.04% from the company’s current price.
A number of other brokerages have also recently commented on LRCX. B. Riley reaffirmed a “buy” rating and issued a $106.00 price target on shares of Lam Research Corp. in a research note on Tuesday, August 2nd. DA Davidson reaffirmed a “buy” rating and issued a $110.00 price target on shares of Lam Research Corp. in a research note on Monday, August 15th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $105.00 price target (up from $95.00) on shares of Lam Research Corp. in a research note on Thursday, July 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 price target (up from $95.00) on shares of Lam Research Corp. in a research note on Thursday, July 28th. Finally, Pacific Crest lifted their price target on Lam Research Corp. from $96.00 to $101.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Lam Research Corp. currently has an average rating of “Buy” and an average price target of $99.94.
Lam Research Corp. (NASDAQ:LRCX) traded up 4.18% during trading on Thursday, hitting $100.19. The company’s stock had a trading volume of 9,919,100 shares. Lam Research Corp. has a 12 month low of $63.10 and a 12 month high of $100.47. The firm has a market cap of $16.06 billion, a P/E ratio of 19.19 and a beta of 1.47. The firm has a 50 day moving average of $93.10 and a 200 day moving average of $85.57.
Lam Research Corp. (NASDAQ:LRCX) last released its earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.16. The company earned $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. Lam Research Corp.’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS. Equities research analysts predict that Lam Research Corp. will post $6.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, September 12th. Lam Research Corp.’s dividend payout ratio (DPR) is 22.99%.
A number of large investors have recently added to or reduced their stakes in LRCX. Foundry Partners LLC increased its stake in Lam Research Corp. by 26.5% in the third quarter. Foundry Partners LLC now owns 139,630 shares of the company’s stock valued at $13,224,000 after buying an additional 29,290 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Lam Research Corp. by 1.1% in the third quarter. BNP Paribas Arbitrage SA now owns 286,405 shares of the company’s stock worth $27,125,000 after buying an additional 3,148 shares during the last quarter. Eqis Capital Management Inc. increased its position in shares of Lam Research Corp. by 4.7% in the third quarter. Eqis Capital Management Inc. now owns 14,843 shares of the company’s stock worth $1,406,000 after buying an additional 667 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Lam Research Corp. during the second quarter worth about $542,000. Finally, Kentucky Retirement Systems acquired a new position in shares of Lam Research Corp. during the second quarter worth about $1,141,000.
Lam Research Corp. 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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