Lam Research Corp. (LRCX) Rating Reiterated by Citigroup Inc.
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “buy” rating reissued by investment analysts at Citigroup Inc. in a report issued on Thursday. They currently have a $108.00 price objective on the stock. Citigroup Inc.’s price target indicates a potential upside of 12.36% from the company’s current price.
Several other equities analysts have also recently issued reports on LRCX. B. Riley reiterated a “buy” rating and set a $106.00 price target on shares of Lam Research Corp. in a research report on Tuesday, August 2nd. DA Davidson reiterated a “buy” rating and set a $110.00 price target on shares of Lam Research Corp. in a research report on Monday, August 15th. RBC Capital Markets reiterated an “outperform” rating and set a $105.00 price target (up from $95.00) on shares of Lam Research Corp. in a research report on Thursday, July 28th. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price target (up from $95.00) on shares of Lam Research Corp. in a research report on Thursday, July 28th. Finally, Pacific Crest lifted their price target on Lam Research Corp. from $96.00 to $101.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $99.39.
Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 96.17 on Thursday. Lam Research Corp. has a 52-week low of $63.10 and a 52-week high of $96.50. The stock has a market capitalization of $15.41 billion, a P/E ratio of 18.42 and a beta of 1.47. The firm’s 50-day moving average price is $93.10 and its 200-day moving average price is $85.57.
Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.16. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $1.50 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts forecast that Lam Research Corp. will post $6.98 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. Lam Research Corp.’s payout ratio is presently 22.99%.
Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC raised its position in Lam Research Corp. by 28.6% in the second quarter. Quadrant Capital Group LLC now owns 1,258 shares of the company’s stock worth $103,000 after buying an additional 280 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its position in Lam Research Corp. by 92.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,060 shares of the company’s stock worth $173,000 after buying an additional 992 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Lam Research Corp. during the second quarter worth approximately $177,000. Johnson Financial Group Inc. raised its position in Lam Research Corp. by 6,044.7% in the second quarter. Johnson Financial Group Inc. now owns 2,335 shares of the company’s stock worth $196,000 after buying an additional 2,297 shares during the last quarter. Finally, SSI Investment Management Inc. acquired a new position in Lam Research Corp. during the second quarter worth approximately $200,000.
About Lam Research Corp.
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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