Lam Research Corp. (LRCX) Receives “Buy” Rating from JPMorgan Chase & Co.
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “buy” rating reiterated by analysts at JPMorgan Chase & Co. in a research note issued on Thursday.
Several other equities analysts also recently commented on LRCX. Nomura upped their price objective on shares of Lam Research Corp. from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, June 23rd. Needham & Company LLC reaffirmed a “buy” rating on shares of Lam Research Corp. in a research note on Saturday, June 25th. Cowen and Company reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Lam Research Corp. in a research note on Tuesday, July 12th. BlueFin Research raised shares of Lam Research Corp. to a “positive” rating in a research note on Monday, July 18th. Finally, Zacks Investment Research raised shares of Lam Research Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Lam Research Corp. currently has an average rating of “Buy” and a consensus price target of $99.39.
Lam Research Corp. (NASDAQ:LRCX) traded up 2.92% during trading on Thursday, reaching $98.98. The company’s stock had a trading volume of 6,619,197 shares. Lam Research Corp. has a one year low of $63.10 and a one year high of $99.75. The company has a 50-day moving average of $93.10 and a 200 day moving average of $85.57. The firm has a market cap of $15.86 billion, a PE ratio of 18.96 and a beta of 1.47.
Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.64 by $0.16. The firm earned $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. Lam Research Corp. had a net margin of 15.53% and a return on equity of 18.95%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 earnings per share. Analysts expect that Lam Research Corp. will post $6.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Investors 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 was Monday, September 12th. Lam Research Corp.’s dividend payout ratio is currently 22.99%.
A number of large investors have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Lam Research Corp. by 149.5% in the second quarter. FMR LLC now owns 10,317,149 shares of the company’s stock valued at $867,259,000 after buying an additional 6,182,540 shares in the last quarter. Investec Asset Management LTD acquired a new position in Lam Research Corp. during the first quarter valued at $143,984,000. Wellington Management Group LLP increased its position in Lam Research Corp. by 29.1% in the first quarter. Wellington Management Group LLP now owns 5,025,762 shares of the company’s stock valued at $415,128,000 after buying an additional 1,131,843 shares during the last quarter. BlackRock Investment Management LLC increased its position in Lam Research Corp. by 209.6% in the second quarter. BlackRock Investment Management LLC now owns 1,093,309 shares of the company’s stock valued at $91,904,000 after buying an additional 740,148 shares during the last quarter. Finally, BlackRock Advisors LLC increased its position in Lam Research Corp. by 71.3% in the second quarter. BlackRock Advisors LLC now owns 1,671,546 shares of the company’s stock valued at $140,511,000 after buying an additional 695,595 shares during the last quarter.
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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