Needham & Company LLC Increases Lam Research Corp. (LRCX) Price Target to $115.00
Lam Research Corp. (NASDAQ:LRCX) had its price target hoisted by investment analysts at Needham & Company LLC to $115.00 in a report released on Thursday. Needham & Company LLC’s price objective would indicate a potential upside of 19.64% from the stock’s current price.
Several other research firms also recently weighed in on LRCX. Citigroup Inc. restated a “buy” rating and issued a $108.00 price target on shares of Lam Research Corp. in a research note on Thursday. JPMorgan Chase & Co. restated a “buy” rating on shares of Lam Research Corp. in a research note on Thursday. Zacks Investment Research upgraded Lam Research Corp. from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a research note on Friday, July 29th. Cowen and Company restated an “outperform” rating and issued a $95.00 price target on shares of Lam Research Corp. in a research note on Wednesday, August 31st. Finally, B. Riley restated a “buy” rating and issued a $106.00 price target on shares of Lam Research Corp. in a research note on Thursday, July 28th. Two equities research 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 a consensus price target of $99.94.
Lam Research Corp. (NASDAQ:LRCX) traded up 3.46% on Thursday, hitting $99.50. 7,331,893 shares of the company were exchanged. Lam Research Corp. has a 52 week low of $63.10 and a 52 week high of $99.75. The company has a market capitalization of $15.95 billion, a price-to-earnings ratio of 19.06 and a beta of 1.47. The stock has a 50 day moving average of $93.10 and a 200 day moving average of $85.57.
Lam Research Corp. (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 earnings per share (EPS) for the quarter, beating 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%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 EPS. Analysts predict that Lam Research Corp. will post $6.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, September 12th. Lam Research Corp.’s payout ratio is currently 22.99%.
A number of large investors have recently modified their holdings of LRCX. Legal & General Group Plc increased its stake in shares of Lam Research Corp. by 0.5% in the first quarter. Legal & General Group Plc now owns 689,290 shares of the company’s stock worth $56,933,000 after buying an additional 3,333 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Lam Research Corp. during the second quarter valued at $30,739,000. Geode Capital Management LLC increased its stake in shares of Lam Research Corp. by 3.0% in the first quarter. Geode Capital Management LLC now owns 1,345,517 shares of the company’s stock valued at $110,924,000 after buying an additional 39,093 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Lam Research Corp. by 1.3% in the second quarter. New York State Teachers Retirement System now owns 321,182 shares of the company’s stock valued at $26,999,000 after buying an additional 4,166 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in shares of Lam Research Corp. by 116.7% in the first quarter. Panagora Asset Management Inc. now owns 338,934 shares of the company’s stock valued at $27,996,000 after buying an additional 182,531 shares in 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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