Lam Research Corp. (LRCX) Rating Reiterated by Morgan Stanley
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “overweight” rating reiterated by stock analysts at Morgan Stanley in a research note issued to investors on Saturday. They presently have a $105.00 target price on the stock. Morgan Stanley’s price target suggests a potential upside of 4.63% from the company’s current price.
LRCX has been the subject of several other research reports. Zacks Investment Research upgraded Lam Research Corp. from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Tuesday, September 27th. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price objective on shares of Lam Research Corp. in a research report on Tuesday, September 20th. Cowen and Company reiterated an “outperform” rating and issued a $95.00 price objective on shares of Lam Research Corp. in a research report on Wednesday, August 31st. Citigroup Inc. boosted their target price on Lam Research Corp. from $94.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Bank of America Corp. set a $108.00 target price on Lam Research Corp. and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $100.59.
Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 100.35 on Friday. Lam Research Corp. has a 52 week low of $63.10 and a 52 week high of $100.89. The company has a 50-day moving average price of $93.65 and a 200 day moving average price of $85.82. The stock has a market capitalization of $16.08 billion, a P/E ratio of 19.22 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm earned $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company posted $1.50 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts forecast that Lam Research Corp. will post $7.02 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were paid a $0.30 dividend. The ex-dividend date was Monday, September 12th. This represents a $1.20 dividend on an annualized basis and a yield of 1.20%. Lam Research Corp.’s payout ratio is 22.99%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted 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. boosted 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 valued at $173,000 after buying an additional 992 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Lam Research Corp. during the second quarter valued at $177,000. Johnson Financial Group Inc. boosted 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 valued at $196,000 after buying an additional 2,297 shares in the last quarter. Finally, SSI Investment Management Inc. purchased a new position in Lam Research Corp. during the second quarter valued at $200,000.
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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