Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “overweight” rating reaffirmed by investment analysts at Morgan Stanley in a report released on Saturday. They currently have a $105.00 price objective on the stock. Morgan Stanley’s price objective indicates a potential upside of 4.63% from the company’s previous close.

Several other equities analysts have also issued reports on LRCX. B. Riley reiterated 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 reiterated 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 reiterated an “outperform” rating and issued a $105.00 price target (up previously from $95.00) on shares of Lam Research Corp. in a research note on Thursday, July 28th. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price target (up previously 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 company an “overweight” rating in a research note on Thursday, July 28th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $100.59.

Analyst Recommendations for Lam Research Corp. (NASDAQ:LRCX)

Lam Research Corp. (NASDAQ:LRCX) opened at 100.35 on Friday. Lam Research Corp. has a 1-year low of $63.10 and a 1-year high of $100.89. The firm has a 50-day moving average price of $93.65 and a 200 day moving average price of $85.82. The firm has a market cap of $16.08 billion, a price-to-earnings ratio of 19.22 and a beta of 1.47.

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 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 company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the company posted $1.50 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts predict that Lam Research Corp. will post $7.02 earnings per share for the current 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, September 12th. Lam Research Corp.’s dividend payout ratio is 22.99%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its position in shares of 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 in the last quarter. Mizuho Asset Management Co. Ltd. increased its position in shares of 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 in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of Lam Research Corp. during the second quarter worth about $177,000. Johnson Financial Group Inc. increased its position in shares of 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 in the last quarter. Finally, SSI Investment Management Inc. acquired a new position in shares of Lam Research Corp. during the second quarter worth about $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.

5 Day Chart for NASDAQ:LRCX

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