Lam Research Corp. (LRCX) Given “Outperform” Rating at RBC Capital Markets
A number of other research analysts also recently commented on the company. Morgan Stanley reaffirmed an overweight rating and set a $105.00 target price on shares of Lam Research Corp. in a report on Saturday. Citigroup Inc. reaffirmed a buy rating and set a $108.00 target price on shares of Lam Research Corp. in a report on Thursday. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Lam Research Corp. in a report on Thursday. Credit Suisse Group AG reaffirmed a buy rating and set a $100.00 target price on shares of Lam Research Corp. in a report on Thursday. Finally, Needham & Company LLC increased their target price on Lam Research Corp. from $105.00 to $115.00 and gave the stock a buy rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $100.59.
Lam Research Corp. (NASDAQ:LRCX) traded up 0.16% during mid-day trading on Friday, hitting $100.35. The company had a trading volume of 5,797,149 shares. The stock’s 50 day moving average price is $93.65 and its 200 day moving average price is $85.82. The firm has a market cap of $16.08 billion, a P/E ratio of 19.22 and a beta of 1.47. Lam Research Corp. has a 52-week low of $63.10 and a 52-week high of $100.89.
Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 18.95% and a net margin of 15.53%. Lam Research Corp.’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.50 earnings per share. On average, equities research analysts predict that Lam Research Corp. will post $7.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.20 annualized dividend and a yield of 1.20%. Lam Research Corp.’s dividend payout ratio (DPR) is currently 22.99%.
Institutional investors have recently bought and sold shares of the stock. 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 valued at $103,000 after buying an additional 280 shares during the period. 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.
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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