Cowen and Company Reiterates Outperform Rating for Lam Research Corp. (LRCX)
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “outperform” rating reissued by stock analysts at Cowen and Company in a report released on Tuesday. They presently have a $105.00 target price on the stock, up from their prior target price of $100.00. Cowen and Company’s price target suggests a potential downside of 1.60% from the company’s current price.
A number of other brokerages also recently weighed in on LRCX. Needham & Company LLC boosted their price target on Lam Research Corp. from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 6th. Pacific Crest set a $101.00 price target on Lam Research Corp. and gave the stock a “buy” rating in a research report on Thursday, August 11th. Stifel Nicolaus boosted their price target on Lam Research Corp. from $110.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research downgraded Lam Research Corp. from a “buy” rating to a “hold” rating in a research report on Friday, October 14th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Lam Research Corp. in a research report on Thursday, October 6th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Lam Research Corp. presently has an average rating of “Buy” and a consensus target price of $106.35.
Lam Research Corp. (NASDAQ:LRCX) traded up 0.44% during trading on Tuesday, hitting $106.71. The company had a trading volume of 1,979,638 shares. The stock has a 50-day moving average of $98.50 and a 200 day moving average of $89.94. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 21.18 and a beta of 1.49. Lam Research Corp. has a one year low of $63.10 and a one year high of $107.37.
Lam Research Corp. (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.03. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. Lam Research Corp. had a return on equity of 18.43% and a net margin of 15.02%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.82 earnings per share. Equities analysts forecast that Lam Research Corp. will post $7.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Lam Research Corp.’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, December 12th. Lam Research Corp.’s dividend payout ratio is presently 23.86%.
In other news, insider Richard A. Gottscho sold 47,540 shares of the stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $98.85, for a total value of $4,699,329.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. MSI Financial Services Inc boosted its position in shares of Lam Research Corp. by 40.2% in the third quarter. MSI Financial Services Inc now owns 1,095 shares of the company’s stock worth $104,000 after buying an additional 314 shares during the last quarter. New York Life Trust Co. boosted its position in shares of Lam Research Corp. by 95.3% in the third quarter. New York Life Trust Co. now owns 1,170 shares of the company’s stock worth $111,000 after buying an additional 571 shares during the last quarter. Quadrant Capital Group LLC boosted 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 during the last quarter. Global X Management Co. LLC boosted its position in shares of Lam Research Corp. by 97.4% in the third quarter. Global X Management Co. LLC now owns 1,344 shares of the company’s stock worth $127,000 after buying an additional 663 shares during the last quarter. Finally, TLP Group LLC purchased a new position in shares of Lam Research Corp. during the third quarter worth approximately $132,000.
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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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