Lam Research Corp. (LRCX) Given “Buy” Rating at Deutsche Bank AG
A number of other research analysts have also commented on the stock. RBC Capital Markets reiterated an outperform rating and issued a $105.00 price target on shares of Lam Research Corp. in a research note on Sunday, October 9th. Zacks Investment Research upgraded shares of Lam Research Corp. from a hold rating to a buy rating and set a $102.00 target price on the stock in a research report on Tuesday, September 27th. Needham & Company LLC restated a buy rating and set a $120.00 target price (up previously from $115.00) on shares of Lam Research Corp. in a research report on Monday, October 17th. Goldman Sachs Group Inc. initiated coverage on shares of Lam Research Corp. in a research report on Tuesday, October 25th. They set a neutral rating and a $104.00 target price on the stock. Finally, Cowen and Company restated an outperform rating and set a $95.00 target price on shares of Lam Research Corp. in a research report on Wednesday, August 31st. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $106.06.
Lam Research Corp. (NASDAQ:LRCX) opened at 106.24 on Monday. The firm’s 50-day moving average is $98.50 and its 200-day moving average is $89.94. Lam Research Corp. has a 52 week low of $63.10 and a 52 week high of $107.25. The company has a market cap of $17.30 billion, a PE ratio of 21.09 and a beta of 1.49.
Lam Research Corp. (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 19th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.03. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Lam Research Corp. had a net margin of 15.02% and a return on equity of 18.43%. Lam Research Corp.’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.82 EPS. On average, analysts expect that Lam Research Corp. will post $7.69 EPS for the current fiscal year.
The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, December 12th. This is a boost from Lam Research Corp.’s previous quarterly dividend of $0.30. Lam Research Corp.’s dividend payout ratio is 23.86%.
In other news, insider Richard A. Gottscho sold 47,540 shares of the stock in a transaction that occurred on Thursday, October 6th. The shares were 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 SEC, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Lam Research Corp. by 149.5% in the second quarter. FMR LLC now owns 10,317,149 shares of the company’s stock valued at $867,259,000 after buying an additional 6,182,540 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Lam Research Corp. by 104.9% in the third quarter. TIAA CREF Investment Management LLC now owns 2,493,735 shares of the company’s stock worth $236,182,000 after buying an additional 1,276,856 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in Lam Research Corp. by 209.6% in the second quarter. BlackRock Investment Management LLC now owns 1,093,309 shares of the company’s stock worth $91,904,000 after buying an additional 740,148 shares during the last quarter. BlackRock Advisors LLC boosted its stake in Lam Research Corp. by 71.3% in the second quarter. BlackRock Advisors LLC now owns 1,671,546 shares of the company’s stock worth $140,511,000 after buying an additional 695,595 shares during the last quarter. Finally, Criterion Capital Management LLC boosted its stake in Lam Research Corp. by 187.6% in the second quarter. Criterion Capital Management LLC now owns 1,059,055 shares of the company’s stock worth $89,024,000 after buying an additional 690,855 shares during 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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