Lam Research Corp. (LRCX) PT Raised to $116.00
Lam Research Corp. (NASDAQ:LRCX) had its target price lifted by analysts at Stifel Nicolaus from $110.00 to $116.00 in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 8.71% from the company’s previous close.
Several other equities analysts have also recently weighed in on the stock. Credit Suisse Group AG reaffirmed a “buy” rating and set a $100.00 price target on shares of Lam Research Corp. in a research note on Sunday, August 14th. Royal Bank Of Canada decreased their price target on shares of Lam Research Corp. from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. RBC Capital Markets raised their price target on shares of Lam Research Corp. from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 20th. Cowen and Company raised their price target on shares of Lam Research Corp. from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 26th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $108.00 price target on shares of Lam Research Corp. in a research note on Thursday, October 6th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Lam Research Corp. presently has a consensus rating of “Buy” and a consensus price target of $106.35.
Lam Research Corp. (NASDAQ:LRCX) opened at 106.71 on Monday. Lam Research Corp. has a 1-year low of $63.10 and a 1-year high of $107.37. The firm has a market capitalization of $17.38 billion, a PE ratio of 21.18 and a beta of 1.49. The company’s 50-day moving average is $98.83 and its 200 day moving average is $90.17.
Lam Research Corp. (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 19th. The company reported $1.81 EPS for the quarter, topping the consensus estimate 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 net margin of 15.02% and a return on equity of 18.43%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted $1.82 EPS. On average, equities analysts expect that Lam Research Corp. will post $7.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Investors 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 yield of 1.69%. The ex-dividend date of this dividend is Monday, December 12th. This is an increase from Lam Research Corp.’s previous quarterly dividend of $0.30. Lam Research Corp.’s payout ratio is 23.86%.
In related news, insider Richard A. Gottscho sold 47,540 shares of the business’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $98.85, for a total value of $4,699,329.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased 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 period. MSI Financial Services Inc boosted its position in 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 in the last quarter. New York Life Trust Co. boosted its position in 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 in the last quarter. Global X Management Co. LLC boosted its position in 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 in the last quarter. Finally, TLP Group LLC acquired a new position in Lam Research Corp. during the third quarter worth about $132,000.
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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