Lam Research Corporation’s (LRCX) Buy Rating Reaffirmed at DA Davidson
DA Davidson reissued their buy rating on shares of Lam Research Corporation (NASDAQ:LRCX) in a research note published on Thursday. They currently have a $215.00 target price on the semiconductor company’s stock. DA Davidson also issued estimates for Lam Research Corporation’s Q1 2018 earnings at $3.26 EPS, Q4 2018 earnings at $3.24 EPS, Q1 2019 earnings at $3.47 EPS, Q2 2019 earnings at $3.22 EPS and Q4 2019 earnings at $3.76 EPS.
Other equities analysts have also issued reports about the stock. Stifel Nicolaus reaffirmed a buy rating and issued a $189.00 price objective (up from $170.00) on shares of Lam Research Corporation in a research report on Monday, June 19th. Needham & Company LLC increased their price objective on shares of Lam Research Corporation from $165.00 to $175.00 and gave the company a buy rating in a research report on Friday, June 16th. BidaskClub lowered shares of Lam Research Corporation from a strong-buy rating to a buy rating in a research report on Wednesday, June 14th. B. Riley reaffirmed a buy rating and issued a $220.00 price objective on shares of Lam Research Corporation in a research report on Thursday, July 27th. Finally, Credit Suisse Group set a $214.00 price objective on shares of Lam Research Corporation and gave the company a buy rating in a research report on Thursday, July 27th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Lam Research Corporation has a consensus rating of Buy and an average target price of $182.94.
Lam Research Corporation (NASDAQ LRCX) traded up 1.56% on Thursday, hitting $189.90. 1,557,143 shares of the stock traded hands. Lam Research Corporation has a 12 month low of $93.69 and a 12 month high of $190.30. The firm has a 50-day moving average price of $173.95 and a 200-day moving average price of $155.48. The company has a market capitalization of $30.85 billion, a PE ratio of 20.55 and a beta of 1.53.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.09. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. Lam Research Corporation’s revenue was up 51.6% on a year-over-year basis. During the same period last year, the firm posted $1.80 EPS. Analysts forecast that Lam Research Corporation will post $12.88 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio (DPR) is 19.57%.
In related news, COO Timothy Archer sold 6,897 shares of Lam Research Corporation stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total value of $1,106,968.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction on Friday, September 29th. The shares were sold at an average price of $185.00, for a total transaction of $138,750.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,066 shares of company stock valued at $8,350,148. Insiders own 0.41% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Stephens Inc. AR grew its stake in Lam Research Corporation by 6.8% in the 1st quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 54 shares during the period. Odey Holdings AG grew its stake in Lam Research Corporation by 9.9% in the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 73 shares during the period. BDO Wealth Advisors LLC acquired a new stake in Lam Research Corporation in the 2nd quarter valued at $118,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Lam Research Corporation in the 2nd quarter valued at $134,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in Lam Research Corporation by 358.3% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 860 shares during the period. 93.96% of the stock is currently owned by hedge funds and other institutional investors.
Lam Research Corporation 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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