Q2 2018 EPS Estimates for Lam Research Corporation (LRCX) Lifted by DA Davidson
Lam Research Corporation (NASDAQ:LRCX) – Analysts at DA Davidson boosted their Q2 2018 EPS estimates for shares of Lam Research Corporation in a research note issued to investors on Thursday. DA Davidson analyst T. Diffely now expects that the semiconductor company will post earnings of $3.33 per share for the quarter, up from their prior forecast of $2.65. DA Davidson has a “Buy” rating and a $215.00 price objective on the stock. DA Davidson also issued estimates for Lam Research Corporation’s Q3 2018 earnings at $3.33 EPS, FY2018 earnings at $13.15 EPS, Q3 2019 earnings at $3.56 EPS and FY2019 earnings at $14.00 EPS.
LRCX has been the topic of a number of other reports. Berenberg Bank reissued a “buy” rating on shares of Lam Research Corporation in a report on Sunday, July 30th. Zacks Investment Research raised Lam Research Corporation from a “sell” rating to a “hold” rating in a report on Friday. Argus assumed coverage on Lam Research Corporation in a report on Tuesday, September 12th. They issued a “buy” rating and a $196.00 price target on the stock. B. Riley reissued a “buy” rating and issued a $220.00 price target on shares of Lam Research Corporation in a report on Tuesday, August 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target (up from $200.00) on shares of Lam Research Corporation in a report on Friday. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $183.67.
Shares of Lam Research Corporation (LRCX) traded up 0.63% during midday trading on Monday, reaching $193.58. 1,390,919 shares of the company were exchanged. The company has a 50 day moving average price of $175.34 and a 200-day moving average price of $156.33. The stock has a market capitalization of $31.45 billion, a P/E ratio of 20.95 and a beta of 1.52. Lam Research Corporation has a 12-month low of $93.69 and a 12-month high of $195.49.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm posted $1.80 earnings per share. The company’s revenue for the quarter was up 51.6% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in LRCX. Municipal Employees Retirement System of Michigan grew its position in Lam Research Corporation by 2.9% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 5,250 shares of the semiconductor company’s stock valued at $674,000 after acquiring an additional 150 shares during the last quarter. Stephens Inc. AR grew its position 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 last quarter. Banco BTG Pactual S.A. bought a new position in Lam Research Corporation in the 1st quarter valued at $231,000. Sentry Investment Management LLC grew its position in Lam Research Corporation by 3.0% in the 1st quarter. Sentry Investment Management LLC now owns 12,664 shares of the semiconductor company’s stock valued at $1,626,000 after acquiring an additional 363 shares during the last quarter. Finally, Ngam Advisors L.P. grew its position in Lam Research Corporation by 22.2% in the 1st quarter. Ngam Advisors L.P. now owns 24,302 shares of the semiconductor company’s stock valued at $3,119,000 after acquiring an additional 4,419 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors.
In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total value of $120,375.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Timothy Archer sold 6,897 shares of the company’s 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 disclosure for this sale can be found here. Insiders sold a total of 48,816 shares of company stock worth $8,492,648 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio (DPR) is presently 19.57%.
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.
Receive News & Stock Ratings for Lam Research Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research Corporation and related stocks with our FREE daily email newsletter.