Lam Research Corporation (LRCX) Price Target Raised to $213.00
Lam Research Corporation (NASDAQ:LRCX) had its target price increased by Morgan Stanley from $176.00 to $213.00 in a report published on Wednesday, Marketbeat reports. Morgan Stanley currently has an overweight rating on the semiconductor company’s stock.
LRCX has been the topic of several other research reports. DA Davidson reissued a buy rating and issued a $175.00 target price on shares of Lam Research Corporation in a research note on Wednesday, July 26th. Needham & Company LLC reaffirmed a buy rating and set a $220.00 price target (up previously from $200.00) on shares of Lam Research Corporation in a research report on Friday, October 13th. Credit Suisse Group reaffirmed a buy rating on shares of Lam Research Corporation in a research report on Tuesday, August 29th. KeyCorp reaffirmed an overweight rating on shares of Lam Research Corporation in a research report on Thursday, July 27th. Finally, Berenberg Bank reaffirmed a buy rating on shares of Lam Research Corporation in a research report on Sunday, July 30th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $209.32.
Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 2.17% during trading on Wednesday, reaching $205.34. The company had a trading volume of 3,105,205 shares. Lam Research Corporation has a 52-week low of $93.69 and a 52-week high of $206.34. The company has a 50 day moving average of $180.03 and a 200-day moving average of $158.44. The firm has a market capitalization of $33.29 billion, a P/E ratio of 18.75 and a beta of 1.53.
Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The company’s quarterly revenue was up 51.8% on a year-over-year basis. Equities analysts expect that Lam Research Corporation will post $14.53 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.88%. Lam Research Corporation’s payout ratio is presently 16.45%.
In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $170.00, for a total value of $127,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Timothy Archer sold 15,638 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $175.65, for a total value of $2,746,814.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,419 shares of company stock valued at $7,167,497. 0.41% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Odey Holdings AG grew its stake in Lam Research Corporation by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 73 shares in the last quarter. BDO Wealth Advisors LLC bought a new position in Lam Research Corporation in the second quarter valued at approximately $118,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Lam Research Corporation in the second quarter valued at approximately $134,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in Lam Research Corporation by 358.3% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 860 shares in the last quarter. Finally, Sun Life Financial INC grew its stake in Lam Research Corporation by 10,672.7% in the second quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 1,174 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.
About Lam Research Corporation
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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