Lam Research Co. (NASDAQ:LRCX) has been given a consensus rating of “Buy” by the nineteen analysts that are currently covering the stock. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $124.50.
A number of brokerages have recently issued reports on LRCX. Cowen and Company restated an “outperform” rating and set a $125.00 price objective (up previously from $105.00) on shares of Lam Research in a report on Tuesday, January 24th. Susquehanna Bancshares Inc boosted their price objective on Lam Research from $92.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Deutsche Bank AG boosted their price objective on Lam Research from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, January 23rd. Zacks Investment Research upgraded Lam Research from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a report on Tuesday, January 10th. Finally, Stifel Nicolaus restated a “buy” rating and set a $150.00 price objective (up previously from $125.00) on shares of Lam Research in a report on Monday, March 27th.
Lam Research (NASDAQ:LRCX) traded down 0.87% during midday trading on Wednesday, reaching $127.77. The company had a trading volume of 1,375,384 shares. The firm has a 50-day moving average of $121.97 and a 200-day moving average of $108.54. The stock has a market cap of $20.81 billion, a P/E ratio of 22.90 and a beta of 1.44. Lam Research has a 12 month low of $72.00 and a 12 month high of $130.13.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, January 25th. The company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.05. Lam Research had a return on equity of 19.95% and a net margin of 15.67%. The company earned $1.88 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The business’s revenue was up 32.0% on a year-over-year basis. On average, equities analysts expect that Lam Research will post $9.27 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 29th. Investors of record on Wednesday, March 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Monday, March 6th. Lam Research’s dividend payout ratio (DPR) is currently 32.37%.
In other Lam Research news, CFO Douglas R. Bettinger sold 3,741 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $114.90, for a total transaction of $429,840.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Martin B. Anstice sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, January 12th. The shares were sold at an average price of $107.73, for a total transaction of $1,723,680.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 302,468 shares of company stock valued at $35,865,901. 0.46% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in LRCX. State Street Corp increased its position in shares of Lam Research by 2.8% in the fourth quarter. State Street Corp now owns 6,799,704 shares of the company’s stock valued at $718,932,000 after buying an additional 186,165 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Lam Research by 3.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,240,514 shares of the company’s stock valued at $401,619,000 after buying an additional 152,578 shares in the last quarter. Janus Capital Management LLC increased its position in shares of Lam Research by 24.3% in the fourth quarter. Janus Capital Management LLC now owns 3,175,155 shares of the company’s stock valued at $335,710,000 after buying an additional 621,245 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Lam Research by 104.9% in the third quarter. TIAA CREF Investment Management LLC now owns 2,493,735 shares of the company’s stock valued at $236,182,000 after buying an additional 1,276,856 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Lam Research by 24.5% in the third quarter. Two Sigma Advisers LP now owns 1,994,635 shares of the company’s stock valued at $188,912,000 after buying an additional 392,474 shares in the last quarter.
About Lam Research
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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