Lam Research Corp. (NASDAQ:LRCX) had its price target hoisted by equities research analysts at Stifel Nicolaus from $93.00 to $102.00 in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 9.72% from the company’s previous close.
A number of other equities research analysts have also commented on LRCX. B. Riley restated a “buy” rating and set a $106.00 price target on shares of Lam Research Corp. in a research report on Thursday, July 28th. Zacks Investment Research upgraded Lam Research Corp. from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Friday, May 6th. Cowen and Company increased their price target on Lam Research Corp. from $90.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, April 21st. Needham & Company LLC restated a “buy” rating and set a $95.00 price target (up from $88.00) on shares of Lam Research Corp. in a research report on Monday, April 18th. Finally, Nomura increased their price target on Lam Research Corp. from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, June 23rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $99.21.
Shares of Lam Research Corp. (NASDAQ:LRCX) traded down 0.43% during midday trading on Thursday, hitting $92.96. The stock had a trading volume of 2,091,036 shares. The stock has a market capitalization of $14.90 billion, a price-to-earnings ratio of 17.81 and a beta of 1.31. Lam Research Corp. has a 52 week low of $61.20 and a 52 week high of $95.77. The stock has a 50 day moving average price of $92.14 and a 200-day moving average price of $83.63.
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Lam Research Corp. (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 EPS for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.16. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. Lam Research Corp.’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.50 EPS. Equities research analysts anticipate that Lam Research Corp. will post $6.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Monday, September 12th. Lam Research Corp.’s dividend payout ratio is 22.99%.
Several hedge funds have recently added to or reduced their stakes in LRCX. Quadrant Capital Group LLC increased its stake 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 valued at $103,000 after buying an additional 280 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in Lam Research Corp. by 92.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,060 shares of the company’s stock valued at $173,000 after buying an additional 992 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Lam Research Corp. during the second quarter valued at about $177,000. Johnson Financial Group Inc. increased its stake in Lam Research Corp. by 6,044.7% in the second quarter. Johnson Financial Group Inc. now owns 2,335 shares of the company’s stock valued at $196,000 after buying an additional 2,297 shares in the last quarter. Finally, SSI Investment Management Inc. purchased a new stake in Lam Research Corp. during the second quarter valued at about $200,000.
Lam Research Corp. 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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