Lam Research Corp. (LRCX) Earns Buy Rating from B. Riley
Lam Research Corp. (NASDAQ:LRCX)‘s stock had its “buy” rating restated by equities research analysts at B. Riley in a research report issued on Tuesday. They presently have a $106.00 price target on the stock. B. Riley’s price objective points to a potential upside of 16.25% from the company’s current price.
A number of other equities research analysts also recently commented on the company. Citigroup Inc. upped their price objective on Lam Research Corp. from $94.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 29th. Needham & Company LLC reiterated a “buy” rating on shares of Lam Research Corp. in a report on Saturday, June 25th. Deutsche Bank AG reiterated a “buy” rating and issued a $95.00 price objective on shares of Lam Research Corp. in a report on Thursday, April 21st. BlueFin Research upgraded Lam Research Corp. to a “positive” rating in a report on Monday, July 18th. Finally, Cowen and Company dropped their price objective on Lam Research Corp. from $93.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, May 16th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $99.21.
Shares of Lam Research Corp. (NASDAQ:LRCX) opened at 91.18 on Tuesday. Lam Research Corp. has a 1-year low of $61.20 and a 1-year high of $95.77. The stock’s 50 day moving average price is $91.80 and its 200-day moving average price is $82.78. The stock has a market capitalization of $14.61 billion, a P/E ratio of 17.47 and a beta of 1.31.
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Lam Research Corp. (NASDAQ:LRCX) last released its earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.16. The company earned $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.50 earnings per share. Equities research analysts anticipate that Lam Research Corp. will post $6.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, September 12th. This represents a $1.20 annualized dividend and a yield of 1.32%. Lam Research Corp.’s dividend payout ratio (DPR) is presently 22.99%.
A number of hedge funds and institutional investors recently modified their holdings of the stock. Paulson & CO. Inc. bought a new position in shares of Lam Research Corp. during the fourth quarter valued at approximately $397,100,000. Investec Asset Management LTD acquired a new stake in Lam Research Corp. during the first quarter valued at about $143,984,000. Norges Bank acquired a new stake in Lam Research Corp. during the fourth quarter valued at about $106,842,000. Millennium Management LLC raised its stake in Lam Research Corp. by 256.6% in the fourth quarter. Millennium Management LLC now owns 1,667,706 shares of the company’s stock valued at $132,449,000 after buying an additional 1,200,050 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Lam Research Corp. by 29.1% in the first quarter. Wellington Management Group LLP now owns 5,025,762 shares of the company’s stock valued at $415,128,000 after buying an additional 1,131,843 shares in the last quarter.
About Lam Research Corp.
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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