Lam Research Corporation (NASDAQ:LRCX) had its price target upped by Stifel Nicolaus from $215.00 to $235.00 in a research note issued to investors on Wednesday, October 18th, Marketbeat Ratings reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.
Several other research analysts have also recently weighed in on the company. Morgan Stanley reaffirmed an overweight rating on shares of Lam Research Corporation in a research note on Friday, July 7th. Credit Suisse Group reaffirmed a buy rating on shares of Lam Research Corporation in a research note on Tuesday, August 29th. DA Davidson reaffirmed a buy rating and set a $175.00 target price on shares of Lam Research Corporation in a report on Wednesday, July 26th. Argus initiated coverage on Lam Research Corporation in a report on Tuesday, September 12th. They set a buy rating and a $196.00 target price for the company. Finally, Needham & Company LLC reaffirmed a buy rating and set a $200.00 target price on shares of Lam Research Corporation in a report on Friday, September 1st. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $209.32.
Shares of Lam Research Corporation (NASDAQ:LRCX) opened at 206.78 on Wednesday. The company has a market cap of $33.53 billion, a price-to-earnings ratio of 18.88 and a beta of 1.53. Lam Research Corporation has a 12-month low of $93.69 and a 12-month high of $208.65. The stock has a 50 day moving average of $182.92 and a 200 day moving average of $160.30.
Lam Research Corporation (NASDAQ:LRCX) last announced its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the business posted $1.81 earnings per share. The company’s quarterly revenue was up 51.8% on a year-over-year basis. Equities research analysts predict that Lam Research Corporation will post $14.60 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio (DPR) is currently 16.45%.
In other news, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $195.09, for a total transaction of $146,317.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Timothy Archer sold 11,590 shares of Lam Research Corporation stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $181.76, for a total value of $2,106,598.40. The disclosure for this sale can be found here. Insiders sold a total of 40,419 shares of company stock worth $7,167,497 in the last ninety days. Insiders own 0.41% of the company’s stock.
Large investors have recently made changes to their positions in the company. Odey Holdings AG grew its holdings in shares of Lam Research Corporation by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 73 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in shares of Lam Research Corporation during the 2nd quarter worth approximately $118,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Lam Research Corporation during the 2nd quarter worth approximately $134,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in shares of Lam Research Corporation by 358.3% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock worth $156,000 after buying an additional 860 shares during the period. Finally, Sun Life Financial INC lifted its position in shares of Lam Research Corporation by 10,672.7% during the 2nd quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’s stock worth $168,000 after buying an additional 1,174 shares during the period. 94.17% of the stock is currently owned by institutional investors.
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.
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