Lam Research Corporation (NASDAQ:LRCX) released its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19, Bloomberg Earnings reports. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the business earned $1.81 EPS. Lam Research Corporation’s revenue was up 51.8% compared to the same quarter last year. Lam Research Corporation updated its Q2 guidance to $3.53-3.77 EPS.
Lam Research Corporation (NASDAQ:LRCX) traded down 0.14% during mid-day trading on Friday, hitting $206.49. 934,112 shares of the company’s stock traded hands. Lam Research Corporation has a one year low of $93.69 and a one year high of $208.41. The stock has a market cap of $33.48 billion, a PE ratio of 18.85 and a beta of 1.53. The firm’s 50-day moving average price is $182.92 and its 200-day moving average price is $160.30.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were paid 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 presently 16.45%.
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In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction on Friday, October 13th. The stock was sold at an average price of $190.00, for a total transaction of $142,500.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Timothy Archer sold 15,638 shares of Lam Research Corporation stock in a transaction 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. In the last three months, insiders sold 40,419 shares of company stock worth $7,167,497. Company insiders own 0.41% of the company’s stock.
A number of equities analysts recently issued reports on LRCX shares. BidaskClub downgraded shares of Lam Research Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Morgan Stanley restated an “overweight” rating on shares of Lam Research Corporation in a research report on Friday, July 7th. DA Davidson restated a “buy” rating and issued a $175.00 price target on shares of Lam Research Corporation in a research report on Wednesday, July 26th. B. Riley reiterated a “buy” rating and set a $220.00 price objective on shares of Lam Research Corporation in a research report on Thursday, July 27th. Finally, Cowen and Company reiterated an “outperform” rating and set a $185.00 price objective (up previously from $150.00) on shares of Lam Research Corporation in a research report on Thursday, July 27th. Five 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 an average rating of “Buy” and an average target price of $209.32.
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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