Lam Research Corporation (NASDAQ:LRCX) – Investment analysts at DA Davidson increased their Q2 2018 earnings per share (EPS) estimates for Lam Research Corporation in a note issued to investors on Wednesday. DA Davidson analyst T. Diffely now expects that the semiconductor company will post earnings per share of $3.65 for the quarter, up from their prior estimate of $3.33. DA Davidson currently has a “Buy” rating on the stock. DA Davidson also issued estimates for Lam Research Corporation’s Q3 2018 earnings at $3.70 EPS, Q4 2018 earnings at $3.45 EPS, Q1 2019 earnings at $3.57 EPS, Q3 2019 earnings at $3.70 EPS and Q4 2019 earnings at $4.05 EPS.
LRCX has been the topic of several other research reports. Berenberg Bank restated a “buy” rating on shares of Lam Research Corporation in a research note on Sunday, July 30th. Zacks Investment Research upgraded shares of Lam Research Corporation from a “sell” rating to a “hold” rating and set a $221.00 target price on the stock in a research note on Friday, October 13th. Argus began coverage on shares of Lam Research Corporation in a research note on Tuesday, September 12th. They issued a “buy” rating and a $196.00 target price on the stock. B. Riley restated a “buy” rating and issued a $220.00 target price on shares of Lam Research Corporation in a research note on Tuesday, August 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 target price (up previously from $200.00) on shares of Lam Research Corporation in a research note on Friday, October 13th. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $202.81.
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Lam Research Corporation (NASDAQ LRCX) traded down 0.52% on Thursday, hitting $199.44. 1,987,332 shares of the stock were exchanged. The company’s 50 day moving average is $177.88 and its 200 day moving average is $157.58. Lam Research Corporation has a 1-year low of $93.69 and a 1-year high of $200.91. The stock has a market cap of $32.40 billion, a PE ratio of 21.58 and a beta of 1.53.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.19. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.82%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the firm posted $1.81 EPS. The company’s revenue for the quarter was up 51.8% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a yield of 0.90%. Lam Research Corporation’s payout ratio is 16.45%.
In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of the company’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Timothy Archer sold 11,590 shares of the company’s 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. Over the last three months, insiders have sold 40,419 shares of company stock valued at $7,167,497. 0.41% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. W. E. Donoghue & Co. LLC acquired a new position in Lam Research Corporation during the 2nd quarter worth approximately $2,095,000. Intl Fcstone Inc. acquired a new position in Lam Research Corporation during the 2nd quarter worth approximately $242,000. BRILLIANCE ASSET MANAGEMENT Ltd boosted its position in Lam Research Corporation by 58.1% during the 2nd quarter. BRILLIANCE ASSET MANAGEMENT Ltd now owns 133,491 shares of the semiconductor company’s stock worth $18,880,000 after acquiring an additional 49,060 shares during the last quarter. Navellier & Associates Inc acquired a new position in Lam Research Corporation during the 2nd quarter worth approximately $2,432,000. Finally, WFG Advisors LP boosted its position in Lam Research Corporation by 21.2% during the 2nd quarter. WFG Advisors LP now owns 2,992 shares of the semiconductor company’s stock worth $423,000 after acquiring an additional 524 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.
About Lam Research Corporation
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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