Credit Suisse Group reiterated their outperform rating on shares of Lam Research Corporation (NASDAQ:LRCX) in a report issued on Wednesday, October 18th. Credit Suisse Group currently has a $245.00 target price on the semiconductor company’s stock, up from their previous target price of $214.00.
Other research analysts have also recently issued reports about the company. BidaskClub raised Lam Research Corporation from a hold rating to a buy rating in a report on Wednesday, July 12th. Morgan Stanley reissued an overweight rating and issued a $176.00 price target on shares of Lam Research Corporation in a report on Monday, August 14th. Vetr cut Lam Research Corporation from a buy rating to a hold rating and set a $196.77 price target on the stock. in a report on Monday, October 16th. DA Davidson reissued a buy rating and issued a $215.00 price target on shares of Lam Research Corporation in a report on Thursday, October 12th. Finally, Citigroup Inc. boosted their price target on Lam Research Corporation from $175.00 to $200.00 and gave the stock a neutral rating in a report on Wednesday, October 18th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $209.32.
Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 0.59% during mid-day trading on Wednesday, reaching $208.00. 1,984,702 shares of the company’s stock were exchanged. The company has a market cap of $33.73 billion, a PE ratio of 18.99 and a beta of 1.53. Lam Research Corporation has a 52-week low of $93.69 and a 52-week high of $208.65. The company’s 50-day moving average price is $185.17 and its 200 day moving average price is $161.19.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.27 by $0.19. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. The firm’s revenue was up 51.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 EPS. On average, equities research analysts predict that Lam Research Corporation will post $14.60 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio (DPR) is presently 16.45%.
In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $170.00, for a total value of $127,500.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Timothy Archer sold 8,691 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $171.76, for a total value of $1,492,766.16. 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. 0.41% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in LRCX. Janus Henderson Group PLC grew its position in Lam Research Corporation by 23,238.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock valued at $670,756,000 after acquiring an additional 4,722,348 shares during the last quarter. Harbour Capital Advisors LLC grew its position in shares of Lam Research Corporation by 13,054.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock worth $13,370,000 after buying an additional 1,876,544 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its position in shares of Lam Research Corporation by 1,696.5% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 878,960 shares of the semiconductor company’s stock worth $124,311,000 after buying an additional 830,034 shares in the last quarter. GQG Partners LLC bought a new position in shares of Lam Research Corporation during the 2nd quarter worth $87,726,000. Finally, Soros Fund Management LLC bought a new position in shares of Lam Research Corporation during the 1st quarter worth $71,978,000. 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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